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SE Asia Stocks-Singapore hits 14-mth high; Philippines up for fifth session
January 9, 2017 / 10:18 AM / a year ago

SE Asia Stocks-Singapore hits 14-mth high; Philippines up for fifth session

By Sandhya Sampath
    Jan 9 (Reuters) - Singapore shares ended higher in cautious
trade on Monday after hitting their highest in fourteen months,
while three out of the five other Southeast Asian markets ended
lower, in line with broader Asia.
    Singapore's FTSE Straits Times Index closed up 0.6
percent after hitting its highest since November 2015 and rising
for a fifth straight session.
    Financial and industrial stocks led the gains, boosted by
Friday's data showing a rebound in U.S. wages and suggesting
sustained labour market momentum.
    As most of Singapore's exports go to the United States,
strong U.S. jobs data is positive for the city-state, said Mikey
Macainag, an analyst with Sunsecurities Inc.
    DBS Group Holdings gained 1 percent, while casino
operator Genting Singapore Plc gained 2.7 percent. 
    Philippine shares also extended gains for a fifth
straight session, closing 0.4 percent higher, led by gains in
telecom shares, with telecom services provider PLDT Inc 
gaining 4.2 percent.
    Foreign buying worth about 249 million pesos ($5.02 million)
helped the Philippine market, said Manny Cruz, an analyst with
Manila-based Asiasec Equities Inc.    
    On the other end of the spectrum, Indonesian stocks,
Thailand stocks and Malaysian stocks fell about
half a percent, in line with Asian peers.
    Asian stocks gave up early gains as investor caution grew
before a news conference by U.S. President-elect Donald Trump on
Wednesday, where his views on global trade and China will be
carefully scrutinised for future policy implications.
    MSCI's ex-Japan Asia-Pacific shares index 
was flat on the day, having risen as much as 0.5 percent after
posting a loss in the previous session.
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  STOCK MARKETS                                            
  Change on the day                                        
  Market             Current      previous close  Pct Move
  Singapore          2981.54      2962.63         0.64
  Bangkok            1564.08      1571.48         -0.47
  Manila             7276.34      7248.2          0.39
  Jakarta            5316.364     5347.022        -0.57
  Kuala Lumpur       1667.9       1675.49         -0.45
  Ho Chi Minh        682.57       679.8           0.41
  Change this year                                
  Market             Current      End 2016        Pct Move
  Singapore          2981.54      2880.76         3.50
  Bangkok            1564.08      1542.94         1.37
  Manila             7276.34      6840.64         6.40
  Jakarta            5316.364     5296.711        0.37
  Kuala Lumpur       1667.9       1641.73         1.59
  Ho Chi Minh        682.57       664.87          2.70
($1 = 49.6190 Philippine pesos)

 (Reporting by Sandhya Sampath; Additional reporting by Susan
Mathew; Editing by Amrutha Gayathri)

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