Southeast Asia stocks rise on earnings

Southeast Asian stock markets rose on Monday as investors bought shares in companies such as Genting Singapore Plc and PT Bank Mandiri Persero Tbk that showed strong quarterly results with rosier earnings prospects.

Singapore's Straits Times Index closed 0.02 per cent higher at 3288.76, with Genting among the top performers. It rose 1.9 per cent, adding on Friday's 3.7 per cent rise after the casino operator's results came above market estimates.

Jakarta's Composite Index gained nearly 1 per cent to 4696.11, a record close, with shares in Bank Mandiri up 2.1 per cent. The Philippine main index hit a record finish of 6,721.33, up 0.8 per cent. Malaysia's benchmark index ended near a one-week high of 1,627.35, up 0.3 per cent and Vietnam rose 1.3 per cent to 483.69. The Thai stock market was shut for a market holiday, and reopens on Tuesday.

The region for the most part saw light trading volume as concerns over the pace of the global economic recovery weighed.

The MSCI's broadest index of Asia-Pacific shares outside Japan was up 0.16 per cent by 0930 GMT.