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SE Asia Stocks-Most rise; Philippines, Indonesia hit record closes
October 3, 2017 / 10:02 AM / in 15 days

SE Asia Stocks-Most rise; Philippines, Indonesia hit record closes

    By Sumeet Gaikwad
    Oct 3 (Reuters) - Most Southeast Asian stock markets edged
higher on Tuesday drawing confidence from overnight records on
Wall Street, with the Philippine and Indonesian indexes hitting
fresh closing highs. 
    U.S. stocks started the fourth quarter on a strong note on
Monday, with all three major indexes hitting record high closes
as data pointed to underlying strength in the economy.
    A measure of U.S. manufacturing activity surged to a near
13-1/2-year high in September.
    The Philippine index gained 0.7 percent to end at an
all-time high, rising for the third consecutive session, led by
financial and industrial stocks. 
    Market heavyweight BDO Unibank Inc rose 1.7 percent
to close at a record high, while Ayala Land Inc added
0.9 percent.
    "Investors began their positioning to kick off the fourth
quarter, buying up the market once more. There was also a
spillover effect from Wall Street," said Luis Limlingan,
managing director at Manila-based Regina Capital Development
Corp. 
    The Philippine annual inflation likely quickened for a third
straight month in September on higher electricity and transport
costs but the expected outcome is still within the central
bank's comfort range, a Reuters poll showed. 
    Indonesian shares climbed 0.4 percent to close at a
record high, with consumer staples and energy stocks leading the
gains. 
    Unilever Indonesia rose 1.4 percent while mining
contractor United Tractors ended 2.8 percent firmer. 
    An index of the country's 45 most liquid stocks
gained about 0.5 percent, its highest in over three months.
    Meanwhile, Malaysian shares closed 0.3 percent
higher, snapping a 10-session losing streak. 
    Blue chip Genting Malaysia added 3.2 percent, its
biggest jump in over three months, while Petronas Gas
rose just over 1 percent.
    Thai equities rose marginally, hovering close to a
24-year high, led by energy and utilities stocks.
    Global Power Synergy Pcl rose 8.5 percent closing
at an all-time high, while PTT Pcl gained nearly 1
percent.
    Thailand's leading business groups raised economic forecasts
on Tuesday, citing stronger-than-expected exports and signs of
recovery in private consumption and investment.
    Meanwhile, Singapore shares shed 0.5 percent with
United Overseas Bank Ltd and Overseas-Chinese Banking
Corp Ltd slipping 1 percent and 0.7  percent,
respectively. Oil rig builder Keppel Corp Ltd fell 0.9
percent.
        
For Asian Companies click;  

SOUTHEAST ASIAN STOCK MARKETS
  Change on day                                        
  Market           Current       Previous     Pct Move
                                 Close        
  Singapore        3246.08       3262.1       -0.49
  Bangkok          1689.97       1688.64      0.08
  Manila           8312.93       8256.28      0.69
  Jakarta          5939.453      5914.03      0.43
  Kuala Lumpur     1759.67       1754.78      0.28
  Ho Chi Minh      798           802.23       -0.53
                                              
  Change on year                              
  Market           Current       End 2016     Pct Move
  Singapore        3246.08       2880.76      12.68
  Bangkok          1689.97       1542.94      9.53
  Manila           8312.93       6840.64      21.52
  Jakarta          5939.453      5296.711     12.13
  Kuala Lumpur     1759.67       1641.73      7.18
  Ho Chi Minh      798           664.87       20.02
 
 (Reporting by Sumeet Gaikwad; Editing by Amrutha Gayathri)
  

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