October 13, 2017 / 10:13 AM / 2 months ago

SE Asia Stocks-Rise on upbeat China data; Philippines closes at record high

    By Chandini Monnappa
    Oct 13 (Reuters) - Most Southeast Asian stock markets ended
higher on Friday, with the Philippines closing at a record
level, as robust Chinese trade data boosted investor sentiment
across the region.
    Customs data showed China's import and export growth
accelerated in September, suggesting the world's second-biggest
economy is still expanding at a healthy pace despite widespread
forecasts of an eventual slowdown.
    "The Chinese trade data has had a positive impact on
markets, key countries in Asia are now major trading partners
with China," said Joel Ng, an analyst with Singapore-based KGI
Securities.
    Investors now await U.S. inflation data due later in the day
and China's 19th Communist Party Congress for cues about the
global economy.
    China's Communist Party opened a meeting earlier this week
to make final preparations for a key party congress that begins
on Oct. 18. The party's constitution will be amended at the end
of the Congress.
    Philippine shares rose half a percent to their
highest ever close, helped mostly by financials. 
    BDO Unibank Inc jumped 3.3 percent to close at an
all-time high, while Security Bank Corp climbed 3.1
percent to its highest close in over eight weeks.
    For the week, the Philippine stock index added 1.7 percent
in its second straight weekly gain.
    Singapore shares rose for a second straight session
and closed at their highest in 10 weeks, on better-than-expected
gross domestic product (GDP) numbers and the central bank's
decision to keep its monetary policy unchanged.
    Keppel Corp Ltd was the biggest boost, ending the
day 4.1 percent higher, while City Developments Ltd
closed at its highest in 10 months.
    Malaysian shares inched up, helped by utility
stocks, but closed 0.5 percent lower this week.
    CIMB Group Holdings Bhd rose 0.5 percent on
Friday, while Tenaga Nasional Bhd climbed 0.6 percent.
    Vietnam equities rose 0.6 percent to their highest
close in more than nine-and-a-half years. For the week, they
gained 1.6 percent.
    Indonesia closed slightly lower, while Thailand
 was closed for a local holiday.
    
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SOUTHEAST ASIAN STOCK MARKETS: CHANGE ON DAY
  Market             Current     Previous close   Pct Move
  Singapore          3319.11     3303.09          0.49
  Manila             8447.94     8402.81          0.54
  Jakarta            5924.124    5926.204         -0.04
  Kuala Lumpur       1755.32     1754             0.08
  Ho Chi Minh        820.95      815.87           0.62
                                                  
  Change on year                                  
  Market             Current     End 2016         Pct Move
  Singapore          3319.11     2880.76          15.22
  Manila             8447.94     6840.64          23.5
  Jakarta            5924.124    5296.711         11.85
  Kuala Lumpur       1755.32     1641.73          6.92
  Ho Chi Minh        820.95      664.87           23.5
 
 (Reporting by Chandini Monnappa, additional reporting by
Shanima A; Editing by Subhranshu Sahu)
  

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