January 4, 2019 / 4:26 AM / 18 days ago

SE Asia Stocks-Philippines jumps as inflation cools, Singapore offers bargains

    * Vietnamese, Thai stocks set for 4-week losing streak
    * Philippine shares set for best weekly gain in almost 2
years

    By Rashmi Ashok
    Jan 4 (Reuters) - Philippine shares surged on Friday as the
country's inflation cooled in December, while bargain-hunters
snapped up cheapened Singaporean stocks.
    While sentiment in broader Asia remained gloomy after
disappointing U.S. factory output data from and Apple Inc's
 shock forecast cut, risk appetite across Southeast Asia
was mixed.
    Slower increases in prices of food and transport drove
annual inflation in Philippines to a seven-month low in
December, helping Philippine stocks surge as much as 1.48
percent to a near-four month high.
    The index has risen 4.3 percent this week and is on course
to clock its best weekly performance in almost two years.
Industrial conglomerate JG Summit led gains with a 4
percent advance.
    Following a nearly 2 percent decline in the previous two
sessions, Singapore's benchmark index bounced back with a
0.87 percent jump on Friday. Palm oil producer Golden
Agri-Resources Ltd was among the top gainers.
    "In the last six months, stocks have priced in all the
weaker data and valuations have turned cheap," said Joel Ng, an
analyst at KGI Securities in Singapore. "In terms of short term
trading there appear to be some opportunities."
    Singapore's index has lost nearly 7 percent over the last
six months.
    Meanwhile, Indonesian stocks reversed early losses
to edge higher as energy and consumer durables stocks lent
support.
    Vietnamese shares fell 0.69 percent as declines in
real-estate and financial stocks weighed. Dream House Investment
Corp was the top decliner.
    The Vietnamese index is headed for a weekly drop of about 3
percent, marking its fourth successive week in the red.
    Thai stocks are also poised for a four-week losing
streak as financials weighed on the index on Friday.    
    
For Asian Companies click:

SOUTHEAST ASIAN STOCK MARKETS at 0338 GMT    
 Change on the day                               
 Market                 Current  Previous close  Pct Move
 Singapore              3037.89  3012.88         0.83
 Bangkok                1554.47  1560.03         -0.36
 Manila                 7780.41  7680.6          1.30
 Jakarta                6241.59  6221.01         0.33
 Kuala Lumpur           1674.05  1675.83         -0.11
 Ho Chi Minh            866.67   878.22          -1.32
                                                 
 Change so far in 2019                           
 Market                 Current  End 2018        Pct Move
 Singapore              3037.89  3068.76         -1.01
 Bangkok                1554.47  1563.88         -0.60
 Manila                 7780.41  7,466.02        4.21
 Jakarta                6241.59  6,194.50        0.76
 Kuala Lumpur           1674.05  1690.58         -0.98
 Ho Chi Minh            866.67   892.54          -2.90
 
 (Reporting by Rashmi Ashok in Bengaluru; Editing by Sai Sachin
Ravikumar)
  
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