February 16, 2017 / 10:15 AM / in 8 months

SE Asia Stocks-Philippines gains on technical rebound; Indonesia down

    By Geo  Tharappel
    Feb 16 (Reuters) - Philippine shares on Thursday recouped
previous session's losses to end higher as industrials and
financials rallied, while Indonesia closed lower after the
much-watched first round election for Jakarta governor produced
no clear outcome.
    Unofficial sample vote counts pointed to a second round
between the incumbent Basuki Tjahaja Purnama and Anies Baswedan,
a former education minister, after neither appeared to win a
majority in Wednesday's election.
    The General Elections Commission is expected to announce
official results in around two weeks, and the earliest a second
round will be held is April.
    The Jakarta SE Composite index ended the session 0.1
percent lower, dragged down mainly by financial stocks.
    PT Bank Mandiri Tbk fell 2 percent to close at its
lowest level in nearly two weeks. The biggest Indonesian bank by
assets reported a 32 percent drop in its 2016 net profit on
Tuesday. Trading volumes were nearly thrice the 30-day average.
 
    Bank Negara Indonesia (Persero) Tbk PT fell 1.6
percent in heavy trade. 
    Philippine shares closed 1.5 percent higher. The
index had fallen significantly in the last two trading sessions.
    "We are the outlier in the region, but again it's a
technical rebound," said Victor Felix, equity analyst at AB
Capital Securities.
     "There is a lack of catalysts right now ... starting end of
this month or beginning of next month we should see a downtrend
coming up to the (U.S. Federal Reserve) meeting."
    Conglomerate SM Investments Corp gained 2.9 percent,
while JG Summit Holdings Inc rose 3.8 percent to its
highest close since Jan. 30.
    Singapore index extended gains to close 0.3 percent
higher, boosted by financials and industrials.
    Top lender DBS Group Holdings Ltd gained 1.7
percent despite posting its lowest quarterly profit in two
years. 
    Thai Beverage PCL extended gains to rise 2.1
percent to its highest close in three months.
    Vietnam stocks snapped four sessions of gains to
close 0.3 percent lower, off from the nine-year high hit earlier
in the session.
    Banks, which led the previous session's rally, were the
biggest drags on the index. Vietcombank fell 1 percent
to its lowest close in more than three weeks.   
    
For Asian Companies click;  

SOUTHEAST ASIAN STOCK MARKETS : Change on the day
  Market             Current        prev close    Pct Move
  Singapore          3096.69        3088.48       0.27
  Bangkok            1576.05        1573.37       0.17
  Manila             7283.25        7174.3        1.52
  Jakarta            5377.998       5380.67       -0.05
  Kuala Lumpur       1707.59        1709.79       -0.13
  Ho Chi Minh        709.35         711.57        -0.31
                                                  
  Change this year                                
  Market             Current        End 2016      Pct Move
  Singapore          3096.69        2880.76       7.50
  Bangkok            1576.05        1542.94       2.15
  Manila             7283.25        6840.64       6.47
  Jakarta            5377.998       5296.711      1.53
  Kuala Lumpur       1707.59        1641.73       4.01
  Ho Chi Minh        709.35         664.87        6.69
 

 (Reporting by Geo Tharappel in Bengaluru; Additional reporting
by Christina Martin)
  

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