May 31, 2017 / 10:47 AM / 2 months ago

SE Asia Stocks-Singapore marks 5th straight winning month, Indonesia ends higher

3 Min Read

    By Chris Thomas
    May 31 (Reuters) - Singapore's shares edged up on Wednesday,
clocking their fifth straight winning month, while Indonesian
stocks also rose in the session, extending their gains to the
fourth consecutive month.
    Asian markets were buoyed by data showing the manufacturing
sector in China grew faster than expected in May on robust
construction and infrastructure investment.
    While China's PMI data has had a short-term effect on the
Southeast Asian markets, it does not look like a game changer,
said Taye Shim, head of research at Jakarta-based Mirae Asset
Sekuritas.
    Philippine shares fell 0.3 percent, closing at its
lowest in a week, dragged by telecom stocks such as PLDT Inc
 and real estate stock Ayala Land. 
    However, the index clocked a monthly gain of 2.3 percent.
    "The market has fallen prey to profit-taking in the absence
of any market-scaling developments," said Manny Cruz, an analyst
with Manila-based Asiasec Equities Inc.
    Indonesian shares closed up 0.8 percent, with PT
Bank Rakyat Indonesia (Persero) Tbk and PT Semen
Baturaja (Persero) Tbk driving the gains.
    An index of Indonesia's 45 most liquid stocks
gained as much as 0.9 percent.
    Singapore shares rose 0.2 percent, bringing its
monthly gain to 1.1 percent. 
    Oversea-Chinese Banking Corp, the city-state's
second biggest lender, rose to its highest in nearly a week,
while beer manufacturer Thai Beverage Pcl rose as much
as 5.4 percent and was the biggest contributor to the index's
gains.
    Rating agency Moody's Investors Service raised its outlook
on Singapore's banks to stable from negative, saying loan growth
would increase mildly but be sustained by the system's strong
capital, funding and liquidity buffers. bit.ly/2rCmc9E
    Meanwhile, Thai shares ended at its lowest in more
than a week. Mobile operator Advanced Info Service Pcl
 posted its biggest drop in eight weeks, pulling the
index down.    
    
For Asian Companies click;  

SOUTHEAST ASIAN STOCK MARKETS: Change on day
    
  Market          Current      Previous Close  Pct Move
  Singapore       3210.82      3204.79         0.19
  Bangkok         1561.66      1568.57         -0.44
  Manila          7837.12      7860.77         -0.30
  Jakarta         5738.155     5693.391        0.79
  Kuala Lumpur    1765.87      1765.34         0.03
  Ho Chi Minh     737.82       738.21          -0.05
                                               
  Change on year                               
  Market          Current      End 2016        Pct Move
  Singapore       3210.82      2880.76         11.46
  Bangkok         1561.66      1542.94         1.21
  Manila          7837.12      6840.64         14.57
  Jakarta         5738.155     5296.711        8.33
  Kuala Lumpur    1765.87      1641.73         7.56
  Ho Chi Minh     737.82       664.87          10.97
 


 (Reporting by Chris Thomas; Editing by Amrutha Gayathri)
  

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