December 27, 2017 / 4:20 AM / 6 months ago

SE Asia Stocks-Upbeat; Indonesia hits record high

    By Chandini Monnappa
    Dec 27 (Reuters) - Southeast Asian stock markets rose on
Wednesday, in line with broader Asia on the back of a rally in
oil and metals prices, with Indonesia scaling an all-time high.
    The Jakarta SE Composite Index rose as much as 0.6
percent to 6,257.748 on the first day of trading after a
four-day holiday break.
    Financials led the rise after Japan's Mitsubishi UFJ
Financial Group (MUFG) said on Tuesday it agreed to buy
a majority stake in Bank Danamon Indonesia.

    MUFG said it agreed with Danamon shareholders to buy 73.8
percent of the bank and would like to raise that to 100 percent
as it looks to strengthen its presence in Southeast Asia's
biggest economy.
    Danamon shares rose as much as 16.7 percent to their highest
since September 2000, while Bank Central Asia Tbk PT
climbed as much as 0.9 percent to a record high.  
    Oil prices were supported around a 2-1/2-year top after an
explosion of a Libyan crude pipeline sparked supply fears while
gold and copper hovered near multi-week highs, boosting
commodity- and energy-linked shares around Asia.
    MSCI's broadest index of Asia-Pacific shares outside Japan
 edged up 0.1 percent to the highest since late
November. 
    Among other Southeast Asian stock markets, Singapore
bounced back from the previous session's drop to rise as much as
0.5 percent.
    Gains were seen across all sectors with DBS Group,
the city-state's biggest lender, climbing 0.7 percent to its
highest in over a week.
    Philippine shares were little changed after opening
stronger. The market was closed on Monday and Tuesday for local
holidays.
    Both SM Prime Holdings and BDO Unibank Inc
 climbed over 1 percent each.
    
For Asian Companies click;  

SOUTHEAST ASIAN STOCK MARKETS: Change at 0406 GMT
    
  Market                   Current      Previous Close  Pct Move
  Singapore                3389.82      3378.16         0.35
  Bangkok                  1759.49      1752.48         0.40
  Manila                   8430.51      8432.31         -0.02
  Jakarta                  6251.432     6221.013        0.49
  Kuala Lumpur             1766.67      1759.99         0.38
  Ho Chi Minh              970.03       965.93          0.42
                                                        
 Change so far this year                                
  Market                   Current      End 2016        Pct Move
  Singapore                3389.82      2880.76         17.67
  Bangkok                  1759.49      1542.94         14.03
  Manila                   8430.51      6840.64         23.24
  Jakarta                  6251.432     5296.711        18.02
  Kuala Lumpur             1766.67      1641.73         7.61
  Ho Chi Minh              970.03       664.87          45.90
 
($1 = 13,560.0000 rupiah)

 (Reporting by Reporting by Chandini Monnappa in Bengaluru;
Editing by Subhranshu Sahu)
  
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