July 25, 2018 / 10:19 AM / 25 days ago

SE Asia Stocks-Most end higher; Singapore gains over 1 pct

    * Indonesia up for 4th straight session
    * Philippines hits over 1-month closing high 

    By Syed Saif Hussain Naqvi
    July 25 (Reuters) - Most Southeast Asian stock markets rose
on Wednesday tracking strong broader Asia, with Singapore shares
 gaining more than 1 percent led by financials.
    Asian shares ex-Japan rose for a second
straight session boosted by an upbeat Wall Street overnight and
on hopes that Chinese government spending would spur growth.

    Singapore shares extended their upward run into a
second session and ended 1 percent higher led by blue chips
Oversea-Chinese Banking Corp, United Overseas Bank
 and DBS Group Holdings.
    The Philippine index gained 0.9 percent and marked
its highest close in over a month after the International
Monetary Fund said the country is likely to sustain economic
growth at 6.7 percent this year and in 2019, pushed by strong
consumption and investment.
    Financial shares accounted for more than half of the gains
on the index, with Metro Pacific Investments Corp and
BDO Unibank each rising by over 4 percent ahead of
earnings.
    "Expectations for the banking sector will be stronger in the
second quarter following the recent 50 basis points rate hike of
the Philippine Central Bank," said Maybank Kim Eng analyst
Katherine Tan.  
    Thai shares followed suite and closed nearly 1
percent higher with all sectors ending in the positive zone. 
     Energy and consumer staples were the top gainers on the
benchmark, with top contributor PTT PCL rising on
higher oil prices.
    Indonesian shares ended marginally higher, with
gains in energy outweighing losses in telecommunication stocks.
    Astra International Tbk PT and United Tractors TBK
PT rose 3.4 percent and 5.1 percent respectively, and
were among the biggest contributors to the benchmark. 
    Vietnam shares fell 0.7 percent.
    

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SOUTHEAST ASIAN STOCK MARKETS
 STOCK MARKETS                                
 Change on the day                            
 Market             Current   Previous close  Pct Move
 Singapore          3326.83   3292.65         1.04
 Bangkok            1690.08   1674.22         0.95
 Manila             7514      7447.02         0.90
 Jakarta            5933.889  5931.842        0.03
 Kuala Lumpur       1763.78   1762.93         0.05
 Ho Chi Minh        927.58    934.08          -0.70
                                              
 Change on year                               
 Market             Current   End 2017        Pct Move
 Singapore          3326.83   3402.92         -2.24
 Bangkok            1690.08   1753.71         -3.63
 Manila             7514      8,558.42        -12.20
 Jakarta            5933.889  6355.654        -6.64
 Kuala Lumpur       1763.78   1796.81         -1.84
 Ho Chi Minh        927.58    984.24          -5.76
 


 (Reporting by Syed Saif Hussain Naqvi in Bengaluru; Editing by
Vyas Mohan)
  
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