October 17, 2018 / 10:06 AM / 4 months ago

SE Asia Stocks-Rise with Wall St tide; Philippines extends gains

    * Philippines top pct gainer in region, closes 1.6 pct
higher
    * Indonesian stocks hit two-week closing high

    By Rashmi Ashok
    Oct 17 (Reuters) - Most Southeast Asian stock markets closed
sharply higher on Wednesday, as strong overnight gains on Wall
Street boosted Asian equities across the board.
    U.S. stocks surged more than 2 percent on Tuesday after
upbeat earnings reports from major companies and solid economic
data, boosting Asian shares on Wednesday. MSCI's broadest index
of Asian stocks outside Japan gained 0.5
percent.
    Philippine stocks closed 1.6 percent higher,
extending gains to a second day, as a sell-off in equities last
week turned valuations more attractive, boosting bargain buying.
    Lender BDO Unibank Inc rose nearly 3.7 percent to
an over one-week high, while conglomerate Ayala Corp
gained 1.6 percent.
    Singapore shares ended 1.2 percent higher, recouping
some of the losses over the last two sessions.
    Oversea-Chinese Banking Corp climbed 1.7 percent
and industrial conglomerate Jardine Matheson Holdings Ltd
 gained 0.9 percent.
    "As valuations remain attractive in Singapore, it's not
surprising to find bargain hunting after the recent selloff,"
said Liu Jinshu, director of research at NRA Capital.
    The index was further boosted by upbeat data on non-oil
domestic exports growth, which accelerated in September helped
by a surge in pharmaceutical shipments.
    Malaysian stocks were boosted by hotel operator
Genting Malaysia Berhad, which gained over 3 percent.
Telecom service provider Digi.Com Berhad rose 1.4
percent and was among top gainers after it posted growth in
quarterly earnings.
    Indonesian equities climbed 1.2 percent to a
two-week closing high, boosted by gains in telecom and material
stocks. PT Telekomunikasi Indonesia Tbk gained 3.2
percent and mobile phone service provider PT XL Axiata Tbk
 added 1.4 percent.
    However, Thai shares finished 0.2 percent lower,
erasing gains earlier in the session. 
    Airport operator Airports of Thailand PCL fell 1.2
percent and telecom service provider Advanced Info Service PCL
 lost 0.8 percent.
    Vietnamese stocks notched gains across all sectors,
boosted by real-estate and banking stocks, and closed 0.9
percent higher.
    
For Asian Companies click;  

SOUTHEAST ASIAN STOCK MARKETS 
  Market           Current       Previous close  Pct Move
  Singapore        3071.1        3034.31         1.21
  Bangkok          1695.04       1697.87         -0.17
  Manila           7099.68       6987.02         1.61
  Jakarta          5868.62       5800.817        1.17
  Kuala Lumpur     1740.59       1736.84         0.22
  Ho Chi Minh      971.6         963.37          0.85
                                                 
  Change on year                                 
  Market           Current       End 2017        Pct Move
  Singapore        3071.1        3402.92         -9.75
  Bangkok          1695.04       1753.71         -3.35
  Manila           7099.68       8558.42         -17.04
  Jakarta          5868.62       6355.654        -7.66
  Kuala Lumpur     1740.59       1796.81         -3.13
  Ho Chi Minh      971.6         984.24          -1.28
 

 (Reporting by Rashmi Ashok; Editing by Amrutha Gayathri)
  
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