November 23, 2017 / 4:38 AM / 25 days ago

SE Asia Stocks-Most gain; S'pore falls on policy tightening worries

    By Sumeet Gaikwad
    Nov 23 (Reuters) - Most Southeast Asian stock markets edged
higher on Thursday, in line with broader Asia, after minutes of
the U.S. Federal Reserve meeting indicated that policy
tightening might not be as aggressive as previously expected.
    Asian shares outside Japan rose 0.3 percent,
to a fresh decade high, while the dollar languished and U.S.
treasury yields weakened on expectations of a weaker rate rise
cycle ahead.
    However, Singapore shares edged lower on worries of a
tighter monetary policy after third-quarter data showed the
city-state's economy grew at its fastest pace in nearly four
years.
    The benchmark index inched down 0.1 percent as gains
in industrials were more than offset by losses in real estate
and consumer staples stocks.
    Lender OCBC weighed on the index, dropping 0.3
percent, while Capitaland Commercial Trust fell 2.2
percent. 
    Singapore and other trade-reliant economies in Asia have
received a boost this year from an improvement in global demand,
with most countries reporting better-than-expected growth
figures.
    Philippine shares rose 0.5 percent, buoyed by
industrial stocks.
    "Financials are rising on expectations that the government
will be able to pass the tax reform bill," said an analyst from
Manila, who did not want to be named.
    The Philippine tax reform bill, aimed at generating revenue
to fund a multi-billion dollar infrastructure program key to the
government's economic agenda, was passed by the lower house of
Congress in May. The reform still needs Senate approval.

    Index heavyweights SM Investments Corp rose 1.7
percent, while BDO Unibank Inc gained 1.3 percent.
    Indonesian stocks edged lower, while the index of
the country's 45 top liquid stocks climbed 0.1
percent. 
    Thai shares edged up 0.3 percent with energy and
real estate stocks leading the gains, while Malaysian shares
 rose, led by financial and industrial stocks.
    
For Asian Companies click;  

SOUTHEAST ASIAN STOCK MARKETS: CHANGE AT 0345 GMT

 STOCK MARKETS                             
 Change on day                             
 Market          Current   Previous Close  Pct Move
 Singapore       3427.58   3430.02         -0.07
 Bangkok         1717.65   1713.13         0.26
 Manila          8304.98   8265.68         0.48
 Jakarta         6064.946  6069.785        -0.08
 Kuala Lumpur    1724.96   1723.54         0.08
 Ho Chi Minh     938.63    932.66          0.64
                                           
 Change on year                            
 Market          Current   End 2016        Pct Move
 Singapore       3427.58   2880.76         18.98
 Bangkok         1717.65   1542.94         11.32
 Manila          8304.98   6840.64         21.41
 Jakarta         6064.946  5296.711        14.50
 Kuala Lumpur    1724.96   1641.73         5.07
 Ho Chi Minh     938.63    664.87          41.17
 
 (Reporting by Sumeet Gaikwad in Bengaluru, Adittional reporting
by Aditya Soni; Editing by Amrutha Gayathri)
  

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