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SE Asia Stocks-Vietnam hits 9-yr high as focus returns to banks
February 15, 2017 / 10:21 AM / 7 months ago

SE Asia Stocks-Vietnam hits 9-yr high as focus returns to banks

    By Geo  Tharappel
    Feb 15 (Reuters) - Vietnam shares hit their highest since
Feb 2008 on Wednesday, led by gains in financials, while most
other Southeast Asian markets rose ahead of key U.S. economic
data that could influence Federal Reserve's rate hike decision.
    The consumer price index is expected to have risen 0.3
percent in January after a similar gain in December, while
retail sales are likely to have risen 0.1 percent in January
after advancing 0.6 percent the previous month.
    Vietnam index rose for a fourth straight session to
close 0.8 percent higher. Trading volumes were 1.5 times the
30-day average.
    "It looks like basket trading in a couple of key stocks ...
we are seeing a return to favour of some of the banks," said
Fiachra Mac Cana, head of research at Ho Chi Minh Securities.
    "We are sitting on top of a major resistance line right now
... we may see the markets consolidate at current levels," Mac
Cana added.
    Vietnam Joint Stock Commercial Bank for Industry and Trade
 added 3.5 percent to end at its highest in nearly 15
months. Vietcombank gained 0.8 percent.
    Vingroup JSC rose 4.6 percent to close at its
highest since Sept. 30, 2016. The real estate company's stock
traded heavily, clocking over four-times its 30-day average.
    Singapore rose 0.5 percent, lifted primarily by Thai
Beverage PCL, up 6.8 percent at its highest in three
months after reporting a 28 percent jump in its quarterly net
profit.
    Index heavyweight Singapore Telecommunications Ltd
rose 0.8 percent to close at its highest since Oct 2016.    
    Philippines reversed early gains and fell 0.5 percent
to its lowest in almost a month, weighed down by financial
stocks. 
    Conglomerate Ayala Corp and Bank of the Philippine
Islands closed 1.8 percent lower. In contrast,
International Container Terminal Services Inc gained
2.8 percent, recovering from the previous sessions heavy losses.
    The Indonesian stock market was closed for local
elections.
    
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SOUTHEAST ASIAN STOCK MARKETS : Change on day
  Market             Current        prev close    Pct Move
  Singapore          3088.48        3072.47       0.52
  Bangkok            1573.37        1572.24       0.07
  Manila             7174.3         7206.84       -0.45
  Kuala Lumpur       1709.79        1708.9        0.05
  Ho Chi Minh        711.57         706.26        0.75
                                                  
  Change this year                                
  Market             Current        End 2016      Pct Move
  Singapore          3088.48        2880.76       7.21
  Bangkok            1573.37        1542.94       1.97
  Manila             7174.3         6840.64       4.88
  Kuala Lumpur       1709.79        1641.73       4.15
  Ho Chi Minh        711.57         664.87        7.02
 


 (Reporting by Geo Tharappel in Bengaluru; Additional reporting
by Sandhya Sampath; Editing by Vyas Mohan)
  

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