December 22, 2017 / 4:11 AM / 3 months ago

SE Asia Stocks-Most subdued ahead of holidays; Singapore up after 6 sessions of falls

    By Nikhil Nainan
    Dec 22 (Reuters) - Singapore shares rose slightly on Friday
after six consecutive sessions of declines, while most other
Southeast Asian markets were subdued in thin trade ahead of a
long holiday weekend.
    Asian stocks edged up after Wall Street rose on economic
data pointing to steady economy growth in the United States. 
    The U.S economy grew at its fastest pace in more than two
years in the third quarter, concluding a fairly positive week
for the United States, although growth came in slightly lower
than forecasts.
    Investor sentiment has recently been upbeat following the
passage of the U.S. tax bill and as Congress averted a
government shutdown a day before federal funding was due to
    Singapore shares rose 0.3 percent, buoyed by gains in
financials, but were down 0.7 percent this week in what could be
their third weekly drop. 
    Top lenders Oversea-Chinese Banking Corp and DBS
Group Holdings gained 1.1 percent and 0.8 percent,
    Philippine shares slipped ahead of November budget
deficit data expected later in the day. 
    In October, the country had posted a budget deficit of 21.8
billion pesos ($433.87 million), much wider than the gap a year
    Losses in industrials slightly outweighed gains in
financials. Aboitiz Equity Ventures Inc and LT Group
Inc dropped 1.7 percent and 2.5 percent, respectively.
    Indonesian shares edged down after closing at a
record high on Thursday. Ratings agency Fitch upgraded the
credit ratings of Southeast Asia's largest economy on Thursday,
saying economic and monetary policies had made the economy
resilient to external shocks.
    Gains in energy and financial stocks were offset by telecom
    United Tractors Tbk PT and Bank Central Asia Tbk
PT rose 1.9 percent and 0.5 percent respectively,
while Telekomunikasi Indonesia (Persero) Tbk Perusahaan
Perseroan PT declined 0.7 percent. 
For Asian Companies click;  

 Market                   Current   Previous close  Pct Move
 Singapore                3391.71   3382.53         0.27
 Bangkok                  1738.84   1736.91         0.11
 Manila                   8371.12   8378.28         -0.09
 Jakarta                  6177.709  6183.391        -0.09
 Kuala Lumpur             1750.45   1751.21         -0.04
 Ho Chi Minh              949.68    946.06          0.38
 Change so far this year                            
 Market                   Current   End 2016        Pct Move
 Singapore                3391.71   2880.76         17.74
 Bangkok                  1738.84   1542.94         12.70
 Manila                   8371.12   6840.64         22.37
 Jakarta                  6177.709  5296.711        16.63
 Kuala Lumpur             1750.45   1641.73         6.62
 Ho Chi Minh              949.68    664.87          42.84

($1 = 50.2450 Philippine pesos)

 (Reporting by Nikhil Kurian Nainan in Bengaluru; Editing by
Subhranshu Sahu)
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