SE Asia Stocks-Philippines falls to 2-mth low; S'pore hits 2-1/2-yr high

By Nikhil Nainan

Dec 1 (Reuters) - Philippine shares fell sharply on Friday

to their lowest close in two months, while the Singapore stock

market rose to a fresh 2-1/2-year closing high.

The Philippine index retreated 1.3 percent, posting

losses on every trading day this week and bringing the weekly

losses to 2.6 percent.

"The market is trading at quite an expensive PE multiple

compared to other Asian equities," said Manny Cruz, an analyst

with Asiasec Equities Inc in Manila.

The current forward price-to-earnings ratio for Philippine

stocks is 20.4, higher than regional peers, with Singapore and

Malaysia at about 15.6 and Indonesia at 17.3.

Financials and industrial stocks weighed on the Philippine

index, with Bank of the Philippine Islands and

JG Summit sliding over 2.5 percent each.

Meanwhile, Singapore stocks climbed 0.5 percent,

driven by financials and industrial stocks. The index gained 0.2

percent over the week.

Heavyweights United Overseas Bank Ltd and Jardine

Matheson Holdings Ltd, climbed 1.3 percent and 2.2

percent, respectively.

Vietnam shares surged 1.1 percent to a fresh 10-year

closing peak, bringing the weekly gains to 2.7 percent.

Thai shares edged up 0.1 percent, with the November

annual consumer inflation rate rising in line with expectations.

Malaysian and Indonesian markets were closed on account of

national holidays.

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SOUTHEAST ASIAN STOCK MARKETS: CHANGE ON THE DAY

Change on the day

Market Current Previous close Pct Move

Singapore 3449.54 3433.54 0.47

Bangkok 1699.65 1697.39 0.13

Manila 8144.02 8254.03 -1.33

Ho Chi Minh 960.33 949.93 1.09

Change so far this year

Market Current End 2016 Pct Move

Singapore 3449.54 2880.76 19.74

Bangkok 1699.65 1542.94 10.16

Manila 8144.02 6840.64 19.05

Ho Chi Minh 960.33 664.87 44.44

(Reporting by Nikhil Kurian Nainan; Editing by Amrutha

Gayathri)