June 7, 2018 / 10:13 AM / 2 months ago

SE Asia Stocks-Most rise; Philippines surges to 3-week high

    * Philippines climbs 1.5 pct; BDO Unibank jumps 5 pct 
    * Indonesia climbs to over six-week high
    * Thailand slips, snapping three-session winning run

    By Mensholong Lepcha
    June 7 (Reuters) - Most Southeast Asian stock markets ended
higher on Thursday, tracking broader Asia, with the Philippines
surging to its highest close in three weeks.
    MSCI's broadest index of Asia-Pacific shares outside Japan
 rose as much as 0.6 percent in its sixth
straight gaining session to a two-and-a-half-month high.
    Philippine shares closed 1.5 percent higher, as BDO
Unibank, the biggest Philippine bank in terms of market
capitalisation, surged 5 percent in its third consecutive
winning session.
    "Financials experienced heavy sell-off during past five
months," said Rachelle Cruz, an analyst from AP Securities in
Philippines.
    "Higher rates and elevated inflation will allow the banks to
improve in terms of their net interest margin, so its more about
an expectation of a better bottom line for the banks."
    The country's annual inflation quickened in May at the
fastest pace in at least five years, data showed on Tuesday.
 
    Malaysian shares rose 0.5 percent to their highest
close in two weeks. Financial stocks such as CIMB Group Holdings
 and Malayan Banking were the biggest boosts
on the index.
    Indonesian stocks rose 0.6 percent to their highest 
in over six weeks.
    Lender Bank Negara Indonesia rose 2.4 percent,
while cigarette manufacturer Gudang Garam climbed 2.7
percent.
    The index of Indonesia's 45 most liquid stocks
rose 0.7 percent.
    Vietnam shares gained 0.2 percent to close higher for
a sixth straight session.
    Techcombank, which made its stock market debut on
Monday, was the biggest boost on the index, gaining as much as 7
percent in the session.
    Singapore recovered after the previous day's losses,
buoyed mostly by financials and real estate shares.
    Lender United Overseas Bank rose 0.8 percent,
while property management firm Hongkong Land Holdings
rose 1.8 percent.
    Meanwhile, Thai shares slipped 0.3 percent, snapping
three straight sessions of gains.      

For Asian Companies click;  

SOUTHEAST ASIAN STOCK MARKETS
  Change on the day                                         
  Market               Current       Previous     Pct Move
                                     close        
  Singapore            3473.08       3467.81      0.15
  Bangkok              1733.05       1738.7       -0.32
  Manila               7803.31       7689.14      1.48
  Jakarta              6106.698      6069.713     0.61
  Kuala Lumpur         1785.81       1777.13      0.49
 Ho Chi Minh           1036.69       1034.5       0.21
                                                  
  Change on year                                  
  Market               Current       End 2017     Pct Move
  Singapore            3473.08       3402.92      2.06
  Bangkok              1733.05       1753.71      -1.18
  Manila               7803.31       8558.42      -8.82
  Jakarta              6106.698      6355.654     -3.92
  Kuala Lumpur         1785.81       1796.81      -0.61
  Ho Chi Minh          1036.69       984.24       5.33
 

 (Reporting by Mensholong Lepcha; Editing by Amrutha Gayathri)
  
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