February 19, 2018 / 4:10 AM / 6 months ago

SE Asia Stocks-Higher; Singapore, Philippines up 1 pct

    * Malaysia rises as much as 0.9 pct
    * Indonesia, Thailand both hit over 2-week highs

    By Christina Martin
    Feb 19 (Reuters) - Shares in Singapore and the
Philippines rose 1 percent on Monday, led by financials,
as equity markets in the region followed a global recovery after
recent volatility that stemmed from concerns over rising
inflation. 
    Asia shares ex-Japan rose 0.5 percent, while
Wall Street gained marginally on Friday. The rebound came after
a global equity markets sell-off triggered by worries a rise in
U.S. inflation may boost dollar funding costs.
    "With the U.S. dollar heading lower, improving regional
currency sentiment, global investors are moving back into
undervalued pockets of local equity markets to pick up yield and
gain local currency exposure," said Stephen Innes, head of
trading in Asia-Pacific for Oanda in Singapore.
    The dollar held above three-year lows against a basket of
currencies on Monday.
    The U.S. currency has been weighed down by a variety of
factors this year, including concerns that Washington might
pursue a weak dollar strategy.
    In Southeast Asia, Singapore shares hit a two-week
high, with financials and real estate stocks leading the
gainers. 
    Oversea-Chinese Banking Corporation Ltd added as
much as 1 percent, while Hongkong Land Holdings Ltd
rose over 2 percent. 
    Philippines gained for a fourth straight session, led
by industrial and financial stocks. 
    SM Investments Corp hit a near two-week high, while
BDO Unibank Inc rose 2.5 percent.
    Malaysia jumped as much as 0.9 percent to its
highest in two weeks, led by financials and telecoms, and was on
track for a fifth straight session of gains. 
    The Indonesian and Thai indexes touched
their highest in more than two weeks. 
    Vietnam was closed for a local holiday. 

    
For Asian Companies click;  

SOUTHEAST ASIAN STOCK MARKETS: Change at 0319 GMT 
    
 Change on day                                    
 Market                 Current   Previous close  Pct Move
 Singapore              3477.85   3443.51         1.00
 Bangkok                1815.16   1805.89         0.51
 Manila                 8698.81   8612.44         1.00
 Jakarta                6633.195  6591.582        0.63
 Kuala Lumpur           1853.7    1838.28         0.84
                                                  
 Change so far in 2018                            
 Market                 Current   End 2017        Pct Move
 Singapore              3477.85   3402.92         2.20
 Bangkok                1815.16   1753.71         3.50
 Manila                 8698.81   8558.42         1.64
 Jakarta                6633.195  6355.654        4.37
 Kuala Lumpur           1853.7    1796.81         3.17
 
 (Reporting by Christina Martin in Bengaluru; Editing by Biju
Dwarakanath)
  
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