Southeast Asian stock markets rose on Monday, with Malaysia's benchmark index hitting an all-time high, as investors added positions in riskier assets after surprisingly firm China manufacturing data. Malaysia's main share index gained 0.5 percent to 1,603.8, while Jakarta's Composite Index rose 1.1 percent to 4,166.1, the highest since August 2011.
Optimism in Indonesia was partly fuelled by the postponement of fuel hike that has concerned market investors of rising inflation, said analyst Yasmin Soulisa of broker Batavia Prosperindo Sekuritas. Thailand inched up 0.2 percent and the Philippine index reversed early losses to end up nearly 0.1 percent.
Singapore's main share index edged up 0.2 percent. Shares in DBS Group Holdings are expected to fall on Tuesday after Southeast Asia's biggest bank agreed to pay $7.24 billion for Indonesia's Bank Danamon, offering a 52 percent premium for a middle-ranking lender with high funding costs, raising questions on the price. DBS said trading in its shares will resume on Tuesday. Vietnam was closed on Monday for a national holiday.
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