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SE Asia Stocks-Mostly up; Philippines gains over 2 percent
December 8, 2016 / 10:43 AM / a year ago

SE Asia Stocks-Mostly up; Philippines gains over 2 percent

By Geo  Tharappel
    Dec 8 (Reuters) - Most Southeast Asian markets ended higher
on Thursday, in line with broader Asia on expectations that the
European Central Bank (ECB) would extend its asset-buying
programme, while Singapore trimmed early gains to close flat.
    Later in the day, the ECB is expected to extend its
quantitative easing (QE) programme by six months while keeping
the size of its monthly asset purchases unchanged. 
    Sentiment was also aided by upbeat trade figures from China,
with exports and imports in November beating forecasts.
    MSCI's broadest index of Asia-Pacific shares outside Japan
 gained 1.4 percent to hit a one-month high.
    The Philippines hit its highest closing in more than
two weeks. The bourse was pulled up by real estate stocks and
industrials, with Ayala Land Inc climbing 5 percent,
while SM Prime Holdings Inc gained 5 percent, its
highest close since Oct. 25. 
    "(Philippine shares) are in oversold territory and they are
also ripe for the 'Santa Claus rally'," said Mikey Macainag, an
analyst with Manila-based Sunsecurities Inc, referring to a
year-end rise.
    Property companies, which lease to outsourcing enterprises,
witnessed a drop after Donald Trump's surprise victory in the
U.S. elections.
    "It's still too early to say what the Trump administration
will do about the BPO companies... the only thing they can do
about it is to increase the taxes," Macainag added.
    Conglomerate JG Summit Holdings Inc jumped to a
more-than-two-week high in heavy trade.
    Singapore shares eased from a one-year high to end
flat, with gains in telecoms and real estate stocks being offset
by declines in consumer discretionary and financials.
    Top lender DBS Group Holdings Ltd was the biggest
drag on the index, and posted its first session of losses in
    Indonesia and Malaysia closed up to post
near one-month highs. 
For Asian Companies click;  

  Change on day                                             
  Market             Current        Prev close    Pct Move
  Singapore          2958.86        2959.84       -0.03
  Bangkok            1525.41        1520.53       0.32
  Manila             7022.38        6866.81       2.27
  Jakarta            5303.734       5265.368      0.73
  Kuala Lumpur       1643.75        1632.47       0.69
  Ho Chi Minh        658.89         653.53        0.82
  Change this year                                
  Market             Current        End 2015      Pct Move
  Singapore          2958.86        2882.73       2.64
  Bangkok            1525.41        1288.02       18.43
  Manila             7022.38        6952.08       1.01
  Jakarta            5303.734       4593.008      15.47
  Kuala Lumpur       1643.75        1692.51       -2.88
  Ho Chi Minh        658.89         579.03        13.79

 (Reporting by Geo Tharappel in Bengaluru; Editing by Sherry

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