January 3, 2017 / 10:26 AM / 7 months ago

SE Asia Stocks-Vietnam rises over 1 pct; Philippines pares losses

4 Min Read

By Susan Mathew
    Jan 3 (Reuters) - Vietnam shares rose for a third straight
session on Tuesday led by banking stocks while other markets in
the region ushered in the new year on a lacklustre note.
    Vietnam shares gained 1.1 percent with Joint Stock
Commercial Bank for Foreign Trade of Viet Nam rising
over 5 percent to its highest in two months while Vietnam Joint
Stock Commercial Bank for Industry and Trade hit its
highest level in a month, rising 7 percent.
    "I think it's the banking sector which seems to be really
what's driving the index today and I think it's a little bit of
a catch-up rally," said Fiachra Mac Cana, head of research at Ho
Chi Minh Securities.
    Sentiment was also aided by positive factory data earlier in
the day that showed new export orders jumped to their highest
since 2011. 
    Philippine shares pared losses to end the day in
positive terrain, rising 0.3 percent, on some interest from 
foreign buyers.
    "Mainly I think it is net foreign buying of almost 300
million pesos today, which is a reversal from the trend of the
past few weeks which saw significant net foreign selling," said
Victor Felix, an analyst at AB Capital Securities.
    Consumer stocks led the gains with conglomerate JG Summit
Holdings Inc and Jollibee Foods Corp climbing
over 3 percent each.
    Singapore stocks also recovered, ending the day up
0.6 percent after fourth-quarter gross domestic product beat
expectations, helped by a rebound in manufacturing. 
    Industrials and real estate stocks led the gains with
Jardine Matheson Holdings Ltd adding 3.4 percent, its
highest in over two months while Hongkong Land Holdings Ltd
 rose 2.8 percent. 
    Indonesia and Malaysia ended their first day
of trade in 2017 down 0.4 percent each, as factory activity in
both countries contracted in December. 
    Sentiment in Indonesia further soured as the finance
ministry said on Tuesday that Indonesia's budget deficit in 2016
was 2.46 percent of gross domestic product, slightly bigger than
forecast in the government's revised budget in June.
 
    Thailand was closed for a holiday.
     
For Asian Companies click;  

SOUTHEAST ASIAN STOCK MARKETS: Change on day
    
  Market            Current       Previous Close  Pct Move
  Singapore         2898.97       2880.76         0.63
  Manila            6861.31       6840.64         0.30
  Jakarta           5275.971      5296.711        -0.39
  Kuala Lumpur      1635.53       1641.73         -0.38
  Ho Chi Minh       672.01        664.87          1.07
                                                  
  Change on year                                  
  Market            Current       End 2016        Pct Move
  Singapore         2898.97       2880.76         0.63
  Manila            6861.31       6840.64         0.30
  Jakarta           5275.971      5296.711        -0.39
  Kuala Lumpur      1635.53       1641.73         -0.38
  Ho Chi Minh       672.01        664.87          1.07
 
 (Reporting by Susan Mathew in Bengaluru; Additional reporting
by Christina Martin; Editing by Sunil Nair)

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