SE Asia Stocks-Philippines, Thailand set fresh records; Vietnam falls
By Devika Syamnath
Jan 16 (Reuters) - Philippine and Thai shares climbed to
all-time highs on Tuesday, while most other Southeast Asian
stock markets trod water in line with broader Asia as caution
set in after the previous session's record-setting gains.
The Philippine index rose as much as 1 percent to an
all-time high of 8,946.01 and was on track for its third
straight winning session.
Industrial and real estate stocks led the gains, with
heavyweight SM Investments Corp gaining as much as 1.2
percent and JG Summit Holdings up 2.7 percent.
Typical market strength in the first month of the year and
positive data suggest the Philippine market may gain another 100
points, said Eagle Equities President Joseph Roxas.
Robust investment inflows and trade deficit data reported
last week signalled strength in the Philippine economy, while
data released on Monday showed a 2 percent rise in November
remittances from overseas Filipinos, a key driver of economic
growth.
Thai shares rose as much as 0.5 percent to a record
1,831.45 mark, on track for a fourth straight gaining session,
helped higher by energy and financial stocks.
Brent crude prices were settling in around $70 per barrel,
levels last seen before the start of an oil market slump in late
2014.
Oil and gas firm PTT rose 2 percent to a record
while Bank of Ayudhya soared as much as 8.2 percent.
However, trade in most other markets in the region were
muted, with MSCI's broadest index of Asia-Pacific shares outside
Japan up 0.4 percent after having hit an
all-time peak on Monday.
Investors are awaiting key U.S. earnings and Wednesday's
interest rate decision from the Bank of China, OCBC Treasury
Research said in a note.
Indonesian shares firmed as much as 0.4 percent on
strength in consumer staple stocks.
Consumer goods manufacturer Unilever Indonesia and
telecom Telekomunikasi Indonesia climbed 0.7 percent
each and led the gainers.
Singapore stocks fell as much as 0.3 percent in early
trade before reversing the losses as gains in real estate offset
losses in the financials and telecom stocks.
The city-state's biggest banks, DBS Group Holdings
and United Overseas Bank, lost as much as 0.6 percent
each, while CapitaLand Commercial Trust gained 1
percent.
Vietnam shares fell as much as 1 percent, on course
to break a six-session gaining run, while Malaysia shed
0.4 percent.
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SOUTHEAST ASIAN STOCK MARKETS AS AT 0419 GMT
Change on the
day
Market Current Previous Pct Move
close
Singapore 3538.4 3536.41 0.06
Bangkok 1830.43 1822.66 0.43
Manila 8939.09 8857.72 0.92
Jakarta 6407.581 6382.195 0.40
Kuala Lumpur 1821.77 1825.91 -0.23
Ho Chi Minh 1057.64 1063.47 -0.55
Change on year
Market Current End 2017 Pct Move
Singapore 3538.4 3402.92 3.98
Bangkok 1830.43 1753.71 4.37
Manila 8939.09 8558.42 4.45
Jakarta 6407.581 6355.654 0.82
Kuala Lumpur 1821.77 1796.81 1.39
Ho Chi Minh 1057.64 984.24 7.46
(Reporting by Devika Syamnath in Bengaluru; Editing by Amrutha
Gayathri)