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SE Asia Stocks-Indonesia hits record high, Philippines falls about 1 pct
October 26, 2017 / 5:34 AM / a month ago

SE Asia Stocks-Indonesia hits record high, Philippines falls about 1 pct

    By Devika Syamnath
    Oct 26 (Reuters) - Indonesian shares hit an all-time high on
Thursday, helped by gains in PT Telekomunikasi Indonesia on
robust earnings, while Philippine stocks dropped nearly 1
percent to a more than three-week low.
    The Jakarta Composite Index rose as much as 0.3
percent to 6,042.45, hitting a record high for a third straight
session. It has gained 2.2 percent so far this month in what
could be its ninth straight monthly gain, and about 14 percent
this year.
    Telekomunikasi Indonesia (Persero) Tbk Perusahaan Perseroan
PT recovered from early falls and rose as much as 4.2
percent, after the country's largest telecommunications company
posted a 21.6 percent jump in its nine-month net profit.

    Philippine shares fell as much as 0.9 percent to
their lowest since Oct. 2, declining for a fourth session in
five, with industrial and real estate stocks leading the fall.
    SM Investments Corp was the biggest drag, shedding
as much as 1.7 percent, while BDO Unibank Inc fell 1.1
percent.
    Among other Southeast Asian markets, Singapore
extended gains into a second session, with financial and
consumer stocks leading the rise.
    The city-state's industrial production in September rose
better than expected due to continued growth in electronics,
data showed on Thursday.
    Casino operator Genting Singapore PLC climbed 4.2 
percent on Thursday, while lender DBS Group gained 0.5
percent.
    Asian stocks barely changed, as Wall Street shares pulled
back from record highs, while the euro stretched gains ahead of
a European Central Bank meeting that could take a major step
away from its accommodative policy.
    The ECB is all but certain to cut back on its bond-buying
stimulus, taking its biggest step yet in unwinding years of
loose monetary policy.
    However, as low inflation remains a primary concern for the
bank, any reduction in monthly asset purchases would be expected
to come with an extension of the programme. 
    Thai markets were closed for the cremation of late King
Bhumibol Adulyadej.

    For Asian Companies click;  

SOUTHEAST ASIAN STOCK MARKETS
  Change on day                                         
  Market            Current       Previous     Pct Move
                                  close        
  Singapore         3350.46       3343.88      0.20
  Manila            8230.16       8303.35      -0.88
  Jakarta           6028.249      6025.434     0.05
  Kuala Lumpur      1736.3        1739.05      -0.16
 Ho Chi Minh        829.67        830.69       -0.12
                                               
  Change on year                               
  Market            Current       End 2016     Pct Move
  Singapore         3350.46       2880.76      16.30
  Manila            8230.16       6840.64      20.31
  Jakarta           6028.249      5296.711     13.81
  Kuala Lumpur      1736.3        1641.73      5.76
  Ho Chi Minh       829.67        664.87       24.79
 

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

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