Southeast Asian shares mostly traded mixed on Monday, with Indonesia and the Philippines rebounding after a recent bout of weakness.
Indonesia stock index rose 1.3 per cent after losing about 7 per cent in the previous seven consecutive sessions, hurt by disappointing first-quarter earnings.
“Risk reward is looking attractive albeit we suggest investors to buy sparingly as market still lacks positive catalyst,’’ Trimegah Securities wrote in a note to clients on Monday.
Indonesian conglomerate PT Astra International Tbk rose 4 per cent. Astra’s shares had lost about 14 per cent over the past seven sessions.
Shares of Indonesian property developer PT Lippo Karawaci Tbk rose 5.9 per cent, rebounding from their near seven-week low.
Stocks in the Philippines rose 1 per cent. Shares of property company SM Prime Holdings Inc were up 1.8 per cent after its first-quarter profit surged 176 per cent.
Meanwhile, shares in Singapore fell 0.1 per cent and Vietnam stocks posted 0.6 per cent decline. Thailand and Malaysian markets are closed for public holiday and will resume trade on May 5.
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.