August 7, 2018 / 10:24 AM / in a year

SE Asia Stocks-Singapore jumps most in over 3-1/2 months on financials

    * Philippines declines 1.2 pct on inflation data
    * Malaysia rises to near 2-1/2-month closing high 

    By Karthika Suresh Namboothiri
    Aug 7 (Reuters) - Singapore shares jumped the most in more
than three-and-a-half months on Tuesday with financials leading
the charge, while Philippine stocks fell as data showing 
mounting inflation strengthened expectations for further policy
tightening this week.
    Singapore's FTSE Straits Times Index rose 1.7 percent
to its highest close in nearly eight weeks. Oversea-Chinese
Banking Corp climbed 4.1 percent higher, while United
Overseas Bank Ltd rose 3.3 percent.
    In the Philippines, the main stock index extended
declines into a second session and closed 1.2 percent lower. 
    "Markets are reacting to the inflation figure that came at a
new height, which basically disappointed investors and raised
concerns about an overheating economy," said Lexter Azurin, a
senior analyst at AB Capital Securities.
    Inflation quickened to 5.7 percent in July, the fastest rise
in more than five years, due to higher food and transport costs.
It was higher than the 5.5 percent median forecast in a Reuters
poll, and near the top end of the central bank's 5.1-5.8 percent
estimate for the month. 
    The central bank, which is meeting on Aug. 9, looks certain
to raise interest rates for the third time this year, after data
showed annual inflation moved further above its 2-4 percent 2018
target range.   
    SM Investments Corp dropped 2.1 percent, while BDO
Unibank closed more than 4 percent lower.
    Elsewhere in Southeast Asia, Indonesian shares edged
lower with consumer and telecom stocks leading the fall.
Unilever Indonesia was the biggest drag with a decline
of 2.6 percent.
    Malaysian shares erased early falls to rise 0.6
percent to their highest close since May 25.
    Digi.Com Bhd climbed 4.2 percent, while aluminium
producer Press Metal Bhd was up 4.3 percent.
    Energy stocks helped Thai shares close 0.7 percent
higher. PTT Public Co and PTT Exploration and
Production rose 1.5 percent and 2.2 percent
respectively, as oil prices gained.

For Asian Companies click;  

 Change on the day                           
 Market             Current  Previous close  Pct Move
 Singapore          3340     3285.34         1.66
 Bangkok            1707.26  1696.24         0.65
 Manila             7725.85  7817.31         -1.17
 Jakarta            6091.25  6101.131        -0.16
 Kuala Lumpur       1791.09  1779.75         0.64
 Ho Chi Minh        956.79   960.23          -0.36
 Change on year                              
 Market             Current  End 2017        Pct Move
 Singapore          3340     3402.92         -1.85
 Bangkok            1707.26  1753.71         -2.65
 Manila             7725.85  8558.42         -9.73
 Jakarta            6091.25  6355.654        -4.16
 Kuala Lumpur       1791.09  1796.81         -0.32
 Ho Chi Minh        956.79   984.24          -2.79
 (Reporting by Karthika Suresh Namboothiri; Editing by
Subhranshu Sahu)
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