December 1, 2017 / 5:13 AM / a year ago

SE Asia Stocks-Singapore gains; Philippines falls to 2-mth low

    By Nikhil Nainan
    Dec 1 (Reuters) - Singapore shares rose on Friday as lenders
climbed, while the Philippine market dropped to its lowest in
two months when trading resumed after a holiday.
    Philippine stocks slumped 0.7 percent and were on
track for a fourth straight session of declines and a weekly
loss of more than 2 percent.  
    "Most of the positive developments have already been
factored into the market, market is trading at quite an
expensive PE multiple compared to other Asian equities," said
Manny Cruz, an analyst with Asiasec Equities Inc in Manila. 
    The current forward price-to-earnings ratio for Philippine
stocks is 20.4, higher than regional peers, with Singapore and
Malaysia at about 15.6 and Indonesia at 17.3.
    Philippine shares are among the top gainers in Southeast
Asia so far this year, rising nearly 20 percent.
    Philippine stocks were dragged lower by blue-chips such as
Aboitiz Equity Ventures Inc and Bank of the Philippine
Islands, falling more than 2 percent each. 
    Meanwhile, Asian stocks took heart from Wall Street's
overnight performance, nudged higher by apparent progress toward
passage of the tax reform bill.
    MSCI's broadest index of Asian shares outside Japan
 inched up 0.1 percent. 
    Thai shares were 0.1 percent higher, with the country's
annual consumer inflation rate rising in November, as expected.

    Singapore stocks rose as much as 0.8 percent to a
fresh two-and-a-half-year high, lifted by financials and
industrials stocks. 
    Lenders DBS Group Holdings Ltd and United Overseas
Bank Ltd rose 1.5 percent each and were the biggest
boosts to the main board.
    Malaysian and Indonesian markets were closed on account of
national holidays.
For Asian Companies click;  

 Change at 0428 GMT                                 
 Market                   Current   Previous close  Pct Move
 Singapore                3460.38   3433.54         0.78
 Bangkok                  1699.32   1697.39         0.11
 Manila                   8199.26   8254.03         -0.66
 Ho Chi Minh              956.08    949.93          0.65
 Change so far this year                            
 Market                   Current   End 2016        Pct Move
 Singapore                3460.38   2880.76         20.12
 Bangkok                  1699.32   1542.94         10.14
 Manila                   8199.26   6840.64         19.86
 Ho Chi Minh              956.08    664.87          43.80
 (Reporting by Nikhil Kurian Nainan; Editing by Amrutha
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