December 27, 2017 / 9:54 AM / 23 days ago

SE Asia Stocks-Rise; Indonesia hits record close

    By Chandini Monnappa
    Dec 27 (Reuters) - Southeast Asian stock markets closed
higher on Wednesday as sharp gains in oil and copper prices
lifted broader Asian shares, with Indonesia posting a record
close.
    Oil prices stayed near two-and-a-half-year highs from the
previous session as the market outlook for 2018 is relatively
tight, while London copper jumped to a near
three-and-a-half-year peak on expectations of strong demand from
China.
    Indonesian shares closed 0.9 percent higher, marking
the ninth gaining session out of ten.
    Financials accounted for more than half the gains on the
index, with lender Bank Danamon Indonesia closing
nearly 17 percent up after Japan's Mitsubishi UFJ Financial
Group (MUFG) on Tuesday said it would buy a majority
stake in Danamon.
    Lenders Bank Central Asia Tbk PT and PT Bank
Mandiri Tbk finished the session at record highs.    
    The index of the country's 45 most liquid stocks
firmed 0.9 percent.
    Singapore shares closed 0.5 percent higher, with
financials leading the gains.
    DBS Group Holdings finished 0.9 percent higher,
while Oversea-Chinese Banking Corp inched up 0.2
percent.
    Philippine shares rose 0.7 percent to close at its
highest in nearly seven weeks.
    The Philippine budget deficit narrowed in November to 8.6
billion pesos ($172.14 million) from 19.1 billion pesos a year
ago, data showed on Tuesday, after the widening in deficit in
October.
    Ayala Corp finished 1.9 percent higher, while BDO
Unibank closed 1.4 percent up.
    Vietnam stocks rose 0.3 percent to hit a more than
three-week closing high.
    Vietnam's economic growth quickened to 6.81 percent this
year from 6.21 percent in 2016, preliminary government estimates
showed.
    Shares of Joint Stock Commercial Bank for Foreign Trade
 hit a record close, while Vietnam Dairy Products
 gained 1.3 percent.
    Malaysian stocks rose 0.7 percent to close at their
highest in more than three months.
    Petronas Chemical Group was the biggest boost to
the index, gaining 2.6 percent and posting its highest close in
more than seven months. 

For Asian Companies click;  

SOUTHEAST ASIAN STOCK MARKETS
    
  Market          Current      Previous Close  Pct Move
  Singapore       3391.67      3378.16         0.40
  Bangkok         1752.89      1752.48         0.02
  Manila          8490.91      8432.31         0.69
  Jakarta         6277.165     6221.013        0.90
  Kuala Lumpur    1771.76      1759.99         0.67
  Ho Chi Minh     968.46       965.93          0.26
                                               
  Change on year                               
  Market          Current      End 2016        Pct Move
  Singapore       3391.67      2880.76         17.74
  Bangkok         1752.89      1542.94         13.61
  Manila          8490.91      6840.64         24.12
  Jakarta         6277.165     5296.711        18.51
  Kuala Lumpur    1771.76      1641.73         7.92
  Ho Chi Minh     968.46       664.87          45.66
 
    
    


 (Reporting by Reporting by Chandini Monnappa in Bengaluru;
Editing by Amrutha Gayathri)
  
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