By Geo Tharappel
Dec 8 Most Southeast Asian markets ended higher
on Thursday, in line with broader Asia on expectations that the
European Central Bank (ECB) would extend its asset-buying
programme, while Singapore trimmed early gains to close flat.
Later in the day, the ECB is expected to extend its
quantitative easing (QE) programme by six months while keeping
the size of its monthly asset purchases unchanged.
Sentiment was also aided by upbeat trade figures from China,
with exports and imports in November beating forecasts.
MSCI's broadest index of Asia-Pacific shares outside Japan
gained 1.4 percent to hit a one-month high.
The Philippines hit its highest closing in more than
two weeks. The bourse was pulled up by real estate stocks and
industrials, with Ayala Land Inc climbing 5 percent,
while SM Prime Holdings Inc gained 5 percent, its
highest close since Oct. 25.
"(Philippine shares) are in oversold territory and they are
also ripe for the 'Santa Claus rally'," said Mikey Macainag, an
analyst with Manila-based Sunsecurities Inc, referring to a
Property companies, which lease to outsourcing enterprises,
witnessed a drop after Donald Trump's surprise victory in the
"It's still too early to say what the Trump administration
will do about the BPO companies... the only thing they can do
about it is to increase the taxes," Macainag added.
Conglomerate JG Summit Holdings Inc jumped to a
more-than-two-week high in heavy trade.
Singapore shares eased from a one-year high to end
flat, with gains in telecoms and real estate stocks being offset
by declines in consumer discretionary and financials.
Top lender DBS Group Holdings Ltd was the biggest
drag on the index, and posted its first session of losses in
Indonesia and Malaysia closed up to post
near one-month highs.
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SOUTHEAST ASIAN STOCK MARKETS
Change on day
Market Current Prev close Pct Move
Singapore 2958.86 2959.84 -0.03
Bangkok 1525.41 1520.53 0.32
Manila 7022.38 6866.81 2.27
Jakarta 5303.734 5265.368 0.73
Kuala Lumpur 1643.75 1632.47 0.69
Ho Chi Minh 658.89 653.53 0.82
Change this year
Market Current End 2015 Pct Move
Singapore 2958.86 2882.73 2.64
Bangkok 1525.41 1288.02 18.43
Manila 7022.38 6952.08 1.01
Jakarta 5303.734 4593.008 15.47
Kuala Lumpur 1643.75 1692.51 -2.88
Ho Chi Minh 658.89 579.03 13.79
(Reporting by Geo Tharappel in Bengaluru; Editing by Sherry