Japan, Thailand stocks post highest Asia gains in Sept – Reuters News
Oct 2 (Reuters) – Japanese and Thai shares posted the largest gains among Asia-Pacific equities in September, buoyed by confidence in economic conditions in the respective countries.
The Japanese yen JPY= fell 2.2 pct against the greenback in September, supporting shares of Japanese exporters and financials. Broader market sentiment was also boosted by Prime Minister Shinzo Abe’s call for a snap election on Oct. 22, a move geared to take advantage of his improved approval ratings. (Full Story)
Confidence in Thai equities strengthened on improving macroeconomic fundamentals with Thailand’s central bank keeping its key policy rate unchanged at it monthly meeting amid firmer confidence in the economy, despite calls for a cut to stem the baht’s gains. (Full Story) (Full Story) (Full Story)
Among Asia’s biggest losers in September were Taiwan stocks, which fell 1.9 pct, and Singapore, which declined 1.75 pct. Hong Kong, India and Malaysia stocks fell between 1 – 1.5 percent.
In dollar terms, India has posted the largest gains so far this year, followed by Hong Kong and South Korea. As of the end of September, the three markets are up 24.16 percent, 23.73 percent and 23.45 percent, respectively.
According to Thomson Reuters IBES estimates, Indian and New Zealand equities are the most valued in Asia Pacific, with price to current years EPS at 20.74 percent and 20.7 percent, respectively.