May 11, 2018 / 10:22 AM / 2 months ago

SE Asia Stocks-Rise in line with broader Asia; Philippines gains nearly 2.5 pct

    * Philippine shares post biggest weekly gain since April
2017
    * Singapore gains about 1 pct, Indonesia climbs 0.8 pct
    * Vietnam bounces back from early falls to close 1.6 pct
higher

    By Karthika Suresh Namboothiri
    May 11 (Reuters) - Southeast Asian stock markets closed
higher on Friday, in line with broader Asia, as investor risk
appetite got a boost after softer U.S. inflation data soothed
worries of faster rate hikes by the Federal Reserve.
    U.S. consumer prices rose less than expected in April,
suggesting that inflation was increasing at a moderate pace.
    
    "The rally in regional markets reflects the U.S. markets
performance last night after the inflation data eased concerns
of a possible Fed tightening moving forward," said Lexter
Azurin, a senior equity analyst at Manila-based AB Capital
Securities.
    Asia shares ex-Japan rose nearly 1 percent,
with investors also cheering U.S.-North Korean steps to further
ease tensions in the Korean Peninsula.
    In Southeast Asia, Philippine shares closed 2.4
percent higher, a day after the central bank hiked the benchmark
interest rates to 3.25 percent.
    Financials and industrials were among the top boosts with
power generator Aboitiz Equity ventures rising 6
percent and BDO Unibank ending 3.3 percent higher.
    "Most analysts were citing that recent inflation figures
have in a way signalled that the BSP (Bangko Sentral ng
Pilipinas) might be behind the curve, so it was viewed
positively by the markets today," Azurin said.
    Philippine shares gained 2.7 percent this week, the most
since April 2017.
    Indonesian stocks jumped nearly 2 percent in
intraday trading before closing 0.8 percent higher.
    Mining contractor United Tractors gained 7
percent, while Bank Negara Indonesia climbed 2.8
percent.
    Bank Indonesia said the rupiah's level was not reflecting
fundamentals and that it had ample room to adjust the rate,
giving another hint that it might raise rates to support the
currency.
    Singapore shares ended nearly 1 percent higher, with
DBS Group Holdings rising 2.2 percent and United
Overseas Bank up 2.3 percent.
    Data out on Friday showed that the city-state's retail sales
in March fell 1.5 percent from a year earlier, as sales of motor
vehicles as well as computer and telecommunications equipment
dropped. 
    Vietnam stocks erased early falls to close 1.6
percent higher, while Malaysia was closed for a public
holiday after general elections.
For Asian Companies click;  

SOUTHEAST ASIAN STOCK MARKETS
    
 Change on the day                            
 Market             Current   Previous close  Pct Move
 Singapore          3570.17   3537.59         0.92
 Bangkok            1765.93   1746.89         1.09
 Manila             7752.11   7571            2.39
 Jakarta            5956.832  5907.938        0.83
 Ho Chi Minh        1044.85   1028.87         1.55
                                              
 Change on year                               
 Market             Current   End 2017        Pct Move
 Singapore          3570.17   3402.92         4.91
 Bangkok            1765.93   1753.71         0.70
 Manila             7752.11   8558.42         -9.42
 Jakarta            5956.832  6355.654        -6.28
 Ho Chi Minh        1044.85   984.24          6.16
 

 (Reporting by Karthika Suresh Namboothiri; Additional reporting
by Devika Syamnath; Editing by Subhranshu Sahu)
  
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