October 22, 2018 / 10:01 AM / 10 months ago

SE Asia Stocks-Philippines extends gains to 5th session

    * Philippines notches up 4.5 pct gain over 5 sessions
    * Malaysian stocks end lower amid caution ahead of budget

    By Rashmi Ashok
    Oct 22 (Reuters) - Philippine shares surged on Monday,
extending their gains to a fifth straight session, while most
other Southeast Asian stock markets put in lacklustre
    The Philippine index closed 1.2 percent higher,
notching up a 4.5 percent gain over the last five sessions, as
real-estate developer SM Prime Holdings gained after
reporting a jump in quarterly earnings.
   Bank stocks also boosted the Philippine market, with BDO
Unibank Inc gaining 2.6 percent and Metropolitan Bank
and Trust Co adding 4.5 percent. 
    Singapore shares edged 0.5 percent higher as consumer
goods and industrial stocks ticked up. Wine and soda distiller
Thai Beverage PCL added 3.1 percent and casino and
gaming operator Genting Singapore Ltd rose 1.6
    Indonesian shares traded nearly flat, as telecom
stocks like Telekomunikasi Indonesia Tbk rose 1.8
percent and PT Indosat Tbk added 6.0 percent to offset
losses in the banking sector. 
    Meanwhile, Malaysian stocks led losses in the
region, closing 0.6 percent lower, as telecom giant Axiata Group
Bhd shed 6 percent and Telekom Malaysia lost
4.2 percent. 
    "General sentiment in the Malaysian market is pretty
cautious awaiting the upcoming union budget," said Nik-Ihsan, a
technical analyst with Maybank Kim Eng.
    The government had recently unveiled new forecasts,
indicating wider fiscal deficits than earlier expected and an
austere 2019 budget scheduled to be presented on Nov. 2.
    Rating agencies have warned its sovereign credit ratings
could take a hit if the government cannot narrow its budget
    Vietnamese stocks closed 0.5 percent lower, led by
losses in financials. Joint Stock Commercial Bank for Foreign
Trade of Vietnam dropped 1 percent, while Vietnam
Prosperity Joint Stock Commercial Bank fell 2.7
    Prime Minister Nguyen Xuan Phuc said on Monday foreign
direct investment inflows into Vietnam this year would likely
reach a record $18 billion.
    He also said the Southeast Asian country would aim to keep
the inflation rate at 4 percent for 2019.
    However, he added there was pressure on Vietnam's inflation
rate due to higher prices for crude oil and electricity as well
as education and healthcare services. 
    Thai shares fell 0.6 percent as investor sentiment was hit
after disappointing trade data for September. Exports, the key
driver of its growth, fell 5.2 percent from a year earlier.

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 Change on the day                            
 Market             Current   Previous close  Pct Move
 Singapore          3078.06   3062.51         0.51
 Bangkok            1658.56   1667.91         -0.56
 Manila             7236.16   7151.52         1.18
 Jakarta            5840.435  5837.291        0.05
 Kuala Lumpur       1722.47   1732.14         -0.56
 Ho Chi Minh        953.51    958.36          -0.51
 Change on year                               
 Market             Current   End prev yr     Pct Move
 Singapore          3078.06   3402.92         -9.55
 Bangkok            1658.56   1753.71         -5.43
 Manila             7236.16   8,558.42        -15.45
 Jakarta            5840.435  6,355.65        -8.11
 Kuala Lumpur       1722.47   1796.81         -4.14
 Ho Chi Minh        953.51    984.24          -3.12

 (Reporting by Rashmi Ashok in Bengaluru; Editing by Amrutha
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