Vietnam stocks hit record, SE Asia gain as US stock futures climb

By Reuters   April 9, 2018 | 03:30 pm GMT+7
Vietnam stocks hit record, SE Asia gain as US stock futures climb
A trader on the floor of the New York Stock Exchange watches the stock market drop on his screen shortly before the closing bell in New York, U.S., April 6, 2018. Photo by Reuters/Lucas Jackson

Shares in Vietnam marked a fresh all-time peak and were on track to end higher for the 18th session in 21.

Southeast Asian stock markets inched higher on Monday as a bounceback in U.S. stock futures whetted risk appetite, although heightened trade tensions between the United States and China tempered the gains.

Shares in Vietnam, the only market in Southeast Asia with double-digit percentage gains year-to-date, marked a fresh all-time peak and were on track to end higher for the 18th session in 21.

Asian shares outside Japan rose nearly one percent, while the U.S. S&P 500 E-Mini futures climbed 0.6 percent, even as President Donald Trump kept up his twitter war with China.

The two countries have threatened each other with tens of billions of dollars' worth of tariffs in recent days and Chinese officials have said this is not the time for negotiations.

Malaysian shares climbed 0.6 percent, helped by materials stocks. 

Press Metal Aluminium Holdings Bhd jumped 10.7 percent, on track to end higher for a second session in 12. Petronas Chemicals Group Bhd climbed 3 percent to a record. 

Indonesian shares rose as much as 0.5 percent. United Tractors Tbk PT jumped 4.8 percent to an over 1-1/2-month high, while Astra International Tbk PT, the country's largest automotive distributor, gained 1.7 percent. 

Singapore shares shed as much as 0.8 percent early in the session, before reversing course and climbing 0.3 percent.

DBS Group Holdings Ltd rose 1.3 percent, while Singapore Telecommunications Ltd shed 0.9 percent. 

Singapore central bank's semiannual monetary policy statement as well as the city-state's first-quarter economic growth data are due on Friday.

The Monetary Authority of Singapore is expected to tighten its exchange-rate based policy at its review, according to 12 of 19 analysts polled in a Reuters survey. 

The government's advance estimate of first-quarter gross domestic product is expected to show that GDP expanded 1.0 percent from the previous three months on an annualised basis, according to the median forecast in a Reuters survey.

The Philippine stock market was closed for a holiday.

 
 
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