Southeast Asian stocks rise; Malaysia falls

Published: April 17, 2019 14:46:58 | Updated: April 19, 2019 12:55:56

File photo (Reuters)

Most Southeast Asian stock markets rose on Wednesday after China reported better-than-expected economic growth, while Malaysian stocks fell to its lowest level in over two years.

Singapore stocks led gains in the region, helped by financial stocks and gains in counters of Keppel Corporation Limited.

Shares of Keppel Corp rose as much as 3.2 per cent to its highest level since October 12, 2018, reports Reuters.

Thai stocks reopened after a two-day holiday to rise 0.3 per cent, and the bourse was set to snap two sessions of losses, led by consumer and healthcare stocks.

Financial stocks also boosted the Philippine benchmark index to rise 0.4 per cent, with BDO Unibank Inc and Ayala Corp rising 1.5 per cent and 1.3 per cent, respectively.

Meanwhile, the Malaysian bourse fell 0.6 per cent to its lowest level in over two years.

FTSE Russell placed Malaysia's market accessibility level in its World Government Bond Index under a review considering a downgrade from the current level of 2 (highest level of accessibility) to 1 at the end of the review period in September.

The downgrade may make the Malaysian local government ineligible for the index that helps with exposure to wider global investors.

Indonesian stock market was closed on account of Presidential elections.

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