BANGKOK: Southeast Asian stocks rose on Tuesday, tracking broader Asia, with the Indonesian benchmark outperforming after upbeat inflation and trade data.
Indonesia’s key index climbed 1.4 per cent after the government reported a trade surplus for August, its first since March, and said consumer prices in September fell 0.35 per cent from the previous month.
Bank Mandiri and Bank Rakyat Indonesia shares led the gains. The two were among the large caps battered by foreign outflows from Indonesian equities over the past week.
Stocks in Thailand and the Philippines staged a mild rebound after declining in the July-September quarter, with short-covering lifting shares such as Siam Commercial Bank Pcl and Alliance Global Group.
In Bangkok, the market focus was on release of inflation data for September, which was expected to be little-changed from the previous month at 1.56 per cent, kept in check by government controls and subsidies as well as slowing domestic demand.
"Investors should closely watch the Thai inflation rate for September," strategists at Maybank Kim Eng Securities wrote in a report.
"Although the Thai economic numbers for August were flat from July, the trade balance turned positive for the first time in five months. However, Thai flood concerns could pressure consumer spending in September-October," they said.
Thailand had a current account surplus of US$1.29 billion in August, its first since March, and exports rose for the first time since April, the central bank reported on Monday.
Malaysia’s main index pared early gains to slide 0.13 per cent, led by banking shares including Malayan Banking and CIMB Group Holdings.
Malaysian stocks posted a relatively modest loss from the previous session, helped by foreign buying at the end of the quarter, bucking foreign outflows elsewhere in the region, including Indonesia, Thailand and the Philippines.-- Reuters