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Southeast Asian stocks rise on upbeat data

| Updated: November 17, 2017 15:14:33


File Photo (Reuters) File Photo (Reuters)

Most Southeast Asian stock markets firmed on Thursday, with Indonesia climbing about 1.0 per cent, as upbeat US and regional economic data boosted sentiment.

Broader Asian equities gained after data showed that underlying US consumer prices increased in October and retail sales grew more than expected, highlighting strong economic growth.

Philippine shares climbed 0.1 per cent, with real estate stocks leading the gains, reports Reuters.

The Indonesian index rose as much as 1.1 per cent, marking its biggest intraday gain in two weeks, with the telecom sector accounting for most of the gains.

Perusahaan Perseroan (Persero) PT Telekomunikasi Indonesia Tbk inched 1.9 per cent higher, and was the biggest boost on the index.

Vietnam shares jumped 0.6 per cent to their highest since January 2008.

Malaysian shares declined 0.1 per cent to an eight-month low, with health care and telecom stocks leading the losses.

IHH Healthcare Berhad was down 0.7 per cent, while banker CIMB Group Holdings Berhad fell 0.2 per cent.

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