January 25, 2018 / 10:19 AM / a month ago

SE Asia Stocks-Philippine index hits record close; Vietnam at over 10-yr top

    * Vietnam rises 1.6 pct after resuming trade
    * Malaysia's c.bank raises overnight policy rate

    Jan 25 (Reuters) - Philippine shares marked a record
close on Thursday on broad-based gains, while Vietnam
ended at its highest in more than ten years as trading resumed
after the exchange was shut for two days due to a technical
issue.
    Gains on the Philippine stock exchange were mainly
led by industrial stocks, with SM Investments Corp
closing at a record after declining 0.6 percent on Wednesday. 
    International Container Terminal Services Inc rose
3.1 percent, its best close since June, 2015. The stock fell 2.6
percent on Wednesday.
    "Yesterday, we had a correction and some profit-taking, so
today we are seeing stocks that declined recover what they
lost," said Jeffrey Lucero, an equity research analyst at RCBC
Securities.
    Vietnam ended 1.6 percent higher after jumping as
much as 2.7 percent intraday. 
    Financials and utility stocks led the gainers, with Joint
Stock Commercial Bank for Foreign Trade of Viet Nam
touching a record high, and oil and gas refiner Petrovietnam Gas
Joint Stock Corp hitting a more than three-year high.
    "It is hard to say whether the market would correct
immediately. The fundamentals like macroeconomics, inflows, M&A
deals, privatisations are still lending support," said Le Thu
Ha, an investment analyst with Vietcombank Securities.
    Malaysian shares were up 0.5 percent, supported by
financials, after the country's central bank raised its key
interest rate for the first time since July 2014.
    Malaysia is the first in Southeast Asia to raise its key
rate in years, and the first Asian nation to hike them in 2018.
    Malayan Banking Bhd, a holding company for the
Maybank group, finished 0.9 percent higher, while CIMB Group
Holdings Bhd rose 1 percent. 
    Singapore shed 1 percent, weighed down by financials
and industrial stocks. 
    DBS Group Holdings Ltd fell 1.5 percent, while
Jardine Matheson Holdings Ltd dropped 1.4 percent. 
    Asian stocks, meanwhile, hit a record high on Thursday
though concerns about the Trump administration's protectionist
stance tempered enthusiasm in financial markets. 
           
For Asian Companies click;  

SOUTHEAST ASIAN STOCK MARKETS
 Change on the day                            
 Market             Current   Previous close  Pct Move
 Singapore          3572.62   3609.24         -1.01
 Bangkok            1819.29   1838.96         -1.07
 Manila             8999.17   8920.23         0.88
 Jakarta            6615.328  6615.492        0.00
 Kuala Lumpur       1845.86   1837.04         0.48
 Ho Chi Minh        1104.57   1087.42         1.58
                                              
 Change on year                               
 Market             Current   End 2017        Pct Move
 Singapore          3572.62   3402.92         4.99
 Bangkok            1819.29   1753.71         3.74
 Manila             8999.17   8558.42         5.15
 Jakarta            6615.328  6355.654        4.09
 Kuala Lumpur       1845.86   1796.81         2.73
 Ho Chi Minh        1104.57   984.24          12.23
 




 (Reporting by Nicole Pinto, additional reporting by Mai Nguyen;
Editing by Biju Dwarakanath)
  
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