November 23, 2018 / 10:17 AM / 9 months ago

SE Asia Stocks-Philippine, Thailand gain 1 pct; others lacklustre

    * Investors cautious, eye Trump-Xi meet next week
    * Singapore edges higher; CPI up less than expected 

    By Aman Swami
    Nov 23 (Reuters) - Philippine and Thai stocks were the top
gainers on Friday, while other markets in the region saw
lacklustre trade as investors were still unnerved by Sino-U.S.
trade concerns ahead of a meeting between leaders of the two
countries next week.
    "Global market retreat is driven by tech and export market
turbulence whereas Southeast Asia is more of a domestic-driven
economy rather than exports and tech serving economy," said Taye
Shim, head of research and strategist with Mirae Asset
    Investors are now turning their focus towards emerging
markets, he added.
    The Philippine index rose 1 percent, driven by gains
in real estate and financial stocks. It gained 3.6 percent
during the week.  
    "The region was advancing when the Philippines was left
behind but the Philippines is really coming off a low pace and
the valuations seems better, and with the macro factors at play
like inflation expected to trim down in the coming month, stocks
are rising," said Fio Dejesus, equity research analyst at RCBC
    Conglomerate Ayala Land rallied 3.8 percent, while
Bank of the Philippine Islands jumped 3.6 percent.
    Thai shares climbed 1.1 percent on gains across the
board, but were down 0.8 percent for the week.
    Index heavyweight Airports of Thailand PCL soared
2.4 percent, while gas and petroleum supplier PTT PCL
closed 1.6 percent up.
    Singapore shares edged 0.4 percent higher with
Singapore Airlines Ltd gaining 1.8 percent and lender
Oversea-Chinese Banking Corp. Ltd up 0.8 percent.
    The city-state's headline consumer price index rose less
than expected at 0.7 percent in October from a year earlier,
unchanged from September.
    Indonesian shares added 0.3 percent, extending gains
to a second straight session but shed 0.1 percent for the week.
    Consumer and material stocks boosted the index with Pikko
Land Development Tbk PT firming 16.2 percent and Astra
Agro Lestari Tbk PT jumping 3.5 percent.
    For Asian Companies click;  

 Change on day                             
 Market          Current   Previous Close  Pct Move
 Singapore       3052.49   3041.38         0.37
 Bangkok         1622.1    1604.4          1.10
 Manila          7340.18   7268.38         0.99
 Jakarta         6006.202  5990.81         0.26
 Kuala Lumpur    1695.88   1695.62         0.02
 Ho Chi Minh     917.97    924.42          -0.70
 Change on year                            
 Market          Current   End 2017        Pct Move
 Singapore       3052.49   3402.92         -10.30
 Bangkok         1622.1    1753.71         -7.50
 Manila          7340.18   8558.42         -14.23
 Jakarta         6006.202  6355.654        -5.50
 Kuala Lumpur    1695.88   1796.81         -5.62
 Ho Chi Minh     917.97    984.24          -6.73
 (Reporting by Aman Swami; Editing by Sunil Nair)
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