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SE Asia Stocks-Singapore eases off 29-mth high, Philippines extends gains
October 30, 2017 / 4:50 AM / in 2 months

SE Asia Stocks-Singapore eases off 29-mth high, Philippines extends gains

    By Devika Syamnath
    Oct 30 (Reuters) - Singapore shares came off 29-month highs
to trade lower on Monday as investors booked profits after three
straight sessions of gains, while most other Southeast Asian
markets rose.
    Singapore's FTSE Straits Times Index hit its highest
since May 2015 before retreating, with financials and
industrials being the biggest drags.
    "Given that we are at the end of the month and that the STI
has had a strong run, it is not surprising to see some mild
profit-taking," said Liu Jinshu, director of research at NRA
Capital.
    The index has risen 4.9 percent so far this month, in what
could be its biggest monthly gain in nine.      
    "However, we may see the STI turn rangebound over the next
two weeks as traders and investors digest the third-quarter
results," said Jinshu.
    United Overseas Bank Ltd fell as much as 1.2
percent, while DBS Group Holdings Ltd declined up to 1
percent. 
    Among Southeast Asian markets that gained, Philippine shares
 climbed as much as 0.7 percent and were headed for a
second straight winning session, helped by industrials and real
estate stocks.
    The market may trade with an upward bias on Monday, taking
cues from gains in all relevant Wall Street indicators on
Friday, according to Manila-based RCBC Securities.
    Wall Street climbed on Friday as a surge in the tech sector
and a rally in Amazon shares helped push the Nasdaq to its best
day in nearly a year.
    Adding to the positive sentiment was the third-quarter GDP
data that showed the U.S. economy unexpectedly maintained a
brisk pace of growth, at a 3 percent annual rate.
    In the Philippines, SM Investments was the biggest
boost on Monday and rose as much as 2.6 percent, while property
developer SM Prime climbed up to 2.1 percent.
    The Philippine Stock Exchange PSEI Index has gained 2.1
percent so far this month, heading for a second straight monthly
gain.
    Indonesian shares rose as much as 0.6 percent,
boosted by energy and consumer staples stocks.
    Perusahaan Gas Negara (Persero) jumped nearly 12
percent to its highest since Sept. 8, while United Tractors
 rose as much as 4 percent.
    
    For Asian Companies click;  

SOUTHEAST ASIAN STOCK MARKETS AS AT 0402 GMT
    
  Market          Current      Previous    Pct Move
                               close       
  Singapore       3375.66      3386.44     -0.32
  Bangkok         1711.92      1716.03     -0.24
  Manila          8340.39      8295.95     0.54
  Jakarta         5995.859     5975.281    0.34
  Kuala Lumpur    1748.73      1746.13     0.15
 Ho Chi Minh      846.79       840.37      0.76
                                           
  Change on year                           
  Market          Current      End 2016    Pct Move
  Singapore       3375.66      2880.76     17.18
  Bangkok         1711.92      1542.94     10.95
  Manila          8340.39      6840.64     21.92
  Jakarta         5995.859     5296.711    13.20
  Kuala Lumpur    1748.73      1641.73     6.52
  Ho Chi Minh     846.79       664.87      27.36
 
 (Reporting by Devika Syamnath in Bengaluru; Additional
reporting by Ambar Warrick in Bengaluru; Editing by Subhranshu
Sahu)
  

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