August 1, 2018 / 10:22 AM / a year ago

SE Asia Stocks-Most rise; Philippines jumps more than 2 pct

    * Philippines up for 6th session in 7
    * All eyes on U.S. Fed

    By Syed Saif Hussain Naqvi
    Aug 1 (Reuters) - Most Southeast Asian shares ended higher
on Wednesday, with the Philippines rising over 2 percent, while
investors awaited the U.S. Federal Reserve's statement for cues
on the pace of future rate hikes after its policy meeting
concludes later in the day.  
    However, resurfacing U.S.-Sino trade tensions after United
States President Donald Trump announced a 25 percent tariff on
$200 billion of imported Chinese goods after initially setting
them at 10 percent, weighed on sentiment. 
    "I think the FOMC will keep to their policy of tightening in
2018. The outlook for 2019 is more uncertain and we will only
have more visibility in subsequent meetings when the FOMC
updates their economic projections," said Liu Jinshu, director
of research at NRA Capital in Singapore.
    Philippine shares were the top gainers among
Southeast Asian shares, ending 2.2 percent higher, their biggest
gain in over 2 months. 
    Industrials and financials accounted for majority of the
gains, while all other sectors ended in the positive territory.
    SM Investments Corp gained 4.2 percent while BDO
Unibank ended 3.6 percent higher.
    Indonesian shares ended 1.6 percent higher,
bolstered by financials and industrial stocks, with the index
posting its eighth gain in nine sessions.
    Fitch Ratings on Tuesday upgraded the Viability Rating of
Indonesia's state-owned bank PT Bank Rakyat Indonesia (Persero)
Tbk and also reaffirmed the National Ratings on PT
Bank Negara Indonesia (Persero) Tbk.
    Financials surged, with PT Bank Negara Indonesia (Persero)
Tbk rising 5.7 percent and PT Bank Rakyat Indonesia
(Persero) Tbk gaining 3.9 percent.
    Meanwhile, Indonesia's July inflation rate edged up to 3.18
percent against expectations of a 3.24 percent rise.

    Thai shares gained 1.2 percent, their seventh rise
in nine sessions. Data showed the country's headline consumer
price index rose in July. 
    Thailand's annual headline CPI rose 1.46 percent in July, as
expected in a Reuters poll, after a 1.38 percent jump in June.

    Singapore shares gained 0.3 percent on the back of
financials with DBS Group Holdings, Oversea-Chinese
Banking Corp and United Overseas Bank all
    "The banks are going to start reporting their results with
DBS reporting tomorrow morning while UOB will report on Friday
morning. If we look at their recent share price performance,
they have recovered somewhat from the early July lows and hence,
we could be seeing some buying ahead of their results," added
    Vietnam shares ended lower by 0.4 percent, with
financials and real estate stocks pulling the benchmark down

For Asian Companies click;  

  Change on the                                    
  Market          Current      Previous    Pct Move
  Singapore       3328.95      3319.85     0.27
  Bangkok         1722.01      1701.79     1.19
  Manila          7838.22      7672        2.17
  Jakarta         6033.419     5936.443    1.63
  Kuala Lumpur    1788.31      1784.25     0.23
 Ho Chi Minh      952.77       956.39      -0.38
  Change on year                           
  Market          Current      End 2017    Pct Move
  Singapore       3328.95      3402.92     -2.17
  Bangkok         1722.01      1753.71     -1.81
  Manila          7838.22      8,558.42    -8.42
  Jakarta         6033.419     6355.654    -5.07
  Kuala Lumpur    1788.31      1796.81     -0.47
  Ho Chi Minh     952.77       984.24      -3.20

 (Reporting by Syed Saif Hussain Naqvi in Bengaluru; Editing by
Vyas Mohan)
0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below