By Susan Mathew
Dec 28 Most Southeast Asian stocks ended higher
on Wednesday, tracking overnight gains on Wall Street that rose
on strong U.S. housing and consumer data, with the Philippine
index posting its biggest single-day percentage gain in more
than two months.
Data released on Tuesday showed U.S. consumer confidence
shot to the highest in more than 15 years in December as they
saw more strength ahead in business conditions, stock prices and
the job market, while house prices continued their steady
recovery in October.
Philippine shares closed 2.8 percent higher, their
highest closing level since Dec. 16, with financials, real
estate and consumer stocks leading the gainers.
Ayala Land Inc was up 5.14 percent, while Jollibee
Foods Corp gained 3.25 percent.
Indonesia closed at its highest in nearly two weeks,
led by gains in consumer and financial stocks.
Bank Rakyat Indonesia (Persero) Tbk PT and clove
cigarette maker Hanjaya Mandala Sampoerna Tbk PT each
gained 3.4 percent.
"Given the fact that Indonesia and Philippines and most of
the commodity-related economies were heavily hurt during the
recent selloff, I think it makes sense for investors to buy back
those shares given that the fruits are hanging low now," said
Taye Shim, research head at KDB Daewoo Indonesia.
Malaysian shares rose 0.7 percent, while Thai stocks
closed 0.5 percent higher, their fourth straight session
Vietnam fell marginally, dragged down by financial
and energy shares. Vietnam's economy marked its first slowdown
in four years in 2016.
PetroVietnam Drilling & Well Service Corp fell 2.4
percent, tracking lower global oil prices.
In Asia, MSCI's broadest index of Asia-Pacific shares
outside Japan was up 0.6 percent as of 1010 GMT.
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SOUTHEAST ASIAN STOCK MARKETS : Change on day
Market Current Previous Pct Move
Singapore 2898.3 2885.76 0.43
Bangkok 1524.6 1517.08 0.50
Manila 6846.44 6658.2 2.83
Jakarta 5209.445 5102.954 2.09
Kuala Lumpur 1630.3 1619.68 0.66
Ho Chi Minh 663.5 663.86 -0.05
Change on year
Market Current End 2015 Pct Move
Singapore 2898.3 2882.73 0.54
Bangkok 1524.6 1288.02 18.37
Manila 6846.44 6952.08 -1.52
Jakarta 5209.445 4593.008 13.42
Kuala Lumpur 1630.3 1692.51 -3.68
Ho Chi Minh 663.5 579.03 14.59
(Reporting by Susan Mathew in Bengaluru; Additional reporting
by Ambar Warrick; Editing by Biju Dwarakanath)