By Christina Martin
May 4 Most Southeast Asian stock markets rose on
Thursday, with the Philippines posting its highest close
since September 2016, buoyed by mining stocks after the ouster
of the country's environment minister over her anti-mining
Philippine lawmakers ended a 10-month crusade by Environment
Secretary Regina Lopez on Wednesday, forcing out the eco-warrior
whose mining crackdown was backed by the president but led to
demands of her removal by miners.
Apex Mining Co Inc surged as much as 20.2 percent
to its highest in over two months, before closing 6.4 percent
higher. Philex Mining Corp closed up 0.4 percent after
rising as much as 1.3 percent.
MSCI's broadest index of Asia-Pacific shares outside Japan
slid 0.4 percent, taking cues from a subdued
session on Wall Street after the Federal Reserve's hawkish
The Fed downplayed weak first-quarter economic growth and
emphasised the strength of the labour market, a sign it was
still on track for two rate increases this year.
Singapore shares fell, dragged down by financials.
DBS Group Holdings Ltd fell 1.8 percent and
Oversea-Chinese Banking Corp Ltd dropped 0.2 percent.
Malaysian shares hit a near two-week closing low,
hit by financials.
A $1.7-billion property deal that was expected to ease the
debt burden of Malaysian state fund 1Malaysia Development Berhad
(1MDB) fell through on Wednesday, complicating Prime Minister
Najib Razak's efforts to move on from a financial scandal
surrounding the fund.
Thai shares posted their highest close since April
18, buoyed by financial and energy stocks, while Indonesia
gained 0.4 percent.
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SOUTHEAST ASIAN STOCK MARKETS: Change on day
Market Current Previous Close Pct Move
Singapore 3228.62 3237.81 -0.28
Bangkok 1573.05 1564.12 0.57
Manila 7755.75 7682.26 0.96
Jakarta 5669.443 5647.368 0.39
Kuala Lumpur 1758.67 1772.51 -0.78
Ho Chi Minh 722.02 719.54 0.34
Change on year
Market Current End 2016 Pct Move
Singapore 3228.62 2880.76 12.08
Bangkok 1573.05 1542.94 1.95
Manila 7755.75 6840.64 13.38
Jakarta 5669.443 5296.711 7.04
Kuala Lumpur 1758.67 1641.73 7.12
Ho Chi Minh 722.02 664.87 8.60
(Reporting by Christina Martin; Editing by Subhranshu Sahu)