Southeast Asia stocks rise, Singapore leads gains



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Southeast Asian stock markets closed higher on Thursday, with Singapore leading the gains with a near rise, driven by a post-election rally on Wall Street and China's stronger-than-expected October.

Wall Street rose 2% on Wednesday as investors breathed a sigh of relief following the US midterm elections, betting that a divided Congress would be good news for equities.

China reported stronger-than-expected exports for the United States, its biggest trading partner, racing to beat higher prices that come into force in January next year.

Pink Exports 15.6% in October from a year earlier, China's customs data shown.

"Front-loading export activities should continue in November and December." So, "I wrote in a note to customers.

China is the biggest trade partner for most countries in Southeast Asia.

Investors also awaited the US Federal Reserve's monetary policy decision due later in the day. The Fed is not expected to raise interest

However market participants are waiting to see whether or not it is possible.

Singapore shares gained 0.9%, buoyed by industrial and energy stocks. Keppel Corp closed 1.6% higher, while conglomerate Jardine Matheson Holdings rose 3.2%.

The Stock Exchange of Thailand index rose for a second straight session, gaining 6.40 gold points to 0.38% to end the day at 1,681.73.

The market has been helped by gains in energy stocks. Heavyweight index PTT Plc gained 1% to a one-week closing high, while Thai Oil Plce rose 0.9%.

Indonesian shares rose for an eighth session in a row and posted their Aug 31, driven by gains in telecommunication and utility stocks. Tiphone Mobile Indonesia is up 23%.

Malaysian shares closed higher for a second consecutive session on the back of telecom stocks. Telecommunications firm Digi.com climbed 1.4%, while Maxis Bhd rose 2%.

Filipino shares recovered from a two-week low to close almost flat. Diversified conglomerate rose San Miguel Corp 6.4%, while Semirara Mining and Power Corp fell 3%.

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