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SE Asia Stocks-Largely down; Philippines at 5-month high
April 5, 2017 / 5:18 AM / 6 months ago

SE Asia Stocks-Largely down; Philippines at 5-month high

    By Ambar Warrick
    April 5 (Reuters) - Most Southeast Asian shares fell on
Wednesday as cautious investors kept to the sidelines ahead of a
crucial meeting on Thursday between U.S. President Donald Trump
and his Chinese counterpart Xi Jinping.
    However, Philippines bucked the trend and gained as
much as 1.9 percent to hit a 5-month high, helped by a rally in
industrials and financials.  
    "The Philippines GDP is growing at about 7 percent and there
is a lot of infrastructure spending expected over the next few
years," said Joseph Roxas, President at Manila-based Eagle
Equities.  
    "Basically, we have all the fundamentals (in place)."
    BDO Unibank gained as much as 2.7 percent, while
conglomerate SM Investments rose as much as 4.1 percent
to a record high. The stock was among the biggest gainers on the
index, pushing it up by about 26 points.
    "Wilcon Depot was listed last week after its 7
billion peso IPO which released a lot of money into the market,"
Roxas added.
    Asian markets edged higher tracking gains in Chinese shares,
though the underlying sentiment was cautious.
    Other Southeast Asian stocks were down, with Singapore
 falling as much as 0.7 percent. 
    Financials and industrials were the worst performers, with
Oversea-Chinese Banking Corporation shedding as much
as 1 percent, while ship-builder Keppel Corporation
dropped to a one-week low.
    Malaysia was down as much as 0.3 percent as
financials and consumer stocks fell. Malayan Banking
shed as much as 0.8 percent while conglomerate Genting Bhd
 lost as much as 0.9 percent. 
    Indonesia rose as much as 0.34 percent to a record
high, before paring gains to trade 0.1 percent lower. Gains in
financials and materials were offset by losses in consumer and
energy stocks.
    The index of the region's 45 most liquid stocks
touched a 6-month high. 
    MSCI's broadest index of Asia-Pacific shares outside Japan
 was flat at 0419 GMT.
    
    
         
    

    
For Asian Companies click;  

SOUTHEAST ASIAN STOCK MARKETS: Change as at 0423 GMT
    
  Market           Current       previous     Pct Move
                                 close        
  Singapore        3162.06       3179.06      -0.53
  Bangkok          1584.69       1583.82      0.05
  Manila           7577.09       7446.49      1.75
  Jakarta          5648.567      5651.823     -0.06
  Kuala Lumpur     1742.38       1747.19      -0.28
 Ho Chi Minh       723.76        724.14       -0.05
                                              
  Change so far                               
 this year                                    
  Market           Current       End 2016     Pct Move
  Singapore        3162.06       2880.76      9.76
  Bangkok          1584.69       1542.94      2.71
  Manila           7577.09       6840.64      10.77
  Jakarta          5648.567      5296.711     6.64
  Kuala Lumpur     1742.38       1641.73      6.13
 Ho Chi Minh       723.76        664.87       8.86
 


 (Reporting by Ambar Warrick; Editing by Vyas Mohan)
  

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