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SE Asia Stocks-Philippines snaps 5 days of falls; Vietnam drops most in nearly 4 months
December 5, 2017 / 10:20 AM / 8 days ago

SE Asia Stocks-Philippines snaps 5 days of falls; Vietnam drops most in nearly 4 months

    By Nikhil Nainan
    Dec 5 (Reuters) - Philippine shares snapped five straight
sessions of declines on Tuesday, driven by real estate and
financial stocks, while Vietnam fell the most in nearly four
months.
    The Philippine Stock Exchange PSEI Index closed 0.8
percent higher with market heavyweights SM Prime Holdings Inc
 climbing 2.1 percent and Ayala Land gaining
1.8 percent.
    But the gains may be temporary, according to Joseph Roxas,
president at Manila-based Eagle Equities.
    "I think in the next few days, we should try to test the
lows again," he said.
    Meanwhile, data showed inflation cooled for the first time
in five months to 3.3 percent in November amid concerns of the
economy overheating.
    The central bank governor said annual inflation is on track
to meet the bank's forecast of 3.2 percent for the year.

    He had said last month that the economy was not at the risk
of overheating, and with slowing inflation, pressure may ease on
the central bank to raise interest rates next year.
    Vietnam shares dropped 1.7 percent, dragged down by
losses in Vingroup JSC and Vietnam Dairy Products JSC
. Vingroup closed 4 percent lower, while Vietnam Dairy
fell about 2 percent.
    Among other markets, Malaysia rose the most in more
than a month with a gain of 0.7 percent.
    Hong Leong Bank was the biggest boost with a jump
of 11.1 percent to a record close. 
    Singapore shares gave up early gains to close
marginally lower with City Developments shedding close
to 3 percent and CapitaLand declining 1.7 percent.
    A survey released late on Monday showed that factory
activities rose for a 13th consecutive month in November to
their highest in eight years. 
    The Thai stock market was closed for a national
holiday.
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SOUTHEAST ASIAN STOCK MARKETS: CHANGE ON THE DAY 
 Market                   Current   previous close  Pct Move
 Singapore                3438.06   3438.47         -0.01
 Manila                   8145      8084.45         0.75
 Jakarta                  6000.474  5998.195        0.04
 Kuala Lumpur             1724.84   1713.13         0.68
 Ho Chi Minh              953.3     970.02          -1.72
                                                    
 Change so far this year                            
 Market                   Current   End 2016        Pct Move
 Singapore                3438.06   2880.76         19.35
 Manila                   8145      6840.64         19.07
 Jakarta                  6000.474  5296.711        13.29
 Kuala Lumpur             1724.84   1641.73         5.06
 Ho Chi Minh              953.3     664.87          43.38
 
    
 (Reporting by Nikhil Kurian Nainan; Editing by Subhranshu Sahu)
  

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