SE Asia Stocks-Philippines retreats into red from record high; Vietnam jumps

By Devika Syamnath

Nov 3 (Reuters) - Philippine shares retreated from a record

high scaled earlier on Friday to close 1.6 percent lower as

investors locked in profits from three straight sessions of

gains, while Vietnam reversed earlier losses to close higher.

Industrials and financial stocks led the losses on the

Philippine index, reducing its weekly gain to nearly 1

percent.

Conglomerate JG Summit dropped 3.8 percent while

Bank of the Philippine Islands lost 4.2 percent.

"During the biggest part of the trading session investors

were quite optimistic anticipating better-than-expected

third-quarter results for some of the big companies," said

Lexter Azurin, an analyst with Manila-based AB Capital

Securities.

Companies such as Ayala Corp, SM Investments

and JG Summit are scheduled to report quarterly results later

this month.

"But I guess some investors were seeing mixed reactions

given that current valuations (of the index movers) are quite

rich at this point so we're seeing a lot of investors starting

to take profits," said Azurin.

Vietnamese shares pared earlier losses to close 1.3

percent higher.

China and Vietnam reached an agreement on Friday to

diplomatically manage their dispute in the South China Sea. The

countries have long been at loggerheads over China's claim to

the majority of the regional sea.

Industrials and financial stocks accounted for the gains on

the index, with builder FLC Faros Construction and

Vietcombank rising 6.9 percent and 2 percent,

respectively.

Singapore ended marginally higher, with gains in

telecom stocks offsetting losses in consumer stocks.

"Traders are being more cautious today, heading into the

weekend... the STI may turn range-bound these few days," said

Liu Jinshu, director of research at NRA Capital.

Telco Singtel was the top gainer on the

city-state's index while Thai Beverage lost 1 percent

and led the decliners.

The index has dropped 0.1 percent this week, its first

weekly loss in five.

Indonesian shares also closed marginally higher,

with the index gaining 1.1 percent on the week, its best in

twelve.

Malaysian shares ended flat, resulting in the

index's fifth weekly drop in seven.

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SOUTHEAST ASIAN STOCK MARKETS

Change on day

Market Current Previous Pct Move

close

Singapore 3382.31 3380.5 0.05

Bangkok 1701.47 1701.93 -0.03

Manila 8376.13 8516.02 -1.64

Jakarta 6039.541 6031.107 0.14

Kuala Lumpur 1740.93 1741.05 -0.01

Ho Chi Minh 843.73 833.09 1.28

Change on year

Market Current End 2016 Pct Move

Singapore 3382.31 2880.76 17.41

Bangkok 1701.47 1542.94 10.27

Manila 8376.13 6840.64 22.45

Jakarta 6039.541 5296.711 14.02

Kuala Lumpur 1740.93 1641.73 6.04

Ho Chi Minh 843.73 664.87 26.90

(Reporting by Devika Syamnath in Bengaluru; Editing by Amrutha

Gayathri)