December 2, 2019 / 10:55 AM / 13 days ago

SE Asia Stocks-Philippines, Indonesia rise on gains in financial shares, Thailand falls

    * Real estate, banking stocks power Philippines
    * Lender Bank Rakyat Indonesia rise 2.9%
    * Low inflation in November hurts Thai stocks

    By Soumyajit Saha
    Dec 2 (Reuters) - Philippine and Indonesian shares rose more
than 1% each on Monday, helped by heavy buying in big-cap
stocks, while Thai stocks fell as dismal inflation figures
soured investor mood.
    Indonesian stocks rose the most in the region,
helped by gains in the financial sector. Lender Bank Rakyat
Indonesia (Persero) rose 2.9%, while Bank Central Asia
 advanced 2.3%.
    The rise was a "combination of investors bottom fishing on
attractive valuations and positive cues stemming from China,"
said Taye Shim, head of research at Mirae Asset Sekuritas.
    Big-cap stocks in the financial sectors, helped prop up
Philippine shares. Real estate developer Ayala Corp
 jumped 4.3%, while lender BDO Unibank rose
4.1%.
    There is some bargain hunting and positioning ahead of next
year due to expectations of GDP growth, while a low inflation
environment also provides room for monetary easing, said
Rachelle Cruz, analyst at AP Securities.
    The Philippine economy was likely to grow faster than
previously thought in 2020, the International Monetary Fund had
said last month, adding that there was room to strengthen
expansionary policies if any risks emerged.
    The central bank said November annual inflation would likely
be between 0.9% and 1.7%, ahead of official numbers that come
out on Thursday.
    Thai stocks fell after data showed that headline
consumer price index rose 0.21% in November from last year, but
was lower than expected.
    The headline inflation remained below the Bank of Thailand's
1%-4% target range for a sixth straight month.
    The poor inflation figures added to macroeconomic concerns
surrounding growth in the Thai economy, leading to selling in
big cap stocks, said Teerada Charnyingyong, strategist at
Phillip Securities, Thailand.
    
For Asian Companies click;  

SOUTHEAST ASIAN STOCK MARKETS
  STOCK MARKETS                                         
  Change on the                                         
 day                                           
  Market            Current       Previous     Pct Move
                                  close        
  Singapore         3187.97       3193.92      -0.19
  Bangkok           1569.53       1590.59      -1.32
  Manila            7877.19       7738.96      1.79
  Jakarta           6130.055      6011.83      1.97
  Kuala Lumpur      1570.55       1561.74      0.56
 Ho Chi Minh        959.31        970.75       -1.18
                                               
  Change so far in                             
 2019                                          
  Market            Current       End 2018     Pct Move
  Singapore         3187.97       3068.76      3.88
  Bangkok           1569.53       1563.88      0.36
  Manila            7877.19       7,466.02     5.51
  Jakarta           6130.055      6,194.50     -1.04
  Kuala Lumpur      1570.55       1690.58      -7.10
  Ho Chi Minh       959.31        892.54       7.48
 

 (Reporting by Soumyajit Saha in Bengaluru; 
Editing by Arun Koyyur)
  
0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below