January 8, 2018 / 4:20 AM / 9 months ago

SE Asia Stocks-Rise; Thailand hits record high

    By Sandhya Sampath
    Jan 8 (Reuters) - Most Southeast Asian stock markets rose on
Monday, mirroring  gains on Wall Street last week and as
expectations of higher corporate earnings buoyed sentiment, with
Thailand hitting a record high.
    Asian shares ex-Japan crept toward all-time
peaks, with brisk economic growth and benign inflation adding to
the risk appetite, while U.S. stocks notched their best weekly
gains in more than a year on Friday, as technology stocks helped
lift major indexes to records.
    In Southeast Asia, with earnings season coming around, there
is positive expectation for first-quarter earnings, said Joel
Ng, an analyst at KGI Securities in Singapore.
    Thai shares rose as much as 0.7 percent to hit a
record high, and were on track for a fifth session of gains.
    Financials and industrial stocks gained, with Kasikornbank
PCL up 1.2 percent and Airports of Thailand PCL
 climbing 3.1 percent.
    Singapore climbed to its highest in nearly 32 months,
driven by financial and industrial stocks.
    Real estate firm CapitaLand Ltd rose 1.9 percent,
while Jardine Strategic Holdings Ltd gained 0.8
percent.
    The Malaysian index rose to its highest since May
2015, as energy stocks such as Petronas Gas Bhd
climbed on firmer global oil prices.
    Philippines extended gains into a fourth straight
session, led by consumer cyclicals, with SM Investments Corp
 up 2.2 percent.
    Vietnam, however, fell 0.1 percent, dragged down by
consumer staples and energy stocks.
    Index heavyweight Petrovietnam Gas Joint Stock Corp
fell as much as 1.4 percent.
    A widespread crackdown on fraud and mismanagement in the
energy and banking sectors has gathered pace in the country,
with 22 executives put on trial over losses at the state oil
firm on Monday.
    
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SOUTHEAST ASIAN STOCK MARKETS
    
 Change as of 0410 GMT                             
 Market                 Current   previous close  Pct Move
 Singapore              3497.09   3489.45         0.22
 Bangkok                1804.21   1795.45         0.49
 Manila                 8773.25   8770            0.04
 Jakarta                6364.734  6353.738        0.17
 Kuala Lumpur           1824.41   1817.97         0.35
 Ho Chi Minh            1011.62   1012.65         -0.10
                                                   
 Change on year                                    
 Market                 Current   End 2017        Pct Move
 Singapore              3497.09   3402.92         2.77
 Bangkok                1804.21   1753.71         2.88
 Manila                 8773.25   8558.42         2.5
 Jakarta                6364.734  6355.654        0.14
 Kuala Lumpur           1824.41   1796.81         1.54
 Ho Chi Minh            1011.62   984.24          2.78
 
   

 (Reporting by Sandhya Sampath; Editing by Biju Dwarakanath)
  
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