October 3, 2018 / 5:00 AM / 2 months ago

SE Asia Stocks-Most climb; Singapore, Philippines recoup losses

    * Singapore gains nearly 1 pct to 8-week high
    * Indonesia falls as rupiah hits 20-yr low

    By Niyati Shetty
    Oct 3 (Reuters) - Most Southeast Asian stock markets edged
higher on Wednesday as investors sought bargains after a subdued
start to the week, with Singapore and the Philippines clawing
back losses over the previous sessions.
    Singapore's benchmark Straits Times index rose as
much as 0.9 percent to its highest since Aug. 10, after the Dow
Jones Industrial Average hit a record closing high
overnight as investors remained upbeat on trade-sensitive
companies following a North American trade deal.
    The city-state's top lenders, DBS Group Holdings
and United Overseas Bank, lifted the market, gaining
1.2 percent and 0.7 percent, respectively. 
    Meanwhile, Indonesian shares dropped 0.3 percent, a
day after the rupiah slid to a 20-year low.
    The index of the country's 45 most liquid stocks
declined 0.4 percent in the session.
    Bank Indonesia has intervened in the currency market and
will maintain its presence to stabilise the rupiah, deputy
governor Dody Budi Waluyo told Reuters on Wednesday.

     On Tuesday, Indonesia's finance minister said Southeast
Asia's largest economy was adjusting "quite well" to higher U.S.
interest rates and the fall of the rupiah.
    Philippine shares edged higher after a 2.6 percent slump
spread across the last three sessions. Real estate companies SM
Prime Holdings gained 1.3 percent and Ayala Land
 rose 0.8 percent on Wednesday.
     
For Asian Companies click;  

SOUTHEAST ASIAN STOCK MARKETS AS AT 0423 GMT 
 Change on the day                           
 Market             Current  Previous close  Pct Move
 Singapore          3268.48  3242.65         0.80
 Bangkok            1753.12  1748.09         0.29
 Manila             7148.63  7132.36         0.23
 Jakarta            5856.34  5875.619        -0.33
 Kuala Lumpur       1796.49  1798.15         -0.09
 Ho Chi Minh        1021.62  1018.79         0.28
                                             
 Change on year                              
 Market             Current  End 2017        Pct Move
 Singapore          3268.48  3402.92         -3.95
 Bangkok            1753.12  1753.71         -0.03
 Manila             7148.63  8558.42         -16.47
 Jakarta            5856.34  6355.654        -7.86
 Kuala Lumpur       1796.49  1796.81         -0.02
 Ho Chi Minh        1021.62  984.24          3.80
 
 (Editing by Amrutha Gayathri)
  
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