November 7, 2017 / 10:18 AM / 4 months ago

SE Asia Stocks-S'pore hits 2-yr closing high, Indonesia marks record close

    By Karthika Suresh Namboothiri
    Nov 7 (Reuters) - Singapore shares climbed nearly 1 percent
on Tuesday to their highest close in more than two years and
Indonesia marked a record close as broader Asian markets inched
up to decade highs, underpinning sentiment in Southeast Asia.
    Financials lifted Singapore shares 0.9 percent
higher, with the city-state's top lender DBS Group Holdings
 jumping 3.1 percent to hit its highest close in more
than 17 years.
    "DBS reported their results yesterday and markets are
positive because they cleaned up their loan book of
non-performing loans for oil and gas," said Joel NG, an analyst
from Singapore-based KGI Securities.
    "Markets are basically seeing this as positive that the
worst is over for their oil and gas non-performing loans." 
    MSCI's broadest index of Asia-Pacific shares outside Japan
 rose as much as 0.8 percent, hitting its highest
since November 2007.
    Indonesian index marked a record closing high,
having risen 0.2 percent, owing its gains to the consumer
staples sector, with cigarette maker PT Gudang Garam Tbk
 inching 4 percent higher.
    Vietnam shares ticked up 0.2 percent to a near
10-year closing peak, with industrial parts supplier Saigon
Machinery Spare Parts Joint Stock Co and real estate
developer Quoc Cuong Gia Lai Joint Stock Co both
climbing 7 percent.
    Meanwhile, Philippines shares reversed losses earlier
in the session to end flat as real estate giant Ayala Land
 rose 1.3 percent after reporting an 18 percent increase
in its nine-month net income, while Metropolitan Bank
surged 3.2 percent.
    The Philippines' inflation accelerated in October, data
showed earlier in the day, although the central bank said it
expected consumer price increases to remain

  Market           Current       Previous     Pct Move
  Singapore        3413.1        3381.85      0.92
  Bangkok          1712.75       1711.74      0.06
  Manila           8521.81       8523.07      -0.01
  Jakarta          6060.453      6050.823     0.16
  Kuala Lumpur     1750.94       1742.29      0.50
  Ho Chi Minh      850.33        849.09       0.15
  Change on year                              
  Market           Current       End 2016     Pct Move
  Singapore        3413.1        2880.76      18.48
  Bangkok          1712.75       1542.94      11.01
  Manila           8521.81       6840.64      24.58
  Jakarta          6060.453      5296.711     14.42
  Kuala Lumpur     1750.94       1641.73      6.65
  Ho Chi Minh      850.33        664.87       27.89

 (Reporting by Karthika Namboothiri in Bengaluru; Editing by
Amrutha Gayathri)
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