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SE Asia Stocks-Most end higher; Philippines hits record closing high
November 6, 2017 / 10:36 AM / a month ago

SE Asia Stocks-Most end higher; Philippines hits record closing high

    By Karthika Suresh Namboothiri
    Nov 6 (Reuters) - Southeast Asian stock markets broadly
ended higher on Monday, with Philippines posting a record close
buoyed by gains in industrials and financials. 
    The Philippines index jumped 1.8 percent, ending the
day at a record closing high, with San Miguel Corporation
 rising as much as 7.2 percent to 108.6 pesos, its
highest in more than five months. 
    Philippine shares were also aided by window dressing ahead
of the Association of Southeast Asian Nations Summit scheduled
to start next week, said Joseph Roxas, President at Manila-based
Eagle Equities.
    Philippines is a week away from hosting the ASEAN Summit
starting Nov. 10, which is to be attended by top leaders from
the Southeast Asian region, and possibly, U.S President Donald
Trump, who is in the midst of a crucial tour of Asia.
 
    Indonesian shares ended 0.2 percent higher even as
data showed the country's economic growth in the third quarter
grew slightly slower than expected.
    "The domestic markets had been expecting that GDP would
remain subdued, owing to the fact that inflationary pressures
are unseen," said Taye Shim, Head of Research at Mirae Asset
Sekuritas, Indonesia.
    "We have an absence of inflationary pressure. So, we believe
that this low inflationary pressure is likely to prolong and
this has been factored in and flagged by investors," 
     Vietnam index rose 0.6 percent to its highest close
in more than nine years, with consumer stock Vietnam Dairy
Products JSC, up 1.8 percent, pushing up the index. 
    Singapore stocks were marginally lower as losses in
financials outweighed gains in industrials.
    The nation's largest lender DBS Group was the
biggest drag on the index, closing 0.8 percent lower after
reporting its lowest income in five years.
    
For Asian Companies click;  

SOUTHEAST ASIAN STOCK MARKETS
    
  Market           Current       Previous     Pct Move
                                 close        
  Singapore        3381.85       3382.31      -0.01
  Bangkok          1711.74       1701.47      0.60
  Manila           8523.07       8376.13      1.75
  Jakarta          6050.823      6039.541     0.19
  Kuala Lumpur     1742.29       1740.93      0.08
  Ho Chi Minh      849.09        843.73       0.64
                                              
  Change on year                              
  Market           Current       End prev yr  Pct Move
  Singapore        3381.85       2880.76      17.39
  Bangkok          1711.74       1542.94      10.94
  Manila           8523.07       6840.64      24.59
  Jakarta          6050.823      5296.711     14.24
  Kuala Lumpur     1742.29       1641.73      6.13
  Ho Chi Minh      849.09        664.87       27.71
 
 (Reporting by Karthika Suresh Namboothiri in Bengaluru; Editing
by Vyas Mohan)
  

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