January 3, 2018 / 3:52 AM / 5 months ago

SE Asia Stocks-Most rise; Philippines surges to record

    By Aditya Soni
    Jan 3 (Reuters) - Most Southeast Asian stock markets rose on
Wednesday, tracking gains across Asia, with the Philippines
rising more than 1 percent to a fresh record on its first
trading day of the year.
    A bevy of strong manufacturing data that underscored an
upturn in world economic growth boosted risk appetite, lifting
broader Asian stocks to a fresh decade high. 
    MSCI's index of Asia-Pacific shares outside Japan
 edged up 0.1 percent, having jumped 1.4 percent
on Tuesday in its best performance since last March.
    "The regional markets are really bullish about the year
ahead, so that's influencing their performance today," said 
Lexter Azurin, an analyst with AB Capital Securities in Manila.
    Philippine shares climbed 1.3 percent to an all-time
high, with industrials and financials leading the gainers.
    "I think the (Philippine) tax reform package is the very
essence of the infrastructure push of the government, so we are
seeing a lot of optimism on that aspect," Azurin said.
    Philippine President Rodrigo Duterte said last month
lawmakers were expected to pass more measures in 2018 under his
comprehensive tax reform agenda, after signing a bill containing
the first batch of reforms into law.
    Index heavyweight SM Investments Corp surged to a
fresh all-time peak, while SM Prime Holdings Inc rose
to its highest since Nov. 9.
    Singapore shares climbed to a near three-week high,
propelled by financials, which accounted for more than half of
the gains.
    DBS Group Holdings Ltd and Oversea-Chinese Banking
Corp Ltd rose 1 percent and 0.4 percent, respectively.
    Thai shares also firmed on the first trading day of
the year, ahead of the release of inflation data.
    Thailand's headline inflation rate likely held steady in
December, staying just below the central bank's target range,
while November factory output growth accelerated, according to
the median forecast of nine economists surveyed by Reuters.

    Bucking the trend, Indonesian shares slipped,
dragged by consumer staples and stocks of telecommunication
services, retreating from an all-time intraday high hit in the
previous session.
    Unilever Indonesia led the fall as it dipped 2.2
percent, while Telekomunikasi Indonesia (Persero) Tbk Perusahaan
Perseroan PT dropped 2 percent, its biggest intraday
percentage drop since Nov. 8. 
    
For Asian Companies click;  

SOUTHEAST ASIAN STOCK MARKETS
    
 Change as of 0319                            
 GMT                                          
 Market             Current   Previous close  Pct Move
 Singapore          3440.83   3430.3          0.31
 Bangkok            1764.69   1753.71         0.63
 Manila             8670.19   8558.42         1.31
 Jakarta            6294.088  6339.238        -0.71
 Kuala Lumpur       1791.79   1782.7          0.51
 Ho Chi Minh        1001.94   995.77          0.62
                                              
 Change on year                               
 Market             Current   End prev yr     Pct Move
 Singapore          3440.83   3402.92         1.11
 Bangkok            1764.69   1764.69         0.00
 Manila             8670.19   8,558.42        1.31
 Jakarta            6294.088  6,355.65        -0.97
 Kuala Lumpur       1791.79   1796.81         -0.28
 Ho Chi Minh        1001.94   984.24          1.80
 


 (Reporting by Aditya Soni in Bengaluru; Editing by Amrutha
Gayathri)
  
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