SE Asia Stocks-Singapore jumps 1.5 pct; Philippines down on higher inflation
* Singapore posts biggest intraday pct gain in nearly 4
months
* Vietnam poised to snap a three-session winning streak
By Karthika Suresh Namboothiri
Aug 7 (Reuters) - Singapore shares jumped more than 1.5
percent on Tuesday boosted by strong financials, while
Philippine shares slipped on data showing annual inflation
quickened in July, cementing expectations for further policy
tightening this week.
Singapore shares jumped the most since April 18, helped by
gains in United Overseas Bank Ltd, which rose more
than 3 percent, and Oversea-Chinese Banking Corp,
which extended gains on upbeat corporate results.
Philippine annual inflation accelerated in July and moved
away from the central bank's comfort range. Inflation quickened
to 5.7 percent, the fastest rise in over five years, due to
higher food and transport costs, and beat a Reuters' poll
estimate of 5.5 percent.
"Philippine markets are reacting to the inflation figure
that came at a new height, which basically disappointed
investors and raised concerns about an overheating economy,"
said Lexter Azurin, senior analyst, AB Capital Securities.
Manila's main index extended declines to a second
session, largely pulled down by losses in industrials.
SM Investments Corp dropped as much as 2.5 percent,
while Aboitiz Equity Ventures slipped up to 2.8
percent.
Despite upbeat economic growth data, Indonesian shares
shed previous session's gains to edge lower on Tuesday.
Southeast Asia's largest economy beat forecast and grew 5.27
percent from a year earlier in the second quarter, data showed
on Monday, still lagging behind the target of 7 percent that
President Joko Widodo set when he joined office in 2014.
The biggest drags on the index were consumer goods company
Unilever Indonesia, which lost as much as 2.3 percent,
while Telekom Indonesia slipped more than 1.6 percent.
An index of the country's 45 most liquid stocks
edged 0.6 percent lower.
Malaysian shares climbed with IHH Healthcare
rising up to 2.9 percent, while Vietnam stocks
were on track to snap three sessions of gains.
Thai shares edged lower with Kasikornbank
falling as much as 1.8 percent.
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SOUTHEAST ASIAN STOCK MARKETS AS AT 0431 GMT
Market Current Previous close Pct Move
Singapore 3338.32 3285.34 1.61
Bangkok 1693.89 1696.24 -0.14
Manila 7747.47 7817.31 -0.89
Jakarta 6087.359 6101.131 -0.23
Kuala Lumpur 1787.59 1779.75 0.44
Ho Chi Minh 956.1 960.23 -0.43
Change on year
Market Current End 2017 Pct Move
Singapore 3338.32 3402.92 -1.90
Bangkok 1693.89 1753.71 -3.41
Manila 7747.47 8558.42 -9.48
Jakarta 6087.359 6355.654 -4.22
Kuala Lumpur 1787.59 1796.81 -0.51
Ho Chi Minh 956.1 984.24 -2.86
(Reporting by Karthika Suresh Namboothiri, Editing by Sherry
Jacob-Phillips)