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SE Asia Stocks-Upbeat; Philippines scales fresh peak
October 13, 2017 / 4:19 AM / 2 months ago

SE Asia Stocks-Upbeat; Philippines scales fresh peak

    By Chandini Monnappa
    Oct 13 (Reuters) - Southeast Asian stock markets rose on
Friday, drawing confidence from upbeat global investor
sentiment, with the Philippines hitting a fresh high and
Singapore underpinned by data showing faster-than-expected
quarterly economic growth.
    China's trade data showed growth in exports and imports
accelerated in September, with imports beating expectations,
underscoring resilience in the country's economy. 
    China's foreign trade will likely grow at a double-digit
rate this year if current conditions continue, the customs
bureau said. 
    MSCI's broadest index of Asia-Pacific shares outside Japan
 was up 0.2 percent, having gained 3.6 percent so
far this month. 
    "The Chinese trade data has had a positive impact on
markets, key countries in Asia are now major trading partners
with China," said Joel Ng, an analyst with Singapore-based KGI
Securities. 
    The Philippine index, which has had a record-setting
streak this week, rose as much as 0.5 percent to an all-time
high.
    SM Prime Holdings Inc and SM Investments Corp
 hit record highs in the session, rising as much 2.1
percent and 1.3 percent, respectively.
    Singapore shares rose as much as 0.5 percent, set to
extend gains to a second straight session.
    The city-state's central bank kept its monetary policy
unchanged on Friday even as data showed that Singapore's
trade-dependent economy grew more than expected in the third
quarter.
    "The markets are looking positive because of a combination
of the better-than-expected GDP numbers and the central bank
keeping its policy unchanged," Joel Ng added.
    Keppel Corp Ltd was the biggest boost on the
index, rising as much as 3.7 percent to its highest in over
seven months.
    The Jakarta stock index rose 0.2 percent, buoyed by
financial and consumer stocks.
    Fabric manufacturer Indo Kordsa Tbk PT jumped 25
percent, while Insurance provider Asuransi Jasa Tania Tbk PT 
 surged nearly 16 percent.
    Malaysian stocks were little changed, while Thailand was
closed on Friday for a local holiday.

For Asian Companies click;  

SOUTHEAST ASIAN STOCK MARKETS: CHANGE AT 0324 GMT
  Market            Current     Previous close  Pct Move
  Singapore         3318.52     3303.09         0.47
  Manila            8443.41     8402.81         0.48
  Jakarta           5939.531    5926.204        0.22
  Kuala Lumpur      1753.44     1754            -0.03
  Ho Chi Minh       818.53      815.87          0.33
                                                
  Change on year                                
  Market            Current     End 2016        Pct Move
  Singapore         3318.52     2880.76         15.20
  Manila            8443.41     6840.64         23.4
  Jakarta           5939.531    5296.711        12.14
  Kuala Lumpur      1753.44     1641.73         6.80
  Ho Chi Minh       818.53      664.87          23.1
 


 (Reporting by Chandini Monnappa, additional reporting by
Shanima A; Editing by Amrutha Gayathri)
  

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