November 8, 2018 / 10:25 AM / 7 months ago

SE Asia Stocks-Rise, Singapore leads gains

    * Indonesia extends gains to over 2-month closing high
    * Philippines recovers from 2-week low to close flat

    By Nikhil Subba
    Nov 8 (Reuters) - Southeast Asian stock markets closed
higher on Thursday, with Singapore leading the gains with a near
1 percent rise, driven by a post-election rally on Wall Street
and China's stronger-than-expected October export data.
    Wall Street rose 2 percent on Wednesday as investors
breathed a sigh of relief following the U.S. midterm elections,
betting that a divided Congress would be good news for equities.

    China reported stronger-than-expected exports for October as
shippers rushed goods to the United States, its biggest trading
partner, racing to beat higher tariffs that come into force in
January next year.
    Exports rose 15.6 percent in October from a year earlier,
China's customs data showed. 
    "Front-loading export activities should continue in November
and December. So export growth data will continue to be stronger
than in previous holiday seasons," ING wrote in a note to
    China is the biggest trade partner for most countries in 
Southeast Asia. 
    Investors also awaited the U.S. Federal Reserve's monetary
policy decision due later in the day. The Fed is not expected to
raise interest rates until its next gathering in December,
however market participants are waiting to see whether it offers
clues about possible rate increases in December and in 2019.
    Singapore shares gained 0.9 percent, buoyed by
industrial and energy stocks.
    Keppel Corp closed 1.6 percent higher, while
conglomerate Jardine Matheson Holdings rose 3.2
    Thai shares rose for a second straight session,
helped by gains in energy stocks as crude oil prices climbed.

    Index heavyweight PTT PCL gained 1 percent to a
one-week closing high, while Thai Oil rose 0.9 percent.
    Indonesian shares rose for an eighth session in a
row and posted their highest close since Aug. 31, driven by
gains in telecommunication and utility stocks.
    Tiphone Mobile Indonesia surged nearly 23 percent
to a more than three-month closing high.    
    Malaysian shares closed higher for a second
consecutive session on the back of telecom stocks.
    Telecommunications firm climbed 1.4
percent, while Maxis Bhd rose 2 percent.
    Philippine shares recovered from a two-week low to
close almost flat. Diversified conglomerate San Miguel Corp
 rose 6.4 percent, while Semirara Mining and Power Corp
 fell 3 percent.
For Asian Companies click;  

  Change on day                                    
  Market          Current      Previous    Pct Move
  Singapore       3093.24      3065.36     0.91
  Bangkok         1681.73      1675.33     0.38
  Manila          7035.71      7033.93     0.03
  Jakarta         5976.806     5939.886    0.62
  Kuala Lumpur    1721.42      1714.88     0.38
  Ho Chi Minh     926.28       922.16      0.45
  Change on year                           
  Market          Current      End 2017    Pct Move
  Singapore       3093.24      3402.92     -9.10
  Bangkok         1681.73      1753.71     -4.10
  Manila          7035.71      8558.42     -17.79
  Jakarta         5976.806     6355.654    -5.96
  Kuala Lumpur    1721.42      1796.81     -4.20
  Ho Chi Minh     926.28       984.24      -5.89
 (Reporting by Nikhil Subba; Editing by Subhranshu Sahu)
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