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8 months ago
SE Asia Stocks-Indonesian shares up 1 pct; Philippines down on profit-taking
December 29, 2016 / 5:28 AM / 8 months ago

SE Asia Stocks-Indonesian shares up 1 pct; Philippines down on profit-taking

By Christina Martin
    Dec 29 (Reuters) - Southeast Asian stock markets, except
Singapore and the Philippines, were up on Thursday after a
subdued start in early trade tracking losses on Wall Street
overnight that fell partly due to weak U.S. home resales data.
 
    Contracts to buy previously-owned U.S. homes fell in
November to their lowest level in nearly a year, which was seen
by many as a sign that rising interest rates could be weighing
on the housing market. 
    Indonesian shares, which closed at their highest
since mid-December on Wednesday, rose as much as 1.2 percent to
hit a 2-week high, their third consecutive session of gains.
    "Indonesia promises to provide significant yields next year
due to improvement of their fundamentals," said Manny Cruz, an
analyst with Manila-based Asiasec Equities Inc.
     "Well, it's one of the most favoured markets next year
aside from India and Vietnam." 
    Consumer stocks and financials led the gainers, with Bank
Central Asia, the biggest bank by market value, up as
much as 2.2 percent and automotive business Astra International
 as much as 2.9 percent higher.
    Philippine shares, which rose nearly 3 percent in the
previous session, fell 0.6 percent on profit-booking as consumer
stocks and realtors, the drivers of Wednesday's gains, lost
ground.
    "I think some investors have opted to cash in from the
recent gains," said Cruz. 
    Real estate developers SM Prime Holdings Inc fell
1.2 percent and Ayala Land Inc was 0.5 percent lower.
    Conglomerate SM Investment Corp fell 2.5 percent.  
    Singapore slipped as much as 0.7 percent, its biggest
intraday percentage loss in a week, as financial and industrial
stocks pulled the index down.
   Jardine Matheson Holdings and Singapore
Technologies Engineering Ltd, down about 1 percent
each, were among the biggest losers on the benchmark. 
   Thailand, Malaysia and Vietnam posted
small gains. 
    In Asia, MSCI's broadest index of Asia-Pacific shares
outside Japan was last up 0.2 percent.
 

For Asian Companies click;  

SOUTHEAST ASIAN STOCK MARKETS as at 0443 GMT

  Market           Current       Previous     Pct Move
                                 Close        
  Singapore        2885.07       2898.3       -0.46
  Bangkok          1528.19       1524.6       0.24
  Manila           6815.66       6846.44      -0.45
  Jakarta          5270.478      5209.445     1.17
  Kuala Lumpur     1633.61       1630.3       0.20
  Ho Chi Minh      665.14        663.5        0.25
                                              
  Change on year                              
  Market           Current       End 2015     Pct Move
  Singapore        2885.07       2882.73      0.08
  Bangkok          1528.19       1288.02      18.65
  Manila           6815.66       6952.08      -1.96
  Jakarta          5270.478      4593.008     14.75
  Kuala Lumpur     1633.61       1692.51      -3.48
  Ho Chi Minh      665.14        579.03       14.87
 


 (Reporting by Christina Martin; Additional reporting by Susan
Mathew; Editing by Biju Dwarakanath)

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