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SE Asia Stocks-Largely range-bound; Philippines hits record
October 17, 2017 / 4:22 AM / 2 months ago

SE Asia Stocks-Largely range-bound; Philippines hits record

    By Hanna Paul
    Oct 17 (Reuters) - The Philippine stock market hit a record
high on Tuesday, surging more than 1 percent, as trading resumed
after a holiday, while most other Southeast Asian markets were
subdued.
   The Philippine stock index leapt as much as 1.4
percent, driven by heavyweights SM Investments and BDO
Unibank.
    "We're playing catch-up, most regional markets rallied
yesterday so today there's pent-up demand," said Jeff Lucero, an
analyst from RCBC Securities. 
    Cash remittances from Filipinos overseas rose 7.8 percent in
August, data from the Philippine central bank showed on Monday.
 
    Broader Asian shares held on to gains from the previous
session on optimism about upcoming earnings.
    MSCI's broadest index of Asia-Pacific shares outside Japan
 was up 0.1 percent.
    Singapore shares inched up marginally even as data
showed an unexpected dip in exports in September. 
    Non-oil domestic exports fell 1.1 percent in September from
a year earlier, compared to analysts' expectations of a 12.7
percent rise.            
    Vietnam shares also edged up, with financial stocks
dominating gains. Joint Stock Commercial Bank for Investment and
Development of Vietnam (BIDV) and Vietcom Bank
were the best performers in the benchmark.
    The Jakarta SE composite index, which fell as much
as 0.4 percent, led the losses in the region. Financial stocks
made up for most of the decline, with Bank Mandiri (Persero) Tbk
 among top decliners.
    Thai shares were also in the red, with petroleum and
gas giant PTT Public Co leading losers.

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SOUTHEAST ASIAN STOCK MARKETS: Change at 0357 GMT
  Change on the day                                   
  Market             Current      previous    Pct Move
                                  close       
  Singapore          3326.3       3323.06     0.10
  Bangkok            1722.29      1726.67     -0.25
  Manila             8551.36      8447.94     1.22
  Jakarta            5933.476     5949.701    -0.27
  Kuala Lumpur       1752.29      1754.37     -0.12
  Ho Chi Minh        822.48       819.43      0.37
                                              
  Change on year                              
  Market             Current      End 2016    Pct Move
  Singapore          3326.3       2880.76     15.47
  Bangkok            1722.29      1542.94     11.62
  Manila             8551.36      6840.64     25
  Jakarta            5933.476     5296.711    12.02
  Kuala Lumpur       1752.29      1641.73     6.73
  Ho Chi Minh        822.48       664.87      23.7
 
 (Reporting by Hanna Paul; Editing by Amrutha Gayathri)
  

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