December 28, 2017 / 9:47 AM / a year ago

SE Asia Stocks-Most gain; Philippines, Indonesia climb to record closes

    By Chandini Monnappa
    Dec 28 (Reuters) - Southeast Asian stock markets closed
firmer on Thursday as broader Asian shares scaled a decade high
on bets of a brighter outlook for the global economy and robust
commodity prices, with the Philippines and Indonesia climbing to
record finishes.
    Philippine shares gained 0.5 percent in their fourth
straight winning session as data showing a narrower budget
deficit for November added to the positive sentiment. The
passage of a long-awaited tax reform plan by the Philippine
Congress, a credit ratings upgrade by Fitch, and faster economic
growth forecast by the World Bank had brought cheer to investors
this month. 
    Financials accounted for almost half the gains on the index,
with Metropolitan Bank and Trust Co closing at its
highest in more than four years, while Ayala Land
marked a near seven-week closing peak.
    Vietnam shares rose to their highest close in more
than 10 years, firming nearly 1 percent, on gains across the
    The top robusta producer's shipment of coffee beans in
December is expected to rise from a month earlier, the Vietnam
government said on Wednesday, in line with traders' forecasts.

    Both Vinacafe Bien Hoa and Vietnam Dairy Products
JSC scaled record closes.
    Indonesian shares marked a fresh record finish,
supported mainly by financials.
    PT Bank Central Asia rose nearly 2 percent, while
PT Bank Danamon Indonesia closed 3.3 percent higher.
    Singapore and Malaysia also firmed, aided
largely by banking stocks.
    Singapore's top lender Oversea-Chinese Banking Corp
 was the best performer on the index, closing 1 percent
up at its highest in two weeks.
    Meanwhile, Thai stocks slipped 0.6 percent, snapping
four sessions of gains.
    Furniture manufacturer Rockworth Pcl tumbled over
20 percent, while construction service provider EMC Pcl
dropped more than 11 percent.
For Asian Companies click;  

 Market               Current   Previous Close  Pct Move
 Singapore            3399.1    3391.67         0.22
 Bangkok              1743.29   1752.89         -0.55
 Manila               8535.09   8490.91         0.52
 Jakarta              6314.046  6277.165        0.59
 Kuala Lumpur         1779.1    1771.76         0.41
 Ho Chi Minh          976.72    968.46          0.85
 Change on year                                 
 Market               Current   End 2016        Pct Move
 Singapore            3399.1    2880.76         17.99
 Bangkok              1743.29   1542.94         12.98
 Manila               8535.09   6840.64         24.77
 Jakarta              6314.046  5296.711        19.21
 Kuala Lumpur         1779.1    1641.73         8.37
 Ho Chi Minh          976.72    664.87          46.90

 (Reporting by Reporting by Chandini Monnappa in Bengaluru;
Editing by Amrutha Gayathri)
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