* Philippines up for a fifth day
* Thailand top loser with 1.5 percent drop
By Aman Swami
Nov 20 (Reuters) - Singapore and Thai shares fell on
Tuesday, in line with Asian peers, after Wall Street took a hit
on Monday from a sell-off in U.S. technology shares.
U.S. stocks plunged on Monday as investors dumped internet
and other technology shares, further shaking confidence in a
group of stocks that has propelled the long bull market.
Singapore shares fell 1.2 percent, with financials
dragging down the city-state's benchmark index.
Oversea-Chinese Banking Corp shed as much as 2.5
percent, while rival United Overseas Bank Ltd slipped
1.7 percent.
Thai shares were the top losers in the region,
closing 1.5 percent lower, dragged by losses in financial and
energy sectors.
Siam Commercial Bank PCL lost 2.6 percent, while
Kasikornbank PCL dipped 2.3 percent.
Meanwhile, Philippines stocks rose 0.5 percent,
extending gains to a fifth consecutive session, driven by
industrial and real estate stocks.
Chinese President Xi Jinping is on a visit to the country,
aiming to advance strategic gains made under a Manila leadership
that has favoured Beijing in the hope of receiving billions of
dollars of loans and investment.
Investors are optimistic about the market's prospects, said
Fio Dejesus, an equity research analyst with RCBC Securities,
adding that recent losses have made Philippine stock valuations
more attractive in comparison to their regional peers.
Conglomerate SM Investments Corp gained 1.3 percent
for a third straight session, while Bank of the Philippine
Islands climbed 2 percent, hitting a two-and-half-month
closing high.
Vietnam shares edged higher, pushed up by real estate
and material stocks.
Markets in Malaysia and Indonesia were closed for holidays.
For Asian Companies click;
SOUTHEAST ASIAN STOCK MARKETS
Change on day
Market Current Previous Close Pct Move
Singapore 3026.99 3065.07 -1.24
Bangkok 1612.03 1636.48 -1.49
Manila 7302.94 7270.26 0.45
Ho Chi Minh 919.02 916.06 0.32
Change on year
Market Current End 2017 Pct Move
Singapore 3026.99 3402.92 -11.05
Bangkok 1612.03 1753.71 -8.08
Manila 7302.94 8558.42 -14.67
Ho Chi Minh 919.02 984.24 -6.63
(Reporting by Aman Swami; Editing by Sunil Nair)
