December 19, 2017 / 4:39 AM / 10 months ago

SE Asia Stocks-Indonesia hits record high on financials; Malaysia extends fall

    By Nikhil Nainan
    Dec 19 (Reuters) - Indonesian shares hit a record high on
Tuesday with financials and consumer goods driving the gains,
while Malaysian stocks were headed for a third straight session
of decline.
    The Jakarta SE Composite Index rose as much as 0.7
percent to an all-time high of 6,175.372, heading for a sixth
straight session of gains. 
    Unilever Indonesia Tbk PT rose as much as 1.9
percent, while Bank Negara Indonesia (Persero) Tbk PT
climbed up to 3.8 percent.
    Singapore shares edged up after three consecutive
sessions of declines, supported by gains in the city-state's top
three lenders. 
    DBS Group Holdings Ltd, Oversea-Chinese Banking
Corporation Ltd and United Overseas Bank Ltd
rose between 0.3 percent and 0.6 percent.
    Thai shares extended gains into a fifth session,
buoyed by financials and consumer staples.
    Kasikornbank PCL and Siam Makro PCL
rose 1.7 percent and 3.4 percent, respectively.
    Malaysian shares fell as much as 0.7 percent with
financial and consumer discretionary stocks declining the most.
    "There is concern that with the rate hike in the U.S., cheap
fund might flow out of the country," said Redza Rahman, head of
research at MDIF.
    The Federal Reserve raised interest rates last week but left
its rate outlook for the coming years unchanged even as
policymakers projected a short-term jump in U.S. economic growth
from the Trump administration's proposed tax cuts.
    Philippine shares dropped 0.8 percent after Monday's
1 percent gain, dragged down by industrials and financials.
    JG Summit Holdings and BDO Unibank were
the worst performers, shedding 4.4 percent and 2.6 percent,
respectively. 

For Asian Companies click;  

SOUTHEAST ASIAN STOCK MARKETS: CHANGE AT 0356 GMT
 Change at 0356 GMT                                 
 Market                   Current   Previous close  Pct Move
 Singapore                3420.97   3414.82         0.18
 Bangkok                  1730.67   1723.71         0.40
 Manila                   8355      8422.82         -0.81
 Jakarta                  6153.504  6133.963        0.32
 Kuala Lumpur             1740.02   1751.64         -0.66
 Ho Chi Minh              954.92    958.06          -0.33
                                                    
 Change so far this year                            
 Market                   Current   End 2016        Pct Move
 Singapore                3420.97   2880.76         18.75
 Bangkok                  1730.67   1542.94         12.17
 Manila                   8355      6840.64         22.14
 Jakarta                  6153.504  5296.711        16.18
 Kuala Lumpur             1740.02   1641.73         5.99
 Ho Chi Minh              954.92    664.87          43.63
 
 (Reporting by Nikhil Kurian Nainan in Bengaluru; Editing by
Subhranshu Sahu)
  
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