September 18, 2017 / 10:29 AM / 2 years ago

REFILE-SE Asia Stocks-Most gain; Thai shares hit near 24-yr closing high

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    By Binisha Ben
    Sept 18 (Reuters) - Most southeast Asian shares ended higher
on Monday, with the Philippine index hitting a fresh closing
high and Thai shares scaling a near 24-year peak.
    Philippine shares ended up 1.4 percent, in their
fifth straight session of gains, bolstered by financial and
industrial stocks.
    Property developer Ayala Land and SM Investment
 led gains, closing up 4.7 percent and 4 percent,
    "Shares continued their upward trajectory as this week sees
the end of the ghost month and the meeting of several central
banks, including our own," said Luis Gerardo Limlingan, managing
director at Regina Capital Development Corp.
    Analysts say the ghost month, during which Chinese investors
cut back on market activity, sometimes stalls momentum in
    The seventh month in the Chinese lunar calendar is
considered inauspicious and numerous activities may grind to a
halt as families avoid moving house, couples postpone wedding
plans and tourists shy away from beach resorts.
    "Both S&P 500 and Dow finished at records, which also
propelled the Philippines to new heights," Limlingan said.
    Thai shares closed up 0.6 percent, at their highest
since January 1994, supported by energy and industrial stocks. 
    Thailand's central bank said on Monday it had taken action
against what it called "periodic speculation" in the baht 
currency, which hovered at more than 28-month highs against the
U.S. dollar.
    The central bank has resolved problems with a number of
financial institutions which had irregular transactions, Bank of
Thailand Governor Veerathai Santiprabhob told reporters.
    Oil and gas refiner PTT Pcl gained as much as 2.4
percent to its highest in seven months and Airports of Thailand
 rose as much as 2.6 percent to close at a record.
    Most other regional markets rose on relief that the weekend
passed with no new provocation by North Korea, though
Pyongyang's nuclear ambitions will be centrestage when U.S.
President Donald Trump addresses world leaders at the United
Nations on Tuesday.  
    The Singapore index closed up 1 percent, with
financials accounting for more than half its gains. Data showing
that non-oil exports rose more expected in August from a year
earlier provided a further boost.
    Indonesian shares recovered from early losses to end
0.2 percent higher as financial and energy shares gained.
For Asian Companies click;  
  Market           Current       Previous     Pct Move
  Singapore        3241.85       3209.56      1.01
  Bangkok          1670.2        1660.53      0.58
  Manila           8294.14       8180.85      1.38
  Jakarta          5884.611      5872.392     0.21
  Kuala Lumpur     1783.66       1786.33      -0.15
  Ho Chi Minh      807.87        805.82       0.25
  Change on year                              
  Market           Current       End 2016     Pct Move
  Singapore        3241.85       2880.76      12.53
  Bangkok          1670.2        1542.94      8.25
  Manila           8294.14       6840.64      21.25
  Jakarta          5884.611      5296.711     11.10
  Kuala Lumpur     1783.66       1641.73      8.65
  Ho Chi Minh      807.87        664.87       21.51

 (Reporting by Binisha Ben in Bengaluru, additional reporting by
Enrico delaCruz; Editing by Vyas Mohan)
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