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SE Asia Stocks-S'pore off 29-mth high; Philippines leads gainers
October 30, 2017 / 10:29 AM / 22 days ago

SE Asia Stocks-S'pore off 29-mth high; Philippines leads gainers

    By Devika Syamnath
    Oct 30 (Reuters) - Singapore stocks came off a 29-month high
to close lower on Monday as investors booked profits after three
straight sessions of gains, while the Philippines led gainers in
Southeast Asia.
    Philippine shares gained 0.8 percent on their last
trading day of the month, as real estate stocks such as SM Prime
 and SM Investments climbed 3.6 percent and 2.1
percent, respectively. 
    Thai shares closed 0.2 percent higher, reversing
losses during the session, after the finance ministry raised its
economic growth forecast for this year.
    Oil and gas company PTT Pcl rose 1.4 percent while
Kasikornbank Pcl climbed 2.4 percent.
    The Thai finance ministry now expects a 3.8 percent GDP
growth this year, compared with its previous forecast of 3.6
percent. The ministry also upgraded its estimate for export
gains to 8.5 percent this year, compared with the 4.7 percent
projected in July.
    Singapore shares shed 0.3 percent, retreating from
their highest since May 2015 hit earlier in the session.
    The index has risen 4.9 percent so far this month, its
biggest monthly gain in nine.
    United Overseas Bank Ltd fell 1.1 percent, while
the city-state's biggest lender DBS Group Holdings Ltd
dropped 0.6 percent.
    "Given that we are at the end of the month and that the STI
has had a strong run, it is not surprising to see some mild
profit-taking," said Liu Jinshu, director of research at NRA
Capital.
    Among other Southeast Asian markets, Malaysia was
marginally up, with palm oil producer Sime Darby
gaining 1.1 percent and Petronas Chemicals up 1.6
percent. 
    The Philippine market is closed on Tuesday and Wednesday on
account of public holidays.
    
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SOUTHEAST ASIAN STOCK MARKETS
  Change on day                                        
  Market           Current       Previous     Pct Move
                                 close        
  Singapore        3375.97       3386.44      -0.31
  Bangkok          1718.66       1716.03      0.15
  Manila           8365.26       8295.95      0.84
  Jakarta          5974.077      5975.281     -0.02
  Kuala Lumpur     1748.35       1746.13      0.13
 Ho Chi Minh       845.2         840.37       0.57
                                              
  Change on year                              
  Market           Current       End 2016     Pct Move
  Singapore        3375.97       2880.76      17.19
  Bangkok          1718.66       1542.94      11.39
  Manila           8365.26       6840.64      22.29
  Jakarta          5974.077      5296.711     12.79
  Kuala Lumpur     1748.35       1641.73      6.49
  Ho Chi Minh      845.2         664.87       27.12
 

 (Reporting by Devika Syamnath in Bengaluru; Editing by Amrutha
Gayathri)
  

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