December 30, 2016 / 5:25 AM / 7 months ago

CORRECTED-SE Asia Stocks-Largely up; Indonesia heads for best week since Oct 2015

3 Min Read

(Corrects table to show Philippine shares had shed 1.6 pct as
of Thursday's close)
    By Rushil Dutta
    Dec 30 (Reuters) - Most Southeast Asian stock markets rose
on Friday, with Indonesia heading for its fourth straight
session of gains, tracking regional peers which eked out small
gains after a subdued start. 
    The Jakarta Composite Index climbed half a percent
on continued optimism that the country was primed to provide
significant yields in 2017 on improved fundamentals.
    It has gained 6 percent so far this week, heading for its
best weekly rise since early October, 2015.
    While some analysts said investors hunted for bargains over
the past week amid capital outflow from emerging markets on
Donald Trump's election as the U.S. President, others pointed at
year-end window dressing at play. 
    Consumer and financial stocks led the day's gains with
automotive company Astra International adding 1.3
percent, while Bank Rakyat Indonesia and Bank Central
Asia rose 1.2 percent and 0.4 percent, respectively.
    Singapore shares bounced back from the previous
session's losses to trade 0.4 percent higher, helped by oil &
gas stocks on higher crude prices. 
     Oil-rig builders Keppel Corp and Sembcorp
Industries rose 0.5 percent and 1.4 percent,
respectively. 
    Jardine Cycle & Carriage Ltd gained 1.7 percent,
pushing both the consumer sector and the benchmark stock indexes
up.
    Thai shares were on track for their sixth straight
session of gains on upbeat investor optimism after data released
earlier this week showed the export dependent country's trade
surplus for November was three times above market expectations.
 
    Thai shares have gained 2.3 percent so far this week in what
could be their biggest weekly gain since September, and were
also on track for their best year since 2012.
    Malaysia and Vietnam shares were largely
unchanged, while the Philippine market was closed for a holiday.
 

For Asian Companies click;  

SOUTHEAST ASIAN STOCK MARKETS: AS OF 0440 GMT    
  Market          Current     Previous   Pct Move
                              Close      
  Singapore       2899.88     2889.15    0.37
  Bangkok         1544.27     1537.81    0.42
  Jakarta         5330.339    5302.566   0.52
  Kuala Lumpur    1635.91     1637.93    -0.12
  Ho Chi Minh     664.55      664.72     -0.03
                                         
  Change on year                         
  Market          Current     End 2015   Pct Move
  Singapore       2899.88     2882.73    0.59
  Bangkok         1544.27     1288.02    19.89
  Manila          6840.64*    6952.08    -1.60
  Jakarta         5330.339    4593.008   16.05
  Kuala Lumpur    1635.91     1692.51    -3.34
  Ho Chi Minh     664.55      579.03     14.77
 * Thursday's close

 (Reporting by Rushil Dutta; Editing by Subhranshu Sahu)

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