December 21, 2017 / 4:32 AM / 10 months ago

SE Asia Stocks-Indonesia bounces back on ratings upgrade; Philippines extends fall

    By Nikhil Nainan
    Dec 21 (Reuters) - Indonesian shares rose nearly 1 percent
on Thursday, bouncing back from a drop in the previous session,
after Fitch raised the country's credit ratings by a notch to
their second lowest investment grade.
    The ratings agency said the direction of macroeconomic and
monetary policies has made Southeast Asia's largest economy
resilient to external shocks.
    The Jakarta SE Composite Index was headed for a
seventh session of increases in eight with financials leading
the gains. 
    Bank Negara Indonesia (Persero) Tbk PT gained 2.6
percent and Bank Mandiri (Persero) Tbk PT climbed 2.4
percent.
    An index of the country's 45 most liquid stocks
rose 1.1 percent.
    Meanwhile, most other Southeast Asian stock markets were
sluggish in lacklustre trade, in line with Asian peers as
investors have already factored in the benefits to company
bottom lines from U.S. tax cuts. 
    The Republican-controlled U.S. House of Representatives gave
final approval on Wednesday to the biggest overhaul of the U.S.
tax code in 30 years, sending a sweeping $1.5 trillion tax bill
to President Donald Trump for his signature.
    Thai shares were slightly higher after six straight
sessions of gains, on upbeat investor sentiment with
customs-cleared annual exports rising for a ninth straight month
in November.
    Exports, a key driver of Thailand's growth, increased 13.4
percent in November from a year earlier, handily beating a
Reuters median forecast of a 6.4 percent rise.
    Philippine shares extended falls into a third
session, weighed down by losses in financial and real estate
stocks. 
    Ayala Land Inc fell 1.2 percent, while BDO Unibank
Inc dropped 0.7 percent. Telecom company PLDT Inc 
 declined 1.9 percent as news of a third telecom
provider to challenge the existing duopoly gains steam.

    Singapore shares dropped for a sixth straight
session, hitting a two-week low, dragged down by financial and
real estate stocks.
    Oversea-Chinese Banking Corp declined 0.9 percent,
while CapitaLand Commercial Trust dropped over 3
percent. 

For Asian Companies click;  

SOUTHEAST ASIAN STOCK MARKETS: CHANGE AT 0339 GMT
 Market                   Current   Previous close  Pct Move
 Singapore                3389.52   3394.87         -0.16
 Bangkok                  1740.34   1738.16         0.13
 Manila                   8330.99   8362.61         -0.38
 Jakarta                  6160.622  6109.482        0.84
 Kuala Lumpur             1746.68   1746.63         0.00
 Ho Chi Minh              956.15    953.51          0.28
                                                    
 Change so far this year                            
 Market                   Current   End 2016        Pct Move
 Singapore                3389.52   2880.76         17.66
 Bangkok                  1740.34   1542.94         12.79
 Manila                   8330.99   6840.64         21.79
 Jakarta                  6160.622  5296.711        16.31
 Kuala Lumpur             1746.68   1641.73         6.39
 Ho Chi Minh              956.15    664.87          43.81
 
 (Reporting by Nikhil Kurian Nainan in Bengaluru; Editing by
Subhranshu Sahu)
  
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