SE Asia stocks end higher, Indonesia shares hits record high

SE Asia stocks end higher, Indonesia shares hits record high

A man examines the electronic stock board at the Indonesia Stock Exchange in Jakarta. The market in Indonesia hit a record high on Monday. (Reuters photo)
A man examines the electronic stock board at the Indonesia Stock Exchange in Jakarta. The market in Indonesia hit a record high on Monday. (Reuters photo)

Southeast Asian stocks ended in positive territory on Monday, with Indonesia hitting a record high on better-than-expected earnings for the quarter ended March.

Indonesian shares rose as much as 0.9%, hitting their highest level during the session, with consumer stocks accounting for nearly half the gains on the index.

The better-than-expected earnings for the quarter ended March are "providing support to the index," said Harry Su, an analyst with Jakarta-based Bahana Securities.

The country also saw its annual inflation rate easing to 3.61% in March, against expectations for it to stay steady near the previous month's 3.83%.

Conglomerate Astra International Tbk Pt rose 1.7%, while PT Unilever Indonesia Tbk ended 1.3% higher.

Broader Asian markets were also off to a good second-quarter start, with MSCI's broadest index of Asia-Pacific shares outside Japan up 0.4%, by 4.40pm.

Markets in the region continued their rally in March, after the US Federal Reserve signaled a gradual pace of monetary tightening at its March 14–15 meeting.

Investors are also looking out for US payroll data due on Friday and US President Donald Trump's first meeting with counterpart Xi Jinping on Thursday and Friday.

Philippine shares finished 0.4% higher. Real estate stocks and financials led the gainers, with property developer SM Prime Holdings rising 1.41%, while Bank of the Philippine Islands closed up 2.3%.

Singapore closed up 0.4%, while Vietnam ended flat.

Southeast Asian stock markets

 

 

Current

Previous

% change

Indonesia

5,606.78

5,568.10

+0.69

Malaysia

1,745.49

1,740.09

+0.31

Philippines

7,341.65

7,311.72

+0.41

Singapore

3,187.51

3,175.11

+0.39

Vietnam

722.38

722.31

+0.01


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