Reuters logo
SE Asia Stocks-Most rise; Singapore hits over one-month closing high
June 29, 2017 / 10:35 AM / 3 months ago

SE Asia Stocks-Most rise; Singapore hits over one-month closing high

    By Nicole Pinto
    June 29 (Reuters) - Most southeast Asian stock markets rose on Thursday as
higher crude prices and positive sentiment from overnight gains on Wall Street
drove up shares in the region, while Singapore closed at an over one-month high.
    U.S. banking shares rallied after the Fed approved plans from the 34 largest
lenders to use extra capital for stock buybacks, dividends and other purposes.

    Meanwhile, crude oil rose for a sixth straight session to its highest since
June 19 on a decline in U.S. output.
    "Last week, there was concern with lower-than-expected inventories and so
forth. Now that oil prices have stabilized, the market is reacting positively,"
said Victor Felix, an equity analyst with AB Capital Securities.
    Singapore shares closed 1.3 percent higher as heavyweights DBS Group
Holdings and United Overseas Bank gained 2.5 percent each. 
    Singapore's central bank said its investment gains on official foreign
reserves quadrupled to S$21.9 billion ($15.80 billion) in the last financial
year, helped by a recovery in the global financial market.
    Vietnam shares rose 0.4 percent as Joint Stock Commercial Bank for
Investment and Development of Vietnam rose 1.8 percent and Military
Commercial Joint Stock Bank gained 2.3 percent. 
    Philippine shares closed 0.9 percent lower at an over one-month low,
dragged by the real estate and telecommunications sectors.
    PLDT and Ayala Land fell 3.6 percent and 2.3 percent,
respectively. 
    "The Philippine peso is weakening against the dollar. That is also putting
pressure on equities," Felix added.
    Investors have trimmed their long positions in most Asian currencies
compared with two weeks ago, a Reuters poll showed, amid jitters that the
European Central Bank may be getting ready to reduce its aggressive monetary
stimulus.
    Indonesia's financial markets were closed on account of a national
holiday.
    
For Asian Companies click;  

SOUTHEAST ASIAN STOCK MARKETS
  Change on the                                      
 day                                       
  Market          Current      Previous    Pct Move
                               Close       
  Singapore       3258.65      3215.7      1.34
  Bangkok         1578.12      1582.63     -0.28
  Manila          7788.06      7857.18     -0.88
  Kuala Lumpur    1771.36      1771.23     0.01
  Ho Chi Minh     771.75       769.04      0.35
                                           
  Change so far                            
 this year                                 
  Market          Current      End 2016    Pct Move
  Singapore       3258.65      2880.76     13.12
  Bangkok         1578.12      1542.94     2.28
  Manila          7788.06      6840.64     13.85
  Kuala Lumpur    1771.36      1641.73     7.90
  Ho Chi Minh     771.75       664.87      16.08
 


 (Reporting by Nicole Pinto in Bengaluru; Editing by Vyas Mohan)
  

Our Standards:The Thomson Reuters Trust Principles.
0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below