By Susan Mathew
Feb 22 Southeast Asian markets ended higher on
Wednesday, tracking Asian shares that rose taking cues from
upbeat factory activity in Europe and solid earnings overnight
on Wall Street.
Strong results by Wal-Mart and Home Depot
drove U.S. indexes higher on Tuesday, while euro zone business
growth hit its fastest since April 2011.
"Regional markets are just tracking the U.S. markets higher.
The U.S. markets gained half a percent on Tuesday, so it's just
tracking that," said an analyst from Singapore, who did not wish
to be named.
Singapore rose nearly 1 percent to close at its
highest in more than 18 months, led by the oil and gas and
United Overseas Bank and Keppel Corp
both climbed more than 2 percent.
Philippine shares closed up 0.3 percent, pushed
higher by a rally in Ayala Land towards close of trade.
Shares of Ayala Land rose 3.4 percent to their highest close in
nearly 4 months.
Investors are "positioning ahead of release of quarterly
earnings, which are trickling in slowly," said Jose Vistan, an
analyst at Manila-based AB Capital Securities. "If you are to
position on the market being positive you obviously want to go
with the industry leaders and Ayala Land is one of them."
Thai shares ended 0.5 percent higher, with TIPCO
Asphalt up 7 percent. Natural gas company Scan Inter
climbed 5.6 percent after it reported a 36.6 percent
jump in full-year net profit.
Indonesian shares ended the day 0.3 percent higher,
with consumer stocks Hanjaya Mandala Sampoerna adding
1.3 percent and Astra International rising 0.6
Vietnam and Malaysia eked out small gains.
Asian shares rose, with MSCI's broadest index of
Asia-Pacific shares outside Japan up 0.6 percent
as of 0950 GMT.
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SOUTHEAST ASIAN STOCK MARKETS: CHANGE ON DAY
Market Current Previous Pct Move
Singapore 3122.2 3094.19 0.91
Bangkok 1572.04 1564.42 0.49
Manila 7304.45 7282.68 0.30
Jakarta 5358.683 5340.99 0.33
Kuala Lumpur 1708.08 1706.55 0.09
Ho Chi Minh 717.24 716.55 0.10
Change on year
Market Current End 2016 Pct Move
Singapore 3122.2 2880.76 8.38
Bangkok 1572.04 1542.94 1.89
Manila 7304.45 6840.64 6.8
Jakarta 5358.683 5296.711 1.17
Kuala Lumpur 1708.08 1641.73 4.04
Ho Chi Minh 717.24 644.87 11.2
(Reporting by Susan Mathew in Bengaluru; Editing by Biju