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SE Asia Stocks-Most end higher; Singapore closes at 8-wk high
October 12, 2017 / 10:39 AM / 2 months ago

SE Asia Stocks-Most end higher; Singapore closes at 8-wk high

    By Chandini Monnappa
    Oct 12 (Reuters) - Most Southeast Asian stock markets rose
on Thursday, in line with Asia, after the U.S. Federal Reserve
showed a guarded view towards inflation.
    Fed policymakers had a prolonged debate about the prospects
of a pickup in inflation and the path of future interest rate
rises if it did not, according to the minutes of the U.S.
central bank's last policy meeting released on Wednesday.
    Asia took cues from Wall Street, where major indexes rose to
yet another set of record closing highs overnight following a
report that a market-friendly candidate was being pushed as
successor to Janet Yellen at the helm of the Fed.
    Singapore shares climbed 0.7 percent to their highest
close in more than eight weeks ahead of a central bank rate
decision and third-quarter GDP data on Friday.
    "We (Singapore) are also looking forward to GDP numbers
which will pretty much be positive, leading to stronger
expectations from upcoming quarterly results," said Liu Jinshu,
director of research at NRA Capital.    
    Financials accounted for nearly half the gains with
Oversea-Chinese Banking Corp closing at its highest in
11 weeks and United Overseas Bank Ltd ending the day
0.7 percent higher.
    Philippine shares rose 0.5 percent to their highest
ever close with index heavyweights SM Investments Corp
and Ayala Corp posting record closing levels.
    "Market sentiment is pretty bullish across the region. This
is due to the global bullish sentiment and there is also some
risk on appetite," said Fio Dejesus, an equity research analyst
with RCBC Securities. 
    "There is some resistance to the once expected Fed rate hike
in December and that is reflecting on our markets," he added. 
    Indonesian shares climbed 0.7 percent with gains
across the broad.
    Bank Central Asia Tbk PT was the biggest boost,
rising more than 2 percent to a record close.
    Malaysian shares declined for a third straight
session even after data showed the country's industrial
production in August expanded at its fastest pace
since March 2015.

For Asian Companies click;  

SOUTHEAST ASIAN STOCK MARKETS: CHANGE ON DAY
  Market          Current     Previous close    Pct Move
  Singapore       3303.09     3280.28           0.70
  Bangkok         1712.48     1714.14           -0.1
  Manila          8402.81     8358.47           0.53
  Jakarta         5926.204    5882.787          0.74
  Kuala Lumpur    1754        1757.21           -0.18
  Ho Chi Minh     815.87      813.95            0.24
                                                
  Change on year                                
  Market          Current     End 2016          Pct Move
  Singapore       3303.09     2880.76           14.66
  Bangkok         1712.48     1542.94           10.99
  Manila          8402.81     6840.64           22.8
  Jakarta         5926.204    5296.711          11.88
  Kuala Lumpur    1754        1641.73           6.84
  Ho Chi Minh     815.87      664.87            22.7
 
 (Reporting by Reporting by Chandini Monnappa; Editing by
Subhranshu Sahu)
  

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