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SE Asia Stocks-Largely up on Wall Street gains; Philippines down
February 10, 2017 / 10:30 AM / 10 months ago

SE Asia Stocks-Largely up on Wall Street gains; Philippines down

By Christina Martin
    Feb 10 (Reuters) - Most Southeast Asian stock markets ended
higher on Friday, tracking gains on Wall Street after U.S.
President Donald Trump said he would make a major tax
announcement in a few weeks to lower the burden on businesses.
    The three main U.S. stock indexes surged to record highs,
while Asian shares rallied to an 18-month peak on upbeat Chinese
trade data and strong gains on Wall Street.  
    "The U.S. (market) was very strong last night, so that
momentum has come through, and this is presumably in
anticipation of Trump's reflationary promises," said Nicholas
Teo, a trading strategist at KGI Securities (Singapore) Pte Ltd.
    Singapore shares rose 0.7 percent to its highest
close since August 2015, helped by financials and industrials. 
    DBS Group Holdings Ltd rose 0.8 percent, United
Overseas Bank Ltd climbed 0.6 percent, and Keppel Corp
Ltd jumped 1.6 percent.
    Malaysian shares hit their highest in over nine
months with financials leading the gains. 
    Malayan Banking Bhd added 1.2 percent, while CIMB
Group Holdings rose 1.6 percent.
    Malaysia's industrial production in December rose 4.7
percent from a year ago, led by growth in the mining,
manufacturing and electricity sectors, government data showed.
    Thai shares posted marginal gains, while Vietnam
 rose 0.5 percent to its highest close in one week. 
    Indonesian shares pared early gains to end flat but
posted their third consecutive weekly rise.
    Philippine shares came of early lows to close
marginally down with industrials and financials leading the
    "The current crackdown on the mining industry is affecting
the stock market right now," said Rachel Cruz, a research
analyst with AP Securities. 
    The country's exports in December climbed 4.5 percent from a
year earlier while imports increased by 19.1 percent.
    "The growth in exports was actually expected because of the
weaker peso. We see this as a positive catalyst for the export
market," added Cruz. 
For Asian Companies click;  

  Market            Current       Previous Close  Pct Move
  Singapore         3100.39       3079.96         0.66
  Bangkok           1585.24       1583.25         0.13
  Manila            7235.21       7252.66         -0.24
  Jakarta           5371.669      5372.077        -0.01
  Kuala Lumpur      1698.94       1688.5          0.62
  Ho Chi Minh       703.78        700.65          0.45
  Change this year                                
  Market            Current       End 2016        Pct Move
  Singapore         3100.39       2880.76         7.62
  Bangkok           1585.24       1542.94         2.74
  Manila            7235.21       6840.64         5.77
  Jakarta           5371.669      5296.711        1.42
  Kuala Lumpur      1698.94       1641.73         3.48
  Ho Chi Minh       703.78        664.87          5.85

 (Reporting by Christina Martin; Editing by Subhranshu Sahu)

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