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SE Asia Stocks-Philippines up on foreign buying; Singapore hits 14-mth closing high
January 10, 2017 / 9:55 AM / a year ago

SE Asia Stocks-Philippines up on foreign buying; Singapore hits 14-mth closing high

By Anusha Ravindranath
    Jan 10 (Reuters) - Most Southeast Asian stock markets ended
higher on Tuesday, with Philippines extending its rally to a
sixth session on a spur of foreign buying, while Singapore
closed at its highest in fourteen months.     
    Data from the Philippine Stock Exchange show net foreign
buying of 1.8 billion pesos ($37 million) in the first five
trading days of 2017. From being one of the most battered
markets in the region last year, the Philippines currently leads
a rally in Southeast Asia with a near 8 percent gain so far. 
    Foreign buying has increased in the past few trading
sessions for Philippines, aiding its continuous run of gains,
said Theodore Tan of AP Securities. 
    Philippine index hit its highest in more than two
months and closed 1.2 percent higher, backed by gains in
financial and real estate companies. SM Prime Holdings 
closed up 2.3 percent , while Ayala Land added 1.3
    Singapore shares closed at its highest since November
2015, buoyed by financials and consumer stocks. Oversea-Chinese
Banking Corp Ltd closed up 1.6 percent and was among
the best performers. 
    Jakarta closed 0.12 percent lower, dragged down by
consumer and telecom stocks. The world's largest producer of
palm oil reported a fall in its annual palm oil exports.
    Thai stocks ended 0.5 percent higher as financial
and telecom shares gained, while Vietnam finished
marginally lower. 

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  STOCK MARKETS                                        
 Change on day                                         
  Market           Current       Previous     Pct Move
  Singapore        3006.02       2981.54      0.82
  Bangkok          1572.10       1564.08      0.51
  Manila           7364.34       7276.34      1.21
  Jakarta          5309.924      5316.364     -0.12
  Kuala Lumpur     1672.05       1667.9       0.25
  Ho Chi Minh      681.07        682.57       -0.22
 Change so far                                
 this year                                    
  Market           Current       End 2016     Pct Move
  Singapore        3006.02       2880.76      4.3
  Bangkok          1572.10       1542.94      1.88
  Manila           7364.34       6840.64      7.65
  Jakarta          5309.924      5296.711     0.25
  Kuala Lumpur     1672.05       1641.73      1.8
  Ho Chi Minh      681.07        664.87       2.4

 (Reporting by Anusha Ravindranath in Bengaluru; Additional
reporting by Christina Martin; Editing by Amrutha Gayathri)

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