(Oct 16): Southeast Asian stock markets broadly ended higher on Monday, with Singapore hitting an over two-month high, reflecting strength in global equities after upbeat Chinese data.
Asian shares rallied to a decade-high after figures showed China's producer prices beat market expectations, while Singapore shares extended gains for a third session on better-than-expected economic growth in the July-September quarter.
MSCI's broadest index of Asia-Pacific shares outside Japan rose for a fifth straight session to its highest since late 2007.
The trade-reliant economy's September export data is due on Tuesday. Analysts polled by Reuters expect a fifth consecutive month of rise in non-oil domestic exports.
"Singapore reported very strong economic growth, and overall sentiment in the global economy is at a sustainable pace, attributed to the inflation on the US side," said Colin Tan, an analyst from KGI Securities.
In the United States, soaring gasoline prices helped consumer prices in September grow the most in eight months, but underlying inflation remained muted.
In Southeast Asia, Indonesian stocks ended 0.4% higher after data showed that the region's largest economy posted a trade surplus, higher than what was recorded in August.
Thai stocks rose 0.9% to a fresh 24-year high, with energy and financial stocks driving gains.
Malaysia's benchmark index was flat at the end of trade as gains in utilities were offset by losses in financials.
Vietnam shares reversed course to end 0.2% lower, after earlier jumping to levels unseen in nearly a decade. The index snapped six consecutive sessions of gains.
Vietnam's state investor plans to sell a 3.33% stake in Vietnam Dairy Products JSC (Vinamilk), the biggest listed firm by market value, and one of the few state assets to attract significant interest from foreign investors.
The Philippine stock exchange was closed due to a transport strike.
SOUTHEAST ASIAN STOCK MARKETS
Change on the day
|Market||Current||Previous close||% move|
|Ho Chi Minh||819.43||820.95||-0.19|
Change on year
|Market||Current||End 2016||% move|
|Ho Chi Minh||819.43||664.87||23.2|