February 9, 2017 / 10:23 AM / 6 months ago

SE Asia Stocks-Largely up; Singapore posts 15-mth closing high

    By Urvashi Goenka
    Feb 9 (Reuters) - Most Southeast Asian stock markets closed
higher on Thursday as investors grew more confident about China,
with Singapore bouncing back from its previous session's losses
to post its highest close in 15 months on the back of strong
corporate earnings.
    A rally in commodity prices in recent weeks led by copper
and iron ore along with gentle policy tightening by Beijing via
money market rates, had led to a more optimistic view of Chinese
corporate earnings, analysts said.
    Earnings growth for MSCI China is expected at nearly 15
percent over the next 12 months, slightly ahead of 13 percent
projected for companies in MSCI Asia outside Japan, according to
Thomson Reuters data. 
    "Developed markets are looking better, China has
stabilised," said Linus Loo, head of research at Lim & Tan
Securities.     
    Singapore shares closed at their highest level since
October 2015 with telecoms and industrials driving the gains.
    Singapore Telecommunications Ltd rose 1 percent on
the back of strong quarterly earnings.
    Singapore Technologies Engineering Ltd and
Singapore Airlines Ltd were among the biggest gainers,
rising 1 percent and 1.4 percent, respectively.
    Singapore Airlines announced a $13.8 billion order to buy 39
Boeing wide-body aircraft.  
    Philippine shares rose for the first time in three
sessions on the back of gains in financial and telecom stocks.
    After market hours, the Philippine central bank kept its
benchmark interest rate unchanged at 3 percent, with inflation
edging up but expected to remain within its comfort zone for
sometime.
    PLDT Inc rose 4.4 percent, while Ayala Corp
gained 1.2 percent.
    Indonesian shares closed slightly higher, helped by
financial stocks, while Thailand fell 0.4 percent with
financials being the biggest losers.
    Malaysia was closed for a public holiday.
For Asian Companies click;  

SOUTHEAST ASIAN STOCK MARKETS: Change on day
  Market             Current       previous      Pct Move
                                   close         
  Singapore          3079.96       3066.53       0.44
  Bangkok            1583.25       1589.29       -0.38
  Manila             7252.66       7234.82       0.25
  Jakarta            5372.077      5361.088      0.20
 Ho Chi Minh         700.65        702.04        -0.20
  Change so far                                  
 this year                                       
  Market             Current       End 2016      Pct Move
  Singapore          3079.96       2880.76       6.91
  Bangkok            1583.25       1542.94       2.61
  Manila             7252.66       6840.64       6.02
  Jakarta            5372.077      5296.711      1.42
 Ho Chi Minh         700.65        664.87        5.38
 
 (Reporting by Urvashi Goenka; Editing by Subhranshu Sahu)
  

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