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SE Asia Stocks-Most rise tracking Wall St; Philippines extends fall
October 27, 2017 / 4:43 AM / a month ago

SE Asia Stocks-Most rise tracking Wall St; Philippines extends fall

    By Devika Syamnath
    Oct 27 (Reuters) - Most Southeast Asian stock markets rose
on Friday, tracking gains on Wall Street as a round of positive
corporate earnings announcements boosted investor sentiment.
    Singapore shares rose as much as 0.6 percent on the
back of gains in financials after Oversea-Chinese Banking Corp
Ltd reported robust third-quarter results.
    The market was largely moving on global cues and
better-than-expected earnings from OCBC, according to Joel NG,
an analyst with KGI Securities in Singapore.
    OCBC shares rose about 1 percent to a record high after the
city-state's No. 2 lender posted a 12 percent increase in
quarterly net profit on Thursday.
    DBS Group Holdings, Singapore's biggest bank, and
smaller peer United Overseas Bank report results next
month.
    The FTSE Straits Times Index has risen 1 percent so far in
the week, heading for its fourth straight weekly gain.
    Among other Southeast Asian markets, Philippine shares
 extended decline into a second session on Friday,
shedding as much as 0.7 percent to their lowest since Oct.2.
    "Companies are expected to come out with their results
early, in the coming weeks. So investors might be selling to
avoid exposure," said Fio Dejesus of Manila-based RCBC
Securities.
    Industrial and real estate stocks were the biggest drag.   
Real estate conglomerate Ayala Land Inc dropped as much
as 1.9 percent, while index heavyweight SM Investments Corp
 fell 1.7 percent to its lowest in over two weeks.
    The Philippine Stock Exchange PSEI Index has declined 2.3
percent so far in the week, in what could be its second straight
weekly fall. 
    Asian shares gained on Friday as technology shares were
boosted by upbeat earnings from U.S. high-tech giants. Earnings
from Alphabet, Microsoft, and Amazon.com, the world's second,
third and fifth largest companies by market capitalisation, were
all upbeat, boosting their shares in after-hour trade.

             
For Asian Companies click;  

SOUTHEAST ASIAN STOCK MARKETS: CHANGE AS AT 0436 GMT
  Market           Current       Previous     Pct Move
                                 close        
  Singapore        3374.41       3356.25      0.54
  Bangkok          1720.8        1708.84      0.70
  Manila           8224.38       8267.92      -0.53
  Jakarta          6008.299      5995.847     0.21
  Kuala Lumpur     1748.23       1736.8       0.66
 Ho Chi Minh       831.82        830.11       0.21
                                              
  Change on year                              
  Market           Current       End prev yr  Pct Move
  Singapore        3374.41       2880.76      17.14
  Bangkok          1720.8        1542.94      11.53
  Manila           8224.38       6840.64      20.23
  Jakarta          6008.299      5296.711     13.43
  Kuala Lumpur     1748.23       1641.73      6.49
  Ho Chi Minh      831.82        664.87       25.11
 
($1 = 1.3681 Singapore dollars)

 (Reporting by Devika Syamnath; Editing by Subhranshu Sahu)
  

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