October 25, 2017 / 10:58 AM / 4 months ago

SE Asia Stocks-End higher; Indonesia hits record closing high on banks

    By Devika Syamnath
    Oct 25 (Reuters) - Indonesian shares hit a record
closing high on Wednesday, marking a fresh peak for a second
straight session, led by financial stocks, while other Southeast
Asian stock markets rose tracking Asian peers and Wall Street
overnight.
    Indonesia rose 1.2 percent to finish at 6,025.434,
with shares of Bank Mandiri (Persero) Tbk PT among the
top gainers on the index.
    The Jakarta Composite Index has risen 2.1 percent so far in
the month, and around 14 percent this year.
    "We are optimistic in banking industry as recovery of
Indonesia economy is expected to benefit the industry," said
Mirae Asset Sekuritas in a note.
    Indonesia's central bank, which stood pat on rates last
week, said third-quarter GDP would grow faster than initially
expected. 
    Bank Mandiri posted a 25 percent jump in net income for the
first nine months of the year.
    "We think there would be buying flow on BMRI as the
management guided for 40-45 percent dividend payout for 2017
(financial year) earnings," Mirae Asset Sekuritas said.
    In other markets, Singapore rose 0.3 percent, with
financials accounting for a majority of the gains on the index.
    DBS Group Holdings Ltd climbed 1.4 percent to hit
a nearly three-month high. 
    Thai shares edged up, led by real estate and
consumer discretionary stocks. 
    Carabao Group PCL soared 7.4 percent to touch a
record closing high, while U City PCL was the top gainer
on the index.  
    The Philippine index rose 0.3 percent, helped by
industrial stocks.
    Index heavyweights SM Investments Corp rose 2.1
percent and JG Summit Holdings Inc ended 3.5 percent
higher.
    In Asia, shares were up 0.2 percent as of
1043 GMT, while the Dow registered its biggest daily
percentage gain in more than one month on Tuesday.


    
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SOUTHEAST ASIAN STOCK MARKETS
  Change on day                                        
  Market           Current       Previous     Pct Move
                                 close        
  Singapore        3343.88       3334.67      0.28
  Bangkok          1708.84       1701.81      0.41
  Manila           8303.35       8279.92      0.28
  Jakarta          6025.434      5952.076     1.23
  Kuala Lumpur     1739.05       1736.14      0.17
  Ho Chi Minh      830.69        825.24       0.66
                                              
  Change on year                              
  Market           Current       End 2016     Pct Move
  Singapore        3343.88       2880.76      16.08
  Bangkok          1708.84       1542.94      10.75
  Manila           8303.35       6840.64      21.38
  Jakarta          6025.434      5296.711     13.76
  Kuala Lumpur     1739.05       1641.73      5.93
  Ho Chi Minh      830.69        664.87       24.94
 

 (Reporting by Devika Syamnath in Bengaluru, Additional
reporting by Fransiska Nangoy in Jakarta; Editing by Biju
Dwarakanath)
  
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