December 29, 2017 / 4:17 AM / a year ago

SE Asia Stocks-Upbeat; Indonesia, Philippines hit record high

    By Chandini Monnappa
    Dec 29 (Reuters) - Most Southeast Asian stock markets rose
on the last trading day of the year on Friday, with Indonesia
scaling a new high for a third straight session and the
Philippines extending gains to hit an all-time peak.
    The Jakarta Composite Index climbed as much as 0.8
percent on continued optimism that the market was poised to
provide significant yields in 2018.
    Optimism about economic perspectives in 2018 has been 
helping markets gain over the past several days, said Manny
Cruz, an analyst with Asiasec Equities Inc in Manila.
    "The Philippines along with Indonesia and Vietnam is
expected to do well in 2018," he said.
    Financials led Friday's gains with Bank Rakyat Indonesia
 and Bank Central Asia jumping to record
    Indonesian shares have gained over 2 percent so far this
week in what could be their best week since mid-August, and are
set for their best yearly rise since 2014 with an increase of
about 20 percent so far in 2017.
    Philippine shares jumped as much as 1.2 percent and
were headed for a fifth straight session of gains after a slew
of positive economic data.
    Data on Tuesday showed that the country posted a narrower
budget deficit for November. This came after the Congress passed
a long-awaited tax reform plan, a ratings upgrade by Fitch, and
forecasts of faster economic growth by the World
    Industrials accounted for nearly half the gains with SM
Investments Corp climbing to record high and Aboitiz
Equity Ventures hitting a more than six-week high.
    Philippine shares have gained more than 2 percent so far
this week in what could be their biggest weekly rise since May.
They have risen 26 percent so far in 2017 after two straight
yearly fall.
    Thai shares rose for a fifth session in six and were
on track for a fifth straight weekly gain. 
    Financials and Industrials led the gains on Friday with Siam
Cement Pcl and Airports of Thailand rising
over 1.5 percent each.
    Thai shares have gained more than 13 percent so far this
    Vietnam shares rose on Friday, helped by financial
and consumer stocks. They have gained about 48 percent so far
this year, making them the best performer in Southeast Asia, and
set for a sixth straight yearly rise.
For Asian Companies click;  

  Market          Current      Previous    Pct Move
  Singapore       3401.99      3399.1      0.09
  Bangkok         1750.24      1743.29     0.40
  Manila          8617.66      8535.09     0.97
  Jakarta         6362.691     6314.046    0.77
  Kuala Lumpur    1779.65      1779.1      0.03
  Ho Chi Minh     980.98       976.72      0.44
  Change on year                           
  Market          Current      End 2016    Pct Move
  Singapore       3401.99      2880.76     18.09
  Bangkok         1750.24      1542.94     13.44
  Manila          8617.66      6840.64     25.98
  Jakarta         6362.691     5296.711    20.13
  Kuala Lumpur    1779.65      1641.73     8.40
  Ho Chi Minh     980.98       664.87      47.54

 (Reporting by Chandini Monnappa in Bengaluru; Editing by
Subhranshu Sahu)
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