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SE Asia Stocks-Clinton's prospects aid sentiment; Philippines down
November 7, 2016 / 5:37 AM / a year ago

SE Asia Stocks-Clinton's prospects aid sentiment; Philippines down

By Geo  Tharappel
    Nov 7 (Reuters) - Most Southeast Asian stock markets rose on
Monday, in line with broader Asia, as optimism over Democrat
Hillary Clinton grew, but investors remained on the sidelines
ahead of Tuesday's U.S. presidential election.
    The FBI said on Sunday it stood by its earlier finding that
no criminal charges were warranted against Clinton for using a
private email server for government work. 
    The latest Reuters/Ipsos poll showed Clinton with a 5
percentage point lead over Republican candidate Donald Trump
nationally, but races in some swing states shifted from favoring
Clinton to being too close to call. 
    Investors had been unnerved by signs of a tightening race
between Clinton, seen as a candidate of the status quo, and her
    "Some Asian stocks are already going higher, but I think
this is probably just a relief rally from the drop that started
a few weeks ago. For now I'm seeing low volumes," said Mikey
Macainag, an analyst with Manila-based Sunsecurities Inc.
    Markets are also bracing for a U.S. Federal Reserve rate
hike next month after a government report on Friday showed solid
jobs gains and a rise in wages in October. 
    Singapore stocks snapped three sessions of losses to
rise about 0.5 percent, led by financials and oil and gas
    Oil prices rose with traders citing opportunistic buying
following sharp declines in the previous week. 
    Lender DBS Group Holdings Ltd rose as much as 1
percent, its highest intraday percentage gain in nearly six
weeks, while Keppel Corp Ltd was also up more than 1
    Philippines fell again after snapping a nine-day
losing streak on Friday, weighed down by financials and
    "Everybody is still just trying to see what's going to
happen with the elections. Given that there's also another rate
hike coming this December... we are still in a very volatile
market. Also some of the earnings are already missing the
estimates, so that's also a big factor," Macainag said.
    Aboitiz Equity Ventures Inc fell more than 2
percent and was the biggest drag on the Philippine index.
    Indonesia, which was down in early trade, broke into
positive territory after it reported third-quarter annual
economic growth, which was largely in line with expectations.
    Thailand rose about 1 percent but volumes were
extremely thin.
    MSCI's broadest index of Asia-Pacific shares outside Japan
 was up about 0.9 pct.
For Asian Companies click;  

  Change at 0459 GMT                                       
  Market               Current       prev close   Pct Move
  Singapore            2804.43       2788.8       0.56
  Bangkok              1500.92       1485.70      1.02
  Manila               7175.45       7227.37      -0.72
  Jakarta              5369.373      5362.66      0.13
  Kuala Lumpur         1649.04       1648.24      0.05
  Ho Chi Minh          670.07        666.73       0.50
  Change on year                                  
  Market               Current       End 2015     Pct Move
  Singapore            2804.43       2882.73      -2.72
  Bangkok              1500.92       1288.02      16.53
  Manila               7175.45       6952.08      3.21
  Jakarta              5369.373      4593.008     16.90
  Kuala Lumpur         1649.04       1692.51      -2.57
  Ho Chi Minh          670.07        579.03       15.72

 (Reporting by Geo Tharappel in Bengaluru; Editing by Amrutha

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