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SE Asia Stocks-Singapore gains; Philippines set to snap losing run
December 5, 2017 / 4:20 AM / 7 days ago

SE Asia Stocks-Singapore gains; Philippines set to snap losing run

    By Nikhil Nainan
    Dec 5 (Reuters) - Singapore shares edged higher on Tuesday,
led by gains in top lenders, while the Philippines rebounded, on
track to snap a five-session losing streak.
    Singapore shares climbed 0.4 percent after a survey
showed late on Monday that factory activity rose for the 13th
consecutive month in November to hit its highest level in eight
years.
    Heavyweights Oversea-Chinese Banking Corp, DBS
Group Holdings and United Overseas Bank
posted gains in the range of 1.2 percent to 1.5 percent. 
    Philippine shares inched up 0.3 percent after data
showed headline inflation slowed for the first time in five
months to 3.3 percent, in line with forecasts.

    The Philippine central bank governor said late last month
that the economy was not at risk of overheating, and with data
showing inflation slowing, this may ease pressure on the central
bank to raise interest rates next year.
    Philippine annual inflation is on track to hit the central
bank's forecast of 3.2 percent for 2017, the governor said on
Tuesday. 
    However, the gains in equities may be temporary, said Joseph
Roxas, president at Manila-based Eagle Equities. 
    "Maybe for the rest of the day, but I think in the next few
days, we should try to test the lows again," he added.
    Real estate and industrial stocks posted the biggest gains,
with Ayala Land Inc and Aboitiz Equity Ventures Inc
 adding 1.3 percent and 1.6 percent, respectively. 
    Indonesian stocks firmed 0.1 percent as financials
and consumer discretionary stocks rose.
    Astra International Tbk PT rose 2.2 percent and
Bank Central Asia Tbk PT 0.7 percent.
    Malaysian shares were flat, with Sime Darby's
 recently spun off units offsetting gains in Genting
Malaysia and Petronas Gas.
    Thai stock market was closed on account of a national
holiday.
    
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SOUTHEAST ASIAN STOCK MARKETS: CHANGE AT 0344 GMT
 Change at 0344 GMT                                 
 Market                   Current   Previous close  Pct Move
 Singapore                3452.37   3438.47         0.40
 Manila                   8109.83   8084.45         0.31
 Jakarta                  6006.656  5998.195        0.14
 Kuala Lumpur             1712.57   1713.13         -0.03
 Ho Chi Minh              966.5     970.02          -0.36
                                                    
 Change so far this year                            
 Market                   Current   End 2016        Pct Move
 Singapore                3452.37   2880.76         19.84
 Manila                   8109.83   6840.64         18.55
 Jakarta                  6006.656  5296.711        13.40
 Kuala Lumpur             1712.57   1641.73         4.31
 Ho Chi Minh              966.5     664.87          45.37
 


 (Reporting by Nikhil Kurian Nainan; Editing by Amrutha
Gayathri)
  

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