February 8, 2018 / 10:20 AM / 5 months ago

SE Asia Stocks-Most edge higher; Singapore snaps 4-session losing streak

    * Philippine, Vietnam slip for 3rd session in 4
    * Asian shares ex-Japan up 0.1 pct

    By Nikhil Nainan
    Feb 8 (Reuters) - Most Southeast Asian shares edged higher
on Thursday tracking broader Asia while Singapore rebounded as
lenders gained after index heavyweight DBS Group Holdings
 reported strong earnings.
    MSCI's broadest index of Asia-Pacific shares outside Japan
 was trading up 0.1 percent at 566.60 at 1009
GMT, while the S&P e-mini futures were largely flat in
late Asian trading hours.
    Singapore shares ended 1 percent higher, snapping
four sessions of losses with DBS Group Holdings surging 5.3
percent after posting a 33 percent rise in fourth-quarter
profit.
    United Overseas Bank and Oversea-Chinese Banking
Corporation rose around 1 percent each. 
    Philippine shares closed 0.3 percent lower as
investors stayed on the sidelines ahead of the outcome of a
central bank meeting. 
    "I think what also added to the movement today is that
investors were a bit cautious with the bank meeting today," said
Lexter Azurin, a senior equity analyst at AB Capital.
    After market hours on Thursday, the Bangko Sentral ng
Pilipinas kept its benchmark interest rate steady.
    In a bid to ease investor concerns that a potential U.S.
rate hike could spark capital outflows from the Philippines,
central bank Governor Nestor Espenilla said the country was well
protected and the bank was prepared to provide liquidity to the
financial system if necessary.
    Index heavyweights SM Investments Corp and Universal
Robina Corp dragged the index lower, falling 1 percent
and 2.3 percent, respectively.
    Vietnam shares closed down 1.7 percent marking their
third losing session in four. 
    Vietnam posted a trade surplus of $181 million in January,
contrary to a government estimate which predicted a $300 million
deficit, the customs department said on Thursday.
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SOUTHEAST ASIAN STOCK MARKETS
 Change on the day                            
 Market             Current   Previous close  Pct Move
 Singapore          3415.9    3383.77         0.95
 Bangkok            1786.66   1785.44         0.07
 Manila             8645.08   8667.56         -0.26
 Jakarta            6544.634  6534.869        0.15
 Kuala Lumpur       1839.44   1836.68         0.15
 Ho Chi Minh        1023.25   1040.55         -1.66
                                              
 Change on year                               
 Market             Current   End 2017        Pct Move
 Singapore          3415.9    3402.92         0.38
 Bangkok            1786.66   1753.71         1.88
 Manila             8645.08   8558.42         1.01
 Jakarta            6544.634  6355.654        2.97
 Kuala Lumpur       1839.44   1796.81         2.37
 Ho Chi Minh        1023.25   984.24          3.96
 

 (Reporting by Nikhil Kurian Nainan in Bengaluru; Editing by
Vyas Mohan)
  
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