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CORRECTED-SE Asia Stocks-Weaker dollar, bond yields lift risk appetite; S'pore hits 14-mth high
January 12, 2017 / 5:24 AM / 9 months ago

CORRECTED-SE Asia Stocks-Weaker dollar, bond yields lift risk appetite; S'pore hits 14-mth high

(Corrects date of dollar's low against yen in second paragraph)
    By Anusha Ravindranath
    Jan 12 (Reuters) - Most Southeast Asian stock markets rose
on Thursday, in line with Asian peers, as a weaker U.S. dollar
and bond yields fuelled risk appetite in emerging markets after
President-elect Donald Trump provided scant clarity on future
fiscal policies.
    The dollar eased against the perceived safe-haven yen on
renewed uncertainty about Trump's policies while lower Treasury
yields also undermined the greenback. It fell as low as 114.245
yen, its deepest nadir since Dec. 9. 
    MSCI's broadest index of Asia-Pacific shares outside Japan
 climbed 0.8 percent to its highest since late
October. 
    The rally in emerging markets is triggered by the correction
in the dollar, said April Lee Tan of COL Financial, adding that:
    "One of the reasons why they were sold off post Trump's
victory was that investors were expecting rapid economic
policies out of the United States."
    Trump's win in November had sparked a major realignment in
markets, with expectations of tax cuts, fiscal spending and
deregulation sending U.S. bond yields and dollar higher, while
prompting capital outflows from emerging economies. 
    Singapore shares rose as much as 0.7 percent to their
highest in 14 months. Financials drove the gains with DBS Group
 and United Overseas Bank adding 0.9 percent
and 0.7 percent, respectively. Global Logistic Properties
 was the top performer with a rise of 3.2 percent. 
    Malaysian shares climbed as much as 0.45 percent to
their highest in four months and were on track for a third
straight session of gains, helped by telecom and financial
stocks. Telecom operator Axiata Group Bhd rose 1.06
percent and was among the top gainers. 
    Jakarta gained as much as 0.4 percent, helped by
financial and real estate stocks, while Thailand rose
for a third straight session as an overnight rally in oil
boosted energy stocks. Both PTT Pcl and Thai Oil Pcl
 rose more than 1 percent. 
    Philippine shares fell for a second consecutive
session, hurt by losses in financial and industrial stocks,
while Vietnam was flat.  

For Asian Companies click;  

SOUTHEAST ASIAN STOCK MARKETS AS OF 0443 GMT    
  Market        Current   previous  Pct Move
                          close     
  Singapore     3008.1    3000.94   0.24
  Bangkok       1574.5    1572.93   0.10
  Manila        7301.72   7321.82   -0.27
  Jakarta       5312.581  5301.237  0.21
  Kuala Lumpur  1678.73   1675.21   0.21
  Ho Chi Minh   686.99    687.16    -0.02
                                    
 Change so far                      
 this year                          
  Market        Current   End 2016  Pct Move
  Singapore     3008.1    2880.76   4.42
  Bangkok       1574.5    1542.94   2.05
  Manila        7301.72   6840.64   6.74
  Jakarta       5312.581  5296.711  0.30
  Kuala Lumpur  1678.73   1641.73   2.25
 Ho Chi Minh    686.99    664.87    3.32
 
 (Reporting by Anusha Ravindranath in Bengaluru; Editing by
Subhranshu Sahu)

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