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SE Asia Stocks-Rise tracking Asian peers, Wall Street
November 22, 2017 / 9:59 AM / 22 days ago

SE Asia Stocks-Rise tracking Asian peers, Wall Street

    By Sumeet Gaikwad
    Nov 22 (Reuters) - Southeast Asian stock markets, except
Philippines, ended higher on Wednesday, tracking gains in Asia
and U.S. indexes overnight, which hit record closing highs led
by gains in this year's top-performing technology sector. 
    Asian shares hit a more than 10-year peak
again, as strong world growth and rising corporate profits lured
hordes of investors into equities.
    On Tuesday, the S&P technology index gained 1.2
percent, helped by a nearly 1.9 percent rise in Apple Inc
. The index has risen 38.6 percent this year, by far
more than any other sector.
    "A strong Wall Street has spilled over to Asian equities,"
said Manny Cruz, an analyst at Manila-based Asiasec Equities
Inc.
    Singapore shares firmed for a fourth straight
session, with the index closing at its highest since May, 2015.
    The city-state's top lenders DBS Group Holdings
gained 1.9 percent, while OCBC rose 0.8 percent. 
    Thailand ended up 0.2 percent, led by energy stocks
and materials, with Siam Cement 1.6 percent higher.
    Thai exports rose for an eighth straight month in October,
with shipments recovering despite the baht appreciating
more than 9 percent against the dollar so far this year.

    The Philippine index fell 0.3 percent after having
gained as much as 0.7 percent earlier, dragged down by
industrial and telecom stocks.
    "We saw furious selling at the end. The Philippines market
is down mostly due to accelerated selling of BDO Unibank and SM
Investments. Funds and investors are taking profits off the two
stocks," said Fio de Jesus, an analyst at RCBC Securities. 
    Index heavyweight BDO Unibank Inc slid 3 percent,
while SM Investments Corp lost 1.5 percent.
    Shares of telecom operator PLDT Inc slipped for a
third day, their lowest in nearly two months. 
    On Monday, President Rodrigo Duterte invited China to
operate a third major telecom firm in the country, turning to a
historic rival to break a longstanding duopoly that has
frustrated consumers for years.
    Vietnam rose 1.6 percent, hovering near decade-highs,
helped by financials and consumer staples.
    
For Asian Companies click;  

SOUTHEAST ASIAN STOCK MARKETS: CHANGE ON DAY
    
 STOCK MARKETS                             
                                           
 Market          Current   Previous Close  Pct Move
 Singapore       3430.02   3423.38         0.19
 Bangkok         1713.13   1710.48         0.15
 Manila          8265.68   8289.19         -0.28
 Jakarta         6069.785  6031.862        0.63
 Kuala Lumpur    1723.54   1720.68         0.17
 Ho Chi Minh     932.66    918.3           1.56
                                           
 Change on year                            
 Market          Current   End 2016        Pct Move
 Singapore       3430.02   2880.76         19.07
 Bangkok         1713.13   1542.94         11.03
 Manila          8265.68   6840.64         20.83
 Jakarta         6069.785  5296.711        14.60
 Kuala Lumpur    1723.54   1641.73         4.98
 Ho Chi Minh     932.66    664.87          40.28
 

 (Reporting by Sumeet Gaikwad in Bengaluru; Editing by Biju
Dwarakanath)
  

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