Southeast Asian stock markets ended higher on Monday, tracking a rally in broader Asian shares and upbeat US stock futures that rose after US President Donald Trump claimed that China would take down its trade barriers, soothing fears of a tariff war.
China, however, said that Washington was to blame for trade frictions, repeating that it was impossible to negotiate under "current circumstances". Investors are now waiting for a speech by Chinese President Xi Jinping at the Boao Forum on Tuesday.
Asia shares ex-Japan rose 0.6%, while the US S&P 500 e-Mini futures climbed 0.8%.
The Stock Exchange of Thailand main index advanced 11.35 points or 0.65% to close at 1,751.27, in trade worth 55.59 billion baht, with shares of PTT Plc up 1.5% and Siam Cement Plc climbing 2.1%.
Thailand's economy is expected to grow 4.1% this year, up from a forecast 3.6%, as the recovery is broadening, the World Bank said on Monday.
In other Southeast Asian markets, Indonesian shares rose 1.2%, with Telekomunikasi Indonesia gaining 3.3% and mining contractor United Tractors rising 2.2%.
Malaysian shares ended 0.7% higher, their third session of gains, underpinned by higher material stocks. Press Metal Aluminium Holdings Bhd surged 13.8%, while Petronas Chemicals Group Bhd jumped 3.4%.
Vietnam touched a record closing high, led by financials and real estate stocks. Vietnam Joint Stock Commercial Bank for Industry and Trade jumped 5.6%, while Vingroup JSC climbed 1.9%, both hitting record closing highs.
Singapore shares rose for a third straight session, led by gains in financials.
The Philippine stock market was closed for a holiday.
|
Southeast Asian stock markets |
|
||
|
|
Current |
Previous |
% change |
|
Thailand |
1,751.27 |
1,739.92 |
+0.65 |
|
Indonesia |
6,246.13 |
6,175.05 |
+1.15 |
|
Malaysia |
1,849.71 |
1,837.01 |
+0.69 |
|
Philippines |
|
|
Closed for holiday |
|
Singapore |
3,449.96 |
3,442.50 |
+0.22 |
|
Vietnam |
1,203.33 |
1,199.96 |
+0.36 |
