SE Asia Stocks-Philippines up for fourth session; Indonesia slips

By Devika Syamnath

Nov 3 (Reuters) - Philippine shares rose for a fourth

session on Friday, buoyed by expectations of greater investments

into the market and prospects of better-than-expected corporate

earnings.

Japan earlier this week said it would help the Philippines

rebuild conflict-torn southern Marawi city and also invest in

other projects, including a possible 600 billion yen loan to

develop a subway in Manila.

Japanese Prime Minister Shinzo Abe made these pledges in a

joint statement with Philippine President Rodrigo Duterte

following talks in Tokyo.

"The positive outlook from the President's visit prompted

expectations of more investments to come in. Additionally,

third-quarter earnings will likely be above expectations," said

Oliver Plana, head of sales at Asiasec Equities Inc.

Index heavyweights Ayala Land and Globe Telecom

are scheduled to report earnings this month.

Industrial and real estate stocks led the gains, with SM

Investments surging to a record high.

Most other markets were range-bound as investors gave a

guarded reception to Republican plans for massive U.S. tax cuts

while welcoming the appointment of Jerome Powell as head of the

Federal Reserve.

MSCI's broadest index of Asia-Pacific shares outside Japan

inched up 0.15 percent, just shy of its highest

level since late 2007.

Vietnam gained as much as 0.6 percent, buoyed by

industrials and utilities.

Vietnamese builder FLC Faros Construction, which

hit an all-time high in the previous session, rose 7 percent.

Malaysian shares rose marginally, with lender CIMB

Group up nearly 1 percent.

The country's September exports climbed 14.8 percent from a

year earlier, slowing for the second month in a row.

Indonesia, which hit an all-time high on Thursday,

was among the biggest decliners, down as much as 0.7 percent,

dragged by financials and consumer discretionary stocks. The

index is, however, headed for its fifth weekly gain.

Top lender Bank Central Asia shed as much as 3.5

percent while Astra International fell 1.5 percent.

Singapore was also in the red, despite a rise in

factory output for the twelfth straight month in October to its

highest in nearly eight years.

The index is headed for its first weekly fall in five.

United Overseas Bank was down 0.6 percent after

reporting its third-quarter results.

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SOUTHEAST ASIAN STOCK MARKETS AS AT 0434 GMT

Change on day

Market Current Previous Pct Move

close

Singapore 3371.2 3380.5 -0.28

Bangkok 1700.71 1701.93 -0.07

Manila 8574.24 8516.02 0.68

Jakarta 5992.803 6031.107 -0.64

Kuala Lumpur 1742.26 1741.05 0.07

Ho Chi Minh 834.45 833.09 0.16

Change on year

Market Current End 2016 Pct Move

Singapore 3371.2 2880.76 17.02

Bangkok 1700.71 1542.94 10.23

Manila 8574.24 6840.64 25.34

Jakarta 5992.803 5296.711 13.14

Kuala Lumpur 1742.26 1641.73 6.12

Ho Chi Minh 834.45 664.87 25.51

(Reporting by Devika Syamnath in Bengaluru; Editing by Sunil

Nair)