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SE Asia Stocks-Rise tracking Asia, Wall St; Philippines hits record high
October 6, 2017 / 5:11 AM / in 13 days

SE Asia Stocks-Rise tracking Asia, Wall St; Philippines hits record high

    By Sumeet Gaikwad
    Oct 6 (Reuters) - Southeast Asian markets rose on Friday
tracking broader Asia after Wall Street scaled a new peak on
optimism over U.S. tax reform plans, with Philippine shares
gaining over 1 percent to a fresh high.
    The S&P 500 posted its sixth straight record high close on
Thursday, its longest run since 1997, as investors cheered
increased prospects for a tax overhaul with Congress moving
closer to agreement on a budget resolution.
    In a procedural step forward, the Republican-controlled
House of Representatives approved a fiscal 2018 spending
blueprint to help advance an eventual tax bill.

    In Southeast Asia, Philippine shares rose as much as
1.4 percent to an all-time high, led by gains in industrials.
The index is on track for a fifth session of gains in six. 
    Index heavyweights SM Investments Corp rose 2.2
percent to an all-time high while JG Summit was up 4.8
percent. 
    "Even with foreign selling, we were able to reach new highs
in the past few weeks on the strength of local buying alone,"
said Jeffrey Lucero, an equity analyst at Manila-based RCBC
Securities. 
    The consumer price index in the Philippines rose 3.4 percent
in September, above economists' forecast of a 3.2 percent rise,
but was still within the central bank's forecast of 2.8-3.6
percent for that month.
    The Jakarta stock index rose marginally, buoyed by
material and energy stocks. 
    Cement manufacturer Semen Indonesia climbed 2.4
percent while Adaro Energy rose 2.5 percent.
    The index of the country's 45 most liquid stocks
rose 0.1 percent.
    Singapore shares were up 0.5 percent with real estate
and financial stocks leading the gains. 
    UOL Group Ltd rose nearly 4 percent to a record
high, its biggest jump in over three month, while Jardine
Matheson Holdings Ltd added 0.7 in early trade. 
    Malaysia stocks recovered from losses in the
previous session and rose marginally, helped by telecom and
industrial stocks. 
    Digi.Com and Sime Derby rose 0.8 percent
and 0.1 percent, respectively. 
    Thai equities gained 0.4 percent, and were on track
for their second straight session of gains, bolstered by energy
and consumer staple stocks.
    Thai Oil Pcl rose as much as 4.5 percent to hit a
near 10-year peak while CP All Pcl was up 1.5
percent.
    
For Asian Companies click;  

SOUTHEAST ASIAN STOCK MARKETS: CHANGE AT 0428 GMT
    
  Change on day                                        
  Market           Current       Previous     Pct Move
                                 Close        
  Singapore        3278.56       3261.84      0.51
  Bangkok          1696.97       1690.87      0.36
  Manila           8373.32       8294.01      0.96
  Jakarta          5904.084      5901.906     0.04
  Kuala Lumpur     1759.79       1759.09      0.04
  Ho Chi Minh      805.33        805.23       0.01
                                              
  Change on year                              
  Market           Current       End 2016     Pct Move
  Singapore        3278.56       2880.76      13.81
  Bangkok          1696.97       1542.94      9.98
  Manila           8373.32       6840.64      22.41
  Jakarta          5904.084      5296.711     11.47
  Kuala Lumpur     1759.79       1641.73      7.19
  Ho Chi Minh      805.33        664.87       21.13
 
    

 (Reporting by Sumeet Gaikwad; Additional reporting by Aaron
Saldanha; Editing by Vyas Mohan)
  

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