November 16, 2018 / 10:05 AM / 24 days ago

SE Asia Stocks-Most rise; Philippines jumps about 2 pct after rate hike

    * Indonesia, Malaysia extend gains
    * Thailand falls for third session

    By Aman Swami
    Nov 16 (Reuters) - Most Southeast Asian stock markets rose
on Friday amid hopes of a thaw in Sino-U.S. trade relations,
with Philippine stocks adding nearly 2 percent after the central
bank raised its benchmark rate for the fifth time in a row.
    After market hours on Thursday, the Bangko Sentral ng
Pilipinas raised the rate on its overnight reverse repurchase
facility by 25 basis points to 4.75 percent,
lifting borrowing costs by 175 bps this year, in a bid to tackle
elevated inflation and bring it back to within its 2-4 percent
target range next year.
    "Central bank raising rates by 25 basis points, coupled with
falling crude oil prices, is a positive indicator that inflation
will slow in the coming months, helping stocks rise," said Fio
Dejesus, an equity research analyst with RCBC Securities.
    Industrials and financials helped the key stock index
close higher for a third straight session. Top conglomerate SM
Investments Corp climbed 1.1 percent, while BDO Unibank
Inc rose 5.1 percent.
    For the week, Philippine shares closed 1.6 percent higher
after a 2.4 percent drop last week.
    Indonesian shares rose about 1 percent, extending
gains into a fourth session, boosted by financial and telecom
stocks. For the week, they gained 2.4 percent.
    Bank Central Asia Tbk PT and Telekomunikasi
Indonesia (Persero) Tbk climbed 2.7 percent and 3.6
percent, respectively.
    Singapore shares gained nearly 1 percent, with
conglomerates Sembcorp Industries Ltd and Jardine
Matheson Holdings Ltd rising 2.3 percent and 4.3
percent, respectively.
    Malaysian shares extended their gains into a third
session, but closed the week 0.1 percent lower.
    Sime Darby Bhd, the world's largest palm oil
planter by land size, climbed 1.7 percent, while mobile phone
operator Axiata Group Bhd rose 1.2 percent.
    Malaysia's economy grew at its slowest pace in two years in
the July-September quarter as the country grappled with weak
external demand and what the central bank called "supply shocks"
for liquefied natural gas and palm oil.
    Meanwhile, Thai shares closed marginally lower,
extending their declines into a third session. 
    Utility and real estate stocks were the top losers with
Central Pattana PCL shedding 3.2 percent and Gulf
Energy Development PCL declining 1.6 percent.
    For the week, Thai shares fell 2 percent, in their second
straight weekly drop. 
       
For Asian Companies click;  

SOUTHEAST ASIAN STOCK MARKETS
 Change on day                            
 Market          Current  Previous Close  Pct Move
 Singapore       3083.6   3054.53         0.95
 Bangkok         1635     1638.83         -0.23
 Manila          7083.34  6952.59         1.88
 Jakarta         6012.35  5955.736        0.95
 Kuala Lumpur    1706.38  1694.21         0.72
 Ho Chi Minh     898.19   897.15          0.12
                                          
 Change on year                           
 Market          Current  End 2017        Pct Move
 Singapore       3083.6   3402.92         -9.38
 Bangkok         1635     1753.71         -6.77
 Manila          7083.34  8558.42         -17.24
 Jakarta         6012.35  6355.654        -5.40
 Kuala Lumpur    1706.38  1796.81         -5.03
 Ho Chi Minh     898.19   984.24          -8.74
 
 (Reporting by Aman Swami; Editing by Subhranshu Sahu)
  
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