By Krishna V Kurup
Dec 27 All Southeast Asian stock markets
finished in positive territory on Tuesday, with Indonesia rising
1.5 percent after nine consecutive sessions of falls.
The dollar inched up against the yen and euro as some
investors emerged out of the holiday lull to hunt for bargains
with the market entering the last trading stretch of the year,
while oil prices were steady as OPEC and non-OPEC members are
set to start curbing output in less than a week.
Asian stocks were steady with MSCI's broadest index of
Asia-Pacific shares outside Japan marginally up
as of 0948 GMT.
Indonesian shares rose on bargain-hunting after the
Jakarta Composite Index shed over 5 percent in the previous nine
Consumer stocks led the gains. Conglomerate Astra
International Tbk PT finished 4.1 percent higher,
while cigarette maker Gudang Garam Tbk PT ended up 4.3
Some year-end window dressing are expected to support
trading this week, said brokerage Reliance Securities.
Philippine shares closed 1.4 percent higher, boosted
by industrial and real estate stocks.
Property firm SM Prime Holdings Inc rose 3.3
percent, SM Investments Corp ended 2 percent higher, and
snacks and beverage maker Universal Robina Corp jumped
The market was little affected by budget deficit data, said
Jose Alberto Santos, head of sales at Campos Lanuza & Co Inc,
adding that it was more of a correction as the local market had
devalued a lot over the last few months.
The Philippine government posted a budget deficit of 19.1
billion Philippine pesos ($384.16 million) in November, soaring
from the previous month's gap of 2.3 billion pesos.
Singapore stocks closed half a percent higher after
trading flat for most of the session. Financials led the gains
with Oversea-Chinese Banking Corp Ltd rising nearly 1
percent. Telecom giant Singapore Telecommunications Ltd
rose more than half a percent.
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SOUTHEAST ASIAN STOCK MARKETS
Change on day
Market Current Prev close Pct Move
Singapore 2885.76 2871.05 0.51
Bangkok 1517.08 1515.23 0.12
Manila 6658.2 6563.67 1.44
Jakarta 5102.954 5027.704 1.50
Kuala Lumpur 1619.68 1617.15 0.16
Ho Chi Minh 663.86 662.45 0.21
Change on year
Market Current End 2015 Pct Move
Singapore 2885.76 2882.73 0.11
Bangkok 1517.08 1288.02 17.78
Manila 6658.2 6952.08 -4.23
Jakarta 5102.954 4593.008 11.10
Kuala Lumpur 1619.68 1692.51 -4.30
Ho Chi Minh 663.86 579.03 14.65
($1 = 49.7190 Philippine pesos)
(Reporting by Krishna V Kurup in Bengaluru; Additional
reporting by Fransiska Nangoy in Jakarta and Ambar Warrick in
Bengaluru; Editing by Subhranshu Sahu)