September 28, 2018 / 4:03 AM / 22 days ago

SE Asia Stocks-Most rise, all set to end quarter higher

    By Devika Syamnath
    Sept 28 (Reuters) - Most Southeast Asian equities traded in
positive territory on Friday, with markets across the board
poised to end the quarter higher as global tensions plaguing
emerging markets of late receded. 
    "Over the past couple of months we have seen some global
tension across China, U.S., Turkey which stimulated the flight
to safety... Asian markets, especially Indonesia, were one of
the must hurt markets in the world," said Taye Shim, head of
research at Mirae Asset Sekuritas.
    "But investors are now trying to reassess their investment
thesis on emerging market because prices have fallen quite
significantly. So in terms of valuation there are now signs that
the values are a little bit more attractive in the emerging
market space," explained Shim.    
    Broader Asian shares also rose following gains on Wall
Street overnight after news of robust U.S. economic growth.

    Indonesian stocks climbed as much as 0.6 percent,
and headed for a monthly loss but were poised to snap two
quarters in the red. 
    Financials and telecom stocks were the top gainers for the
day with Telekomunikasi Indonesia and Bank Negara
Indonesia adding over 2 percent each. 
    Singapore's FTSE International index gained as much
as 0.8 percent, with financials claiming more than half of the
gains on the counter.
    Lenders United Overseas Bank Ltd and DBS Group
 advanced 1.7 percent and 0.7 percent, respectively. 
    The Philippine Stock Exchange Inc advanced as much as
0.8 percent and looked set to end the quarter higher but its
worst month since November 2016. 
    Financials and telecom stocks added the most to gains with
Bank of the Philippine Islands gaining as much as 5
percent and telecom service provider PLDT Inc up 3.7
percent. 
    Thai stocks were poised to mark their best quarter
since 2013 and added as much as 0.3 percent for the day,
recording a third consecutive session of gains. 
    Financials and energy stocks were the top climbers with
lender Muangthai Capital aiding the index most, up 5.5
percent to a record high. Oil and gas company PTT PCL
advanced 0.9 percent.
    Vietnamese shares rose as much as 0.5 percent, helped
most by financial stocks. The index was poised to end its second
month higher and a sixth quarter in the black out of seven. 
    Vietnam's index of industrial production in September rose
9.1 percent from a year earlier, data showed.
    The country's  economy is estimated to have grown 6.98
percent over January-September this year, the fastest nine-month
growth since 2011, buoyed by upbeat production in manufacturing
and agricultural sectors, the General Statistics Office (GSO)
said on Friday.
    
    
For Asian Companies click;  

SOUTHEAST ASIAN STOCK MARKETS
    
 Change on day                             
 Market          Current   Previous Close  Pct Move
 Singapore       3256.52   3236.26         0.63
 Bangkok         1756.02   1752.95         0.18
 Manila          7345.65   7320.59         0.34
 Jakarta         5957.256  5929.216        0.47
 Kuala Lumpur    1796.16   1798.64         -0.14
 Ho Chi Minh     1017.35   1015.37         0.20
                                           
 Change on year                            
 Market          Current   End 2017        Pct Move
 Singapore       3256.52   3402.92         -4.30
 Bangkok         1756.02   1753.71         0.13
 Manila          7345.65   8558.42         -14.17
 Jakarta         5957.256  6355.654        -6.27
 Kuala Lumpur    1796.16   1796.81         -0.04
 Ho Chi Minh     1017.35   984.24          3.36
 
 (Reporting by Devika Syamnath in Bengaluru, additional
reporting by Aditya Soni in Bengaluru; Editing by Sunil Nair)
  
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