November 1, 2017 / 4:31 AM / 2 months ago

SE Asia Stocks-Singapore hits over 2-yr high; Indonesia extends gain

    By Devika Syamnath
    Nov 1 (Reuters) - Singapore shares hit their highest in more
than two years on Wednesday with financials driving the rise,
while Indonesia extended gains into a second session on stronger
crude oil prices and foreign fund inflows.
    Singapore's FTSE Straits Times Index rose as much as
0.6 percent to its highest since late May 2015.
    DBS Group, the city-state's top lender, was the
biggest boost with a jump of 1.2 percent, while oil-rig builder
Keppel Corp rose as much as 2 percent to its highest
in over two years. 
    Brent crude prices were near two-year highs as OPEC has
significantly improved compliance with its pledged supply cuts
and Russia is also seen keeping to the deal.
    Indonesia's Jakarta IDX Composite Index rose as much
as 0.4 percent with energy and financial stocks leading the
gains.
    "We expect market to trend higher on the first trading day
of November, supported by foreign net buying and steady price
uptick of crude oil," said Taye Shim of Jakarta-based Mirae
Asset Sekuritas.
    Perusahaan Gas Negara (Persero) rose as much as
2.7 percent, while Bank Central Asia, the country's
largest lender, climbed up to 1.4 percent.
    Indonesia's annual inflation rate eased for a fourth
straight month in October, reaching its lowest level since
January, as price increases of some foods continued to slow.
  
    Thai shares fell as much as 0.2 percent before
recovering to trade marginally higher. 
    Siam Cement was the biggest drag, shedding as much
as 1.2 percent, ahead of its quarterly results later in the day,
while Airports of Thailand fell 1.3 percent.
    Thailand's annual main consumer price index rose for a
fourth straight month in October, slightly higher than
forecasts, but the rate was still below the central bank's
target, giving it room to keep monetary policy accommodative.

    Malaysian shares fell 0.2 percent, weighed down by
utilities and telecom stocks.
    Power generator Tenaga Nasional was the biggest
drag with a drop of 0.8 percent.
    Malaysia's manufacturing activity in October contracted the
most in three months due to an overall deterioration in business
conditions.
    The Philippine market remained closed on Wednesday
for a public holiday. 

For Asian Companies click;  

SOUTHEAST ASIAN STOCK MARKETS: AS AT 0336 GMT
  Market           Current       Previous     Pct Move
                                 close        
  Singapore        3385.79       3374.08      0.35
  Bangkok          1722.48       1721.37      0.06
  Jakarta          6019.187      6005.784     0.22
  Kuala Lumpur     1744.71       1747.92      -0.18
 Ho Chi Minh       839.26        837.28       0.24
                                              
  Change on year                              
  Market           Current       End 2016     Pct Move
  Singapore        3385.79       2880.76      17.53
  Bangkok          1722.48       1542.94      11.64
  Jakarta          6019.187      5296.711     13.64
  Kuala Lumpur     1744.71       1641.73      6.27
  Ho Chi Minh      839.26        664.87       26.23
 
 (Reporting by Devika Syamnath; Editing by Subhranshu Sahu)
  

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