December 22, 2017 / 10:09 AM / a year ago

SE Asia Stocks-Gain; Indonesia hits new high, S'pore snaps 6-day losing streak

    By Nikhil Nainan
    Dec 22 (Reuters) - Southeast Asian stock markets rose on
Friday with Indonesia hitting a fresh high and Singapore
 snapping a six-session losing streak, ahead of the long
Christmas weekend.
    MSCI's index of Asia-Pacific shares outside Japan
 climbed 0.7 percent. 
    Indonesian shares extended gains for a second straight
session after Fitch upgraded Southeast Asia's largest economy's
credit ratings on Thursday.
    "We note that foreign reserves are on a consistently growing
trend since October 2015 … This contributes directly to
Indonesia's increased resilience to external shocks and will act
as a buffer if and when capital inflows reverse in the context
of a tightening of the global monetary environment," OCBC Bank
said in a note. 
    The index was up 0.6 percent for the day and closed the week
1.7 percent higher, marking its third consecutive weekly gain.
An index of the country's 45 most liquid stocks rose
0.9 percent on Friday.
    Among the top gainers were Bank Central Asia Tbk PT
, up 2 percent and Bank Sinarmas Tbk PT, up
14.5 percent.
    In Singapore, top lenders DBS Group Holdings and
Oversea-Chinese Banking Corporation, up 0.7 percent
and 0.4 percent, respectively, helped the FTSE Straits Times
index close higher. However, the index was down for a third
straight week. 
    Philippine shares recovered early losses to end 0.6
percent higher, helped by gains in financials and telecoms,
ahead of November budget deficit data expected after market
    BDO Unibank Inc and Bank of the Philippine Islands
 gained more than one percent each. PLDT Inc
rose 1.1 percent as investors took note of the its plans to
spend more than 50 billion pesos in capital expenditure in 2018,
ahead of the arrival of a telco competitor. 

    The index closed 1.1 percent higher for the week, its third
consecutive weekly gain. 
    In October, the archipelago nation had posted a budget
deficit of 21.8 billion pesos ($435.00 million), much wider than
the gap a year earlier.
For Asian Companies click;  

 Change on the day                                  
 Market                   Current   Previous close  Pct Move
 Singapore                3385.71   3382.53         0.09
 Bangkok                  1742.08   1736.91         0.30
 Manila                   8432.31   8378.28         0.64
 Jakarta                  6221.013  6183.391        0.61
 Kuala Lumpur             1760.24   1751.21         0.52
 Ho Chi Minh              952.32    946.06          0.66
 Change so far this year                            
 Market                   Current   End 2016        Pct Move
 Singapore                3385.71   2880.76         17.53
 Bangkok                  1742.08   1542.94         12.91
 Manila                   8432.31   6840.64         23.27
 Jakarta                  6221.013  5296.711        17.45
 Kuala Lumpur             1760.24   1641.73         7.22
 Ho Chi Minh              952.32    664.87          43.23
($1 = 50.1150 Philippine pesos)

 (Reporting by Nikhil Kurian Nainan 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