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CORRECTED-SE Asia Stocks-Singapore falls on profit-booking; Philippines up 1 pct
November 23, 2017 / 10:30 AM / 20 days ago

CORRECTED-SE Asia Stocks-Singapore falls on profit-booking; Philippines up 1 pct

 (Corrects paragraph 3 to show benchmark closed down 0.2 pct,
not 0.3 pct)
    By Sumeet Gaikwad
    Nov 23 (Reuters) - Singapore shares fell on Thursday on
concerns over tighter monetary policy following strong growth
data and as investors took profits after four straight sessions
of gains, while the Philippine index rose about 1 percent
on industrials.
    In Asian stock markets, moves were mostly minor, with Japan 
closed for a holiday. U.S. stocks were little changed on
Wednesday ahead of the Thanksgiving holiday.
    Singapore shares closed down 0.2 percent, with
lenders OCBC falling 0.3 percent and DBS Group
Holdings declining 0.9 percent. Thai Beverage
 dropped 1.6 percent.
    "What we are seeing today...is that it (the index) is just
taking a breather," said Wong Kok Hoong, sales trader at Maybank
Kim Eng Securities.
    The city-state's economy grew at its fastest pace in nearly
four years in the third-quarter, thanks to a boom in
manufacturing that some analysts say will encourage tighter
monetary policy in 2018.
    Singapore and other trade-reliant economies in Asia have
received a boost this year from an improvement in global demand,
with Thailand and the Philippines also reporting
better-than-expected economic growth figures.

     Philippine shares rose, with index heavyweight SM
Investments Corp up 1.5 percent and Aboitiz Equity
Ventures gaining 4.4 percent.
    "The infrastructure program of the government and the
investment climate of the country is improving," said a
Manila-based analyst, who did not want to be named.
    The Philippine tax reform bill, aimed at generating revenue
to fund a multi-billion dollar infrastructure program, is
awaiting Senate approval.    
    Vietnam closed 0.1 percent higher, after earlier
rising as much as 1 percent to a fresh near-decade peak. 
    Real estate firm Vingroup JSC gained 0.7 percent,
while Vietnam Joint Stock Commercial Bank for Industry and Trade
 jumped 4.6 percent.
    Indonesian stocks edged lower, with an index of the
country's 45 most liquid stocks ending little changed.
    
For Asian Companies click;  

SOUTHEAST ASIAN STOCK MARKETS: CHANGE ON DAY
 Market          Current   Previous Close  Pct Move
 Singapore       3423.17   3430.02         -0.20
 Bangkok         1707.38   1713.13         -0.34
 Manila          8343.23   8265.68         0.94
 Jakarta         6063.245  6069.785        -0.11
 Kuala Lumpur    1721.27   1723.54         -0.13
 Ho Chi Minh     933.7     932.66          0.11
                                           
 Change on year                            
 Market          Current   End 2016        Pct Move
 Singapore       3423.17   2880.76         18.83
 Bangkok         1707.38   1542.94         10.66
 Manila          8343.23   6840.64         21.97
 Jakarta         6063.245  5296.711        14.47
 Kuala Lumpur    1721.27   1641.73         4.84
 Ho Chi Minh     933.7     664.87          40.43
 
 (Reporting by Sumeet Gaikwad in Bengaluru, Adittional reporting
by Aditya Soni; Editing by Biju Dwarakanath)
  

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