December 4, 2018 / 4:33 AM / 6 months ago

SE Asia Stocks-Philippines jumps ahead of inflation data; Singapore down

    * Philippines hits near 3-month high
    * Singapore down after 4 days of gains

    By Shreya Mariam Job
    Dec 4 (Reuters) - Philippine stocks rose 2 percent on
Tuesday, extending sharp gains from the prior session and
hitting a near three-month high, ahead of November inflation
data, while Singapore shares fell 1 percent on
disappointing manufacturing data.
    Financials and industrials led the gains in the Philippines,
with SM Investments Corp firming 2.5 percent and SM
Prime Holdings strengthening 1.8 percent.
    Most of the gains seem to be from the continued flow of
investment into emerging markets, said Charles William Ang, an
associate analyst with COL Financial Group Inc, adding that the
market expected inflation to have eased in November which might
be the fundamental cause for the rise. 
    A Reuters poll showed consumer inflation likely eased last
month for the first time in almost a year, coming off its
highest rate in almost a decade, due to declining fuel and rice
prices and a stronger peso.
    An ease in inflation would provide respite to the
Philippines as persistent price pressures have curbed demand and
prompted the government to shave its economic growth target for
this year in October.
    Meanwhile, Singapore shares were headed for their session of
fall in five after data showed the city-state's manufacturing
growth slowed to a 16-month low in November.
    Technology and financial stocks were the top drags, with
Venture Corp Ltd declining 4.1 percent and Genting
Singapore Ltd shedding 1.9 percent.
    Among other markets in Southeast Asia, Indonesia
rose 0.4 percent, helped by financial and material stocks. Bank
Central Asia Tbk PT climbed 0.8 percent, while 
Telekomunikasi Indonesia (Persero) Tbk Perusahaan Perseroan PT
 gained 1.6 percent. 
    Malaysian stocks dropped 0.5 percent, dragged by
telecommunication services and consumer cyclical stocks, ahead
of the release of October trade data on Wednesday.
    Malaysia's exports are expected to rise 6.2 percent in
October from a year earlier, slightly slower than the previous
month's pace, a Reuters poll showed.
    For Asian Companies click;  

 Market             Current   Previous close  Pct Move
 Singapore          3161.72   3190.62         -0.91
 Bangkok            1675.72   1672.61         0.19
 Manila             7669.3    7532.9          1.81
 Jakarta            6140.307  6118.32         0.36
 Kuala Lumpur       1691.53   1699.72         -0.48
 Ho Chi Minh        954.16    951.59          0.27
 Change on year                               
 Market             Current   End prev yr     Pct Move
 Singapore          3161.72   3402.92         -7.09
 Bangkok            1675.72   1753.71         -4.45
 Manila             7669.3    8,558.42        -10.39
 Jakarta            6140.307  6,355.65        -3.39
 Kuala Lumpur       1691.53   1796.81         -5.86
 Ho Chi Minh        954.16    984.24          -3.06
 (Reporting by Shreya Mariam Job in Bengaluru; Editing by
Subhranshu Sahu)
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