SE Asia Stocks-Philippine shares rally, Singapore loses ground
* Philippine shares end 2.3 percent higher
* Inflation figures from Philippines due Wednesday
* Singaporean stocks snap four sessions of gains
By Shreya Mariam Job
Dec 4 (Reuters) - Philippine shares ended higher on a day of
mixed trading across Southeast Asian markets before the release
of the country's inflation figures, while weak Singaporean
manufacturing data pulled stocks in the city-state lower on
Tuesday.
The Philippine benchmark index climbed 2.3 percent as
investors awaited the announcement of November consumer
inflation rates on Wednesday. A Reuters poll showed that
inflation was likely to soften for the first time in almost a
year.
"I believe (the rise) is largely the flow towards the
emerging markets, continuing from yesterday," said Charles
William Ang, an associate analyst with COL Financial Group.
On Monday Southeast Asian stocks surged in line with global
shares after a truce in trade relations between the United
States and China.
"However, the most probable fundamental cause (for the rise
in Philippine shares) might be that inflation is going down,"
Ang said.
The Philippines has been battling soaring consumer prices,
prompting the government to shave its yearly economic growth
target in October, and any easing in inflation rates would be a
welcome sign for the economy.
Industrial and financial shares led the Philippine rally. SM
Investments Corp and SM Prime Holdings
strengthened 3.4 percent and 2.5 percent, respectively.
Losses in technology and financial stocks pulled Singapore's
main index 0.7 percent lower — ending four days of gains — after
data showed sluggish manufacturing growth in November, the
slowest in 16 months.
Venture Corp Ltd dropped 3.4 percent, while
Yangzijiang Shipbuilding Holdings Ltd slid 4.6
percent.
Meanwhile, Vietnamese stocks jumped 0.8 percent, with
the real estate sector accounting for more than half of all
gains.
Financial and energy shares powered a 0.6 percent increase
in Indonesian stocks.
Malaysian stocks fell, shedding 0.3 percent ahead of
the release of October trade data on Wednesday.
A Reuters poll showed Malaysia's exports are expected to
rise 6.2 percent in October from a year earlier, slightly slower
than the previous month's pace.
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SOUTHEAST ASIAN STOCK MARKETS
Change on the day
Market Current Previous close Pct Move
Singapore 3167.79 3190.62 -0.72
Bangkok 1672.32 1672.61 -0.02
Manila 7703.92 7532.9 2.27
Jakarta 6152.86 6118.32 0.56
Kuala Lumpur 1694.99 1699.72 -0.28
Ho Chi Minh 958.84 951.59 0.76
Change on year
Market Current End prev yr Pct Move
Singapore 3167.79 3402.92 -6.91
Bangkok 1672.32 1753.71 -4.64
Manila 7703.92 8,558.42 -9.98
Jakarta 6152.86 6,355.65 -3.19
Kuala Lumpur 1694.99 1796.81 -5.67
Ho Chi Minh 958.84 984.24 -2.58
(Reporting by Shreya Mariam Job in Bengaluru; Editing by Sai
Sachin Ravikumar)