Southeast Asian stocks rise as Korea tensions fade

Published: April 30, 2018 14:04:59 | Updated: May 02, 2018 11:22:25

File Photo (Reuters)

Southeast Asian stock markets rose on Monday as easing tensions in the Korean peninsula boosted investor sentiment, while Singapore stocks surged to a 10-year high.

MSCI's broadest index of Asia-Pacific shares outside Japan climbed 0.9 per cent after gaining more than 1.0 per cent on Friday, reports Reuters.

Singapore shares rose to their highest since November 2007 on gains in financials. DBS Group Holdings led the gains after the city-state's biggest lender reported a record profit.

Singapore's total bank lending rose 1.6 per cent in March from a month earlier as lending to financial institutions increased, central bank data showed.

United Overseas Bank Ltd and Oversea-Chinese Banking Corp climbed to an all-time high.

The Jakarta stock exchange firmed 0.6 per cent led by gains in financials and energy stocks. Coal miner Bayan Resources was the top gainer with a 20 per cent surge.

Indonesia's index of 45 most liquid stocks was up 0.7 per cent.

Thai shares were up marginally in thin volumes as the market awaits March factory output and trade volumes data. Thailand's March factory output likely rose at a slower pace, a Reuters poll showed.

Philippine stocks rose 0.5 per cent while Malaysian stocks were largely flat as gains from financials were offset by losses in utilities and consumer staples.

Vietnam was closed for a holiday.  

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