January 4, 2017 / 5:14 AM / in 7 months

SE Asia Stocks-Higher; Philippines rises nearly 2 pct

4 Min Read

By Susan Mathew
    Jan 4 (Reuters) - Southeast Asian stock markets, except
Indonesia, rose on Wednesday as investors took cues from a rally
on Wall Street  and European markets overnight which were
boosted by upbeat factory activity data in the United States and
the euro zone.
    U.S. factory activity accelerated to a two-year high in
December, while construction spending hit a 10-1/2-year high in
November. In the euro zone, manufacturing activity hit the
fastest pace in more than five years in December. 
   
    In Southeast Asia, Philippine shares rose as much as 
2 percent to its highest in more than three weeks, led by
industrial and financial stocks.
    Ayala Corp rose more than 3 percent to its highest
in more than a month, while SM Prime Holdings Inc 
gained as much as 3.7 percent.
    Investor sentiment also ticked up after local media reported
that President Rodrigo Duterte was likely to take a close look
at the issue of raising pensions under the Social Security
System, as any hike would increase the unfunded liabilities of
the insurance program if not accompanied by higher
contributions. (bit.ly/2iGrwUE)
    "This was one of his campaign promises and this will show
that not all campaign promises become reality after the
President actually sits in office and actually analyses
different problems," said Joseph Roxas, president of
Manila-based Eagle Equities Inc.
    Singapore stocks rose as much as 0.8 percent, their
best intraday percentage gain since Nov. 30, with consumer
shares and financials pushing up the index.
    DBS Group Holdings Ltd and United Overseas Bank
Ltd each gained more than 1 percent, while Singapore
Airlines Ltd added 0.3 percent.
    Thai stocks were up as much as 0.9 percent,
extending gains into a seventh straight session, to hit their
highest in nearly five months.
    Malaysia rose 0.5 percent, while Vietnam stocks
 climbed to its highest in more than two weeks.
    For Asian Companies click;  

SOUTHEAST ASIAN STOCK MARKETS: Change at 0458 GMT
    
  Market            Current       Previous Close  Pct Move
  Singapore         2921.03       2898.97         0.76
  Bangkok           1556.54       1542.94         0.88
  Manila            6992.22       6861.31         1.91
  Jakarta           5267.974      5275.971        -0.15
  Kuala Lumpur      1643.46       1635.53         0.48
  Ho Chi Minh       674.99        672.01          0.44
                                                  
  Change on year                                  
  Market            Current       End 2016        Pct Move
  Singapore         2921.03       2880.76         1.40
  Bangkok           1556.54       1542.94         0.88
  Manila            6992.22       6840.64         0.58
  Jakarta           5267.974      5296.711        -0.54
  Kuala Lumpur      1643.46       1641.73         0.11
  Ho Chi Minh       674.99        664.87          0.44
 
 (Reporting by Susan Mathew in Bengaluru; Additional reporting
by Sandhya Sampath; Editing by Biju Dwarakanath)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below