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SE Asia Stocks-Largely up; Indonesia gains nearly 2 pct
December 29, 2016 / 9:49 AM / 9 months ago

SE Asia Stocks-Largely up; Indonesia gains nearly 2 pct

By Christina Martin
    Dec 29 (Reuters) - Most Southeast Asian stock markets closed
higher in thin trade on Thursday despite a subdued start
following an overnight fall in Wall Street 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 ended up as much as 1.96 percent,
their highest since Nov. 11, helped by financial and consumer
stocks.
    "Indonesia promises to provide significant yields next year
due to improvement of their fundamentals," said Manny Cruz, an
analyst at Manila-based Asiasec Equities Inc.
    Bank Central Asia, the biggest bank by market
value, ended 4.24 percent higher while automaker Astra
International rose 3.83 percent.
    Philippine shares, which rose nearly 3 percent in the
previous session, pared early losses to end flat.
    "There has been some window dressing before closing which
helped trim market losses," said Cruz. 
    "There has also been a decline over the past few months
which has compelled bargain hunters to buy."
    Singapore closed 0.3 percent lower, dragged by
financial and industrial stocks. 
    The government's advance estimate of fourth-quarter GDP is
due on Tuesday next week. 
    The biggest losers on the benchmark index were Comfortdelgro
Corporation Ltd, down 3.9 percent to its lowest close
in a month, and Singapore Technologies Engineering Ltd
, down 1.2 percent. 
    Thailand, Malaysia and Vietnam posted
marginal gains.
    In Asia, MSCI's broadest index of Asia-Pacific shares
outside Japan was last up 0.3 percent.
 
    
    
For Asian Companies click;  

SOUTHEAST ASIAN STOCK MARKETS as at 0941 GMT
  Market          Current     Previous  Pct Move
                              Close     
  Singapore       2889.15     2898.3    -0.32
  Bangkok         1537.81     1524.6    0.87
  Manila          6840.64     6846.44   -0.08
  Jakarta         5302.566    5209.445  1.79
  Kuala Lumpur    1637.93     1630.3    0.47
  Ho Chi Minh     664.72      663.5     0.18
                                        
  Change on year                        
  Market          Current     End 2015  Pct Move
  Singapore       2889.15     2882.73   0.22
  Bangkok         1537.81     1288.02   19.39
  Manila          6840.64     6952.08   -1.60
  Jakarta         5302.566    4593.008  15.45
  Kuala Lumpur    1637.93     1692.51   -3.22
  Ho Chi Minh     664.72      579.03    14.80
 

    

 (Reporting by Christina Martin in Bengaluru; Editing by Vyas
Mohan)

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