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Southeast Asian stocks edge higher

Published: April 15, 2019 12:12:16 | Updated: April 18, 2019 11:53:29


File photo (Collected)

Most Southeast Asian stock markets edged higher on Monday as upbeat trade and credit data from China pointed to a healing economy amid concerns about global economic growth.

Positive headlines on Sino-US trade talks boosted investor sentiment as well. MSCI's broadest index of Asia-Pacific shares outside Japan climbed 0.1 per cent.

Indonesian shares were headed for their first session of gain in four ahead of March trade data, with financial and consumer stocks leading the rally, reports Reuters.

Indonesia probably swung back to a trade deficit in March after the previous month's surprise surplus, as imports likely fell less sharply than exports did, a Reuters poll showed.

Except for February, Southeast Asia's largest economy has had a trade deficit every month since October.

Bank Central Asia gained 0.2 per cent, while conglomerate Astra International Tbk Pt firmed 1.0 per cent.

Malaysian shares rose for a second straight session, buoyed by material and telecom stocks.

Chemicals producer Petronas Chemicals Group Bhd rose nearly 1.0 per cent and telecom service provider Maxis Bhd added 1.3 per cent.

Singapore shares extended gains into a fifth session on telecom and technology stocks.

Meanwhile, Philippine shares reversed early gains, dragged by consumer and industrial stocks.

Thailand and Vietnam stock markets were closed for a holiday.

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