Reuters logo
SE Asia Stocks-Most rise; Philippines gains for sixth session in seven
October 9, 2017 / 6:12 AM / 15 days ago

SE Asia Stocks-Most rise; Philippines gains for sixth session in seven

    Oct 9 (Reuters) - Most Southeast Asian stock markets edged
higher on Monday, with the Philippines headed for a sixth
winning session in seven as expectations of a tax overhaul kept
investors upbeat.
    Philippine shares rose as much as 0.6 percent,
hovering near the record high hit in the previous session, as
heavyweights JG Summit Holdings gained 2 percent and
Ayala Land Inc climbed 1.2 percent.
    The country's Senate will discuss on Wednesday the tax
reform plan, which is crucial to President Rodrigo Duterte's
ambitious plans to foster higher, sustainable growth.  
    The tax measures, approved by the lower house of Congress in
May, seek to expand the value-added tax base, raise excise taxes
on fuel and automobiles, and slap levies on sugar-sweetened
beverages among other changes.
    Investors are also waiting for the Philippines' August trade
data due on Tuesday.
    "I think the trade data will be positive for say on a weaker
peso," said Edgar Lay, junior analyst at AB Capital Securities.
    "Our exports are increasing compared to our imports ... so
the trade deficit will narrow this month," Lay added.
    Meanwhile, broader Asian equities edged higher as the flow
of economic news remained generally supportive for global growth
with shares in China touching a 21-month peak.
    MSCI's broadest index of Asia-Pacific shares outside Japan
 edged up 0.1 percent, having rebounded by 1.7
percent last week.
    Among other Southeast Asian share markets, Thailand
was headed for its third straight session of gains, with
industrials and energy stocks accounting for more than half the
gains. 
    Among the top performers on the index, fuel retailer PTG
Energy climbed to a more than six-month high.
    Indonesian shares edged 0.3 percent higher, lifted
by the energy and financial sectors. Mining contractor United
Tractors Tbk  rose as much as 1.6 percent, leading
gains on the benchmark. The index of the country's 45 most
liquid stocks fell 0.7 percent.
    Meanwhile, Singapore stocks inched lower, weighed
down by industrials. Index heavyweight Jardine Matheson
 dropped to a near three-week low, while UOL Group
 fell as much as 1.9 percent.
    Malaysian shares were little changed, with market
heavyweight Genting Bhd down 1.7 percent.
    
For Asian Companies click;  

SOUTHEAST ASIAN STOCK MARKETS
  Change on day                                           
  Market             Current      Previous close  Pct Move
  Singapore          3287.28      3291.29         -0.12
  Bangkok            1698.68      1695.97         0.16
  Manila             8349.88      8310.88         0.47
  Jakarta            5921.48      5905.378        0.27
  Kuala Lumpur       1763.98      1764            0.00
 Ho Chi Minh         808.67       807.8           0.11
                                                  
  Change on year                                  
  Market             Current      End 2016        Pct Move
  Singapore          3287.28      2880.76         14.11
  Bangkok            1698.68      1542.94         10.09
  Manila             8349.88      6840.64         22.1
  Jakarta            5921.48      5296.711        11.80
  Kuala Lumpur       1763.98      1641.73         7.45
  Ho Chi Minh        808.67       664.87          21.6
 
 (Reporting by Shanima A; Editing by Amrutha Gayathri)
  

Our Standards:The Thomson Reuters Trust Principles.
0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below