* Singapore boosted by gains in financials
* Banks and energy stocks help Thailand
By Soumyajit Saha
Oct 7 (Reuters) - Singapore stocks .STI snapped three
sessions of losses to gain on Monday, while most other southeast
Asian stock markets were little changed in thin volumes as
markets in China and Hong Kong were closed for a public holiday.
Gains in financial and telecommunication sectors helped the
city-state rise, with lender DBS Group Holdings DBSM.SI
gaining 1% and Singapore Telecommunications STEL.SI up 1.3%.
"Singapore is reacting in response to the strength in the
U.S. markets on Friday," Linus Loo, head of research at Lim &
Tan Securities said.
U.S. markets rose on Friday after data showed the U.S.
unemployment rate dropped to the lowest in almost 50 years,
easing slowdown concerns. Investors in broader southeast Asia were cautious after
Bloomberg reported that Chinese officials have narrowed down the
list of topics they were willing to negotiate on in talks slated
to begin on Thursday.
"There is caution in the market given the disappointing
results to talks in the past," Linus added.
Thai shares .SETI advanced, helped by gains in banking and
energy stocks. Lender Kasikornbank KBANK.BK advanced 1.7%,
while oil explorer PTT Exploration and Production PTTEP.BK
gained 1.3%.
Thailand's central bank governor on Friday said the bank is
ready to take policy action if needed, adding that it would
further relax rules on capital outflows in the face of a strong
baht. Meanwhile, Indonesian stocks .JKSE fell, dragged down by
losses in consumer and resources sectors.
Consumer goods maker Unilever Indonesia UNVR.JK lost 1.8%,
while cement maker Indocement Tunggal Prakarsa INTP.JK was
down 2.8%.
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SOUTHEAST ASIAN STOCK MARKETS AS AT 0418 GMT
STOCK MARKETS
Change on the day
Market Current Previous Pct Move
close
Singapore 3098.74 3078.36 0.66
Bangkok 1609.44 1605.96 0.22
Manila 7715.85 7704.6 0.15
Jakarta 6040.785 6061.252 -0.34
Kuala Lumpur 1558.98 1557.67 0.08
Ho Chi Minh 988.18 987.59 0.06
Change so far in
2019
Market Current End 2018 Pct Move
Singapore 3098.74 3068.76 0.98
Bangkok 1609.44 1563.88 2.91
Manila 7715.85 7,466.02 3.35
Jakarta 6040.785 6,194.50 -2.48
Kuala Lumpur 1558.98 1690.58 -7.78
Ho Chi Minh 988.18 892.54 10.72