SE Asia Stocks-Most end higher; Singapore gains over 1 pct
* Indonesia up for 4th straight session
* Philippines hits over 1-month closing high
By Syed Saif Hussain Naqvi
July 25 (Reuters) - Most Southeast Asian stock markets rose
on Wednesday tracking strong broader Asia, with Singapore shares
gaining more than 1 percent led by financials.
Asian shares ex-Japan rose for a second
straight session boosted by an upbeat Wall Street overnight and
on hopes that Chinese government spending would spur growth.
Singapore shares extended their upward run into a
second session and ended 1 percent higher led by blue chips
Oversea-Chinese Banking Corp, United Overseas Bank
and DBS Group Holdings.
The Philippine index gained 0.9 percent and marked
its highest close in over a month after the International
Monetary Fund said the country is likely to sustain economic
growth at 6.7 percent this year and in 2019, pushed by strong
consumption and investment.
Financial shares accounted for more than half of the gains
on the index, with Metro Pacific Investments Corp and
BDO Unibank each rising by over 4 percent ahead of
earnings.
"Expectations for the banking sector will be stronger in the
second quarter following the recent 50 basis points rate hike of
the Philippine Central Bank," said Maybank Kim Eng analyst
Katherine Tan.
Thai shares followed suite and closed nearly 1
percent higher with all sectors ending in the positive zone.
Energy and consumer staples were the top gainers on the
benchmark, with top contributor PTT PCL rising on
higher oil prices.
Indonesian shares ended marginally higher, with
gains in energy outweighing losses in telecommunication stocks.
Astra International Tbk PT and United Tractors TBK
PT rose 3.4 percent and 5.1 percent respectively, and
were among the biggest contributors to the benchmark.
Vietnam shares fell 0.7 percent.
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SOUTHEAST ASIAN STOCK MARKETS
STOCK MARKETS
Change on the day
Market Current Previous close Pct Move
Singapore 3326.83 3292.65 1.04
Bangkok 1690.08 1674.22 0.95
Manila 7514 7447.02 0.90
Jakarta 5933.889 5931.842 0.03
Kuala Lumpur 1763.78 1762.93 0.05
Ho Chi Minh 927.58 934.08 -0.70
Change on year
Market Current End 2017 Pct Move
Singapore 3326.83 3402.92 -2.24
Bangkok 1690.08 1753.71 -3.63
Manila 7514 8,558.42 -12.20
Jakarta 5933.889 6355.654 -6.64
Kuala Lumpur 1763.78 1796.81 -1.84
Ho Chi Minh 927.58 984.24 -5.76
(Reporting by Syed Saif Hussain Naqvi in Bengaluru; Editing by
Vyas Mohan)