July 24, 2018 / 5:22 AM / 2 months ago

SE Asia Stocks-Most markets rise on financials

    * Singapore rises for fifth session in six
    * Indonesia climbs for 3rd straight session

    By Syed Saif Hussain Naqvi
    July 24 (Reuters) - Most Southeast Asian stock markets rose
on Tuesday with Singapore heading for a fifth session of
gains in six, driven by financials amid talks of a central bank
policy tightening. 
    The Bank of Japan is in unusually active discussions before
this month's policy decision, with changes to its interest-rate
targets and stock-buying techniques on the table, Reuters
reported on Friday, giving rise to speculation that the central
bank may scale back its monetary stimulus more quickly than
expected.
    Global bond markets came under pressure on the talk of BOJ
tightening and the risk of a robust reading on U.S. economic
growth later in the week.    
    Financials accounted for more than half of the gains in
Singapore with index heavyweights DBS Group Holdings,
United Overseas Bank and Oversea-Chinese Banking Corp
 rising between 0.7 percent and 1.15 percent.    
    Indonesian shares climbed for a third consecutive
session, helped by commodity-driven stocks, financials and
energy plays.     
    Thai shares rose for a fifth consecutive session
with industrial and energy stocks leading the gains. Airports of
Thailand was the top boost with a gain of 1.6 percent.
    Investors are returning to the market to speculate as it is
not very expensive, said Teerada Charnyingyong, an analyst with
Phillip Capital Thailand, adding that they were discounting
previous concerns to an extent and, thereby, helping the market
trade in positive territory.
    Philippine shares edged higher, driven by
industrials. SM Investment and and SM Prime Holdings
 accounted for most of the gains, rising 0.8 percent
and 0.55 percent, respectively. 
    Malaysian shares were headed for an 11th session of
gains in 12, boosted by financials. CIMB Group Holdings BHD
 and Axiata Group BHD rose 0.7 percent and
1.1 percent, respectively, making them the top gainers on the
benchmark index.
    Vietnam shares fell fell for a second session in
three with all sectors in negative territory. Steel maker Hoa
Phat Group JSC  and realtor Vinhomes JSC were
biggest drags, down 4.5 percent and 0.9 percent respectively.  

    For Asian Companies click;  

  Market          Current      Previous    Pct Move
                               close       
  Singapore       3302.41      3293.71     0.26
  Bangkok         1681.72      1675.75     0.36
  Manila          7400.73      7376.8      0.32
  Jakarta         5933.586     5915.796    0.30
  Kuala Lumpur    1763.2       1757.96     0.30
 Ho Chi Minh      930.25       936.74      -0.69
                                           
  Change on year                           
  Market          Current      End 2017    Pct Move
  Singapore       3302.41      3402.92     -2.95
  Bangkok         1681.72      1753.71     -4.11
  Manila          7400.73      8,558.42    -13.52
  Jakarta         5933.586     6355.654    -6.64
  Kuala Lumpur    1763.2       1796.81     -1.87
  Ho Chi Minh     930.25       984.24      -5.48
 
 (Reporting by Syed Saif Hussain Naqvi in Bengaluru; Editing by
Subhranshu Sahu)
  
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