January 26, 2018 / 4:36 AM / 10 months ago

SE Asia Stocks-Philippines falls on profit-taking, Indonesia scales record high

    * Malaysia set to post ninth straight weekly rise
    * Vietnam hits highest in more than 10 years
    * Most markets on course to end week higher

    By Aaron Saldanha
    Jan 26 (Reuters) - Philippine shares on Friday retreated
from a record closing high hit in the previous session, while
Indonesia scaled a fresh peak on the back of gains in
infrastructure and financial stocks. 
    Most other Southeast Asian stock markets were sluggish, but
on course to close the week higher.
    Meanwhile, the dollar regained some lost ground after U.S.
President Donald Trump said on Thursday he wanted a "strong
dollar", contradicting Treasury Secretary Steven Mnuchin's
comments.
    Philippine stocks fell as much as 0.6 percent with
industrials and financials weighing on the index.
    "Every time the market reaches around the 9,000 resistance,
there is a tendency to take profits, since there really is no
catalyst for the market to break above 9,000," said Rachelle
Cruz, an equity analyst with AP Securities.
    Among the biggest drags, Metropolitan Bank and Trust Co
 fell up to 2.6 percent.
    Indonesian shares climbed as much as 0.8 percent to
an all-time peak, with Telekomunikasi Indonesia (Persero) Tbk
Perusahaan Perseroan PT jumping as much as 4.3
percent.
    An index of the country's 45 most liquid stocks
gained as much as 1.1 percent and was headed for an eighth
straight weekly rise.
    Vietnam shares surged as much as 1.7 percent to their
highest level since May 2007 and were the region's biggest
gainers, propelled by financials and consumer staples.  
    Joint Stock Commercial Bank for Investment and Development
of Vietnam rose as much as 6.9 percent to an all-time
peak.
    Singapore fell marginally as gains in real estate
stocks were overshadowed by losses in financials and telecoms.
    DBS Group Holdings was the biggest drag with a
drop of 1.3 percent.
    The city-state is scheduled to release its December
manufacturing data later in the day.
    Malaysian shares touched their highest since April
2015, largely due to gains in financials, but reverted to trade
flat. They have gained 0.9 percent so far this week, heading for
a ninth straight weekly gain.  
    Thai shares fell as much as 0.7 percent to their
lowest in a week, hurt by losses in consumer discretionary and
utility stocks.
    
For Asian Companies click;  

SOUTHEAST ASIAN STOCK MARKETS: Change as at 0353 GMT
  Market          Current      Previous    Pct Move
                               close       
  Singapore       3571.4       3572.62     -0.03
  Bangkok         1816.94      1819.29     -0.13
  Manila          8980.89      8999.17     -0.20
  Jakarta         6636.574     6615.328    0.32
  Kuala Lumpur    1846.05      1845.86     0.01
 Ho Chi Minh      1114.62      1104.57     0.91
                                           
  Change on year                           
  Market          Current      End-2017    Pct Move
  Singapore       3571.4       3402.92     4.95
  Bangkok         1816.94      1753.71     3.61
  Manila          8980.89      8558.42     4.94
  Jakarta         6636.574     6355.654    4.42
  Kuala Lumpur    1846.05      1796.81     2.74
  Ho Chi Minh     1114.62      984.24      13.25
 
 (Reporting by Aaron Saldanha, Additional reporting by Sumeet
Gaikwad in Bengaluru; Editing by Subhranshu Sahu)
  
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