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SE Asia Stocks-Singapore marks 2-1/2-yr closing high on industrial output data
November 24, 2017 / 10:32 AM / 19 days ago

SE Asia Stocks-Singapore marks 2-1/2-yr closing high on industrial output data

    By Susan Mathew
    Nov 24 (Reuters) - Singapore shares touched a
two-and-half-year closing high on Friday, as industrial output
in October climbed for a fifteenth straight month, while
Philippine and Vietnam stocks reversed losses from earlier in
the day to end higher.
    The Singapore stock index closed up 0.6 percent, 
boosted by data showing the city-state's industrial production
rose 14.6 percent, driven by a continued surge in electronics
output. In September, output was up 14.4 percent.
    The index added 1.8 percent on week, its best week since
early October.        
     Financials and consumer stocks led the gainers, with DBS
Group Holdings up 1.5 percent and Thai Beverage
 climbing 3.2 percent.
    Most Southeast Asian stock markets lost ground in the
morning session on weak sentiment from Chinese share markets,
which fell on concerns about fresh government steps to curb
financial risk.
    Philippine shares recovered from up to 1 percent
losses earlier in the session to end 0.3 percent higher, with
Ayala Land up 3.7 percent and SM Investments Corp
 rising 1.1 percent.
    The index gained 0.7 percent on week.
    The turnaround in the Philippine index is "in anticipation
that the Senate version of the tax reform bill will be passed
tonight or within the next couple of days," said Manny Cruz, an
analyst at the Manila-based Asiasec Equities Inc. "So, that has
inspired some buying appetite in the market."
    The Philippine tax reform bill is aimed at generating
revenue to fund a multi-billion dollar infrastructure program,
critical to President Rodrigo Duterte's economic agenda. 

    Vietnam closed at a near 10-year high, posting weekly
gains of 5 percent, the best week since July 2015.
    Beer companies Saigon Beer Alcohol Beverage Corp
and Hanoi Beer Alcohol and Beverage Joint Stock company 
 gained 3.6 percent and 3.2  percent, respectively.
    Malaysian shares, however, closed at their lowest in
more than eight months.
    
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SOUTHEAST ASIAN STOCK MARKETS: CHANGE ON DAY   
 Market                   Current   Previous Close  Pct Move
 Singapore                3442.15   3423.17         0.55
 Bangkok                  1695.84   1707.38         -0.68
 Manila                   8365.11   8343.23         0.26
 Jakarta                  6067.142  6063.245        0.06
 Kuala Lumpur             1717.23   1721.27         -0.23
 Ho Chi Minh              935.57    933.7           0.20
                                                    
 Change on year                                     
 Market                   Current   End 2016        Pct Move
 Singapore                3442.15   2880.76         19.49
 Bangkok                  1695.84   1542.94         9.91
 Manila                   8365.11   6840.64         22.3
 Jakarta                  6067.142  5296.711        14.55
 Kuala Lumpur             1717.23   1641.73         4.60
 Ho Chi Minh              935.57    664.87          40.7
 
 (Reporting by Susan Mathew in Bengaluru; Editing by Biju
Dwarakanath)
  

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