January 16, 2018 / 10:28 AM / 10 months ago

SE Asia Stocks-Largely higher; Indonesia marks record close

    * Most rise tracking broader Asia
    * Indonesia posts record close
    * Singapore records 10-yr closing high

    By Devika Syamnath
    Jan 16 (Reuters) - Indonesian shares notched up an all-time
closing high on Tuesday and the Philippine index came off record
levels while most other Southeast Asian stock markets ended the
day on a positive note after a wary start, tracking gains across
broader Asia.
    The Indonesian index rose 0.7 percent to 6,429.692,
buoyed by telecom and consumer staples stocks. 
    Telekomunikasi Indonesia climbed 2.2 percent while
cigarette maker Gudang Garam added 2.4 percent.  
    The Philippine index edged up 0.1 percent, led by
consumer stocks and telcos, easing off an earlier peak of
8,969.18. 
    "That (record) level offers strong resistance given that the
market has been on a rally since the start of the year," said
Jeffrey Lucero, equity research analyst at RCBC Securities.
    "The 8,900 level would be hard to break this week,
particularly as investors would like to take a wait-and-see
position before upcoming corporate earnings," he added.  
    Consumer goods manufacturers Universal Robina Corp
and Jollibee Foods led the gains with the latter adding
5.2 percent to hit a record close. 
    Consumer stocks could benefit from the recent tax reform
program which can increase the disposable income of consumers,
Lucero added.
    Singapore stocks reversed earlier losses to end 0.4
percent higher at levels not see since December 2007.
    Gains in financials and industrial stocks pushed the
city-state's main index higher. 
    Oversea-Chinese Banking Corp and United Overseas
Bank marked record closing levels, having added 0.7
percent and 1 percent respectively. 
    Thailand's SET Index rose as much as 0.5 percent to
an all-time high before closing 0.05 percent higher, propped up
by real estate and consumer staples. 
    Berli Jucker and CP All rallied more
than 3.5 percent each. 
    Malaysia closed marginally higher while Vietnam
 bucked the trend to close slightly lower. 
    
    For Asian Companies click;  

SOUTHEAST ASIAN STOCK MARKETS
    
 Change on the                                     
 day                                       
  Market          Current      Previous    Pct Move
                               close       
  Singapore       3550.21      3536.41     0.39
  Bangkok         1821.83      1822.66     -0.05
  Manila          8865.13      8857.72     0.08
  Jakarta         6429.692     6382.195    0.74
  Kuala Lumpur    1826.03      1825.91     0.01
 Ho Chi Minh      1062.96      1063.47     -0.05
                                           
  Change on year                           
  Market          Current      End 2017    Pct Move
  Singapore       3550.21      3402.92     4.33
  Bangkok         1821.83      1753.71     3.88
  Manila          8865.13      8558.42     3.58
  Jakarta         6429.692     6355.654    1.16
  Kuala Lumpur    1826.03      1796.81     1.63
  Ho Chi Minh     1062.96      984.24      8.00
 
 (Reporting by Devika Syamnath; Editing by Sunil Nair)
  
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