August 7, 2018 / 4:42 AM / 4 months ago

SE Asia Stocks-Singapore jumps 1.5 pct; Philippines down on higher inflation

    * Singapore posts biggest intraday pct gain in nearly 4
months
    * Vietnam poised to snap a three-session winning streak 

    By Karthika Suresh Namboothiri
    Aug 7 (Reuters) - Singapore shares jumped more than 1.5
percent on Tuesday boosted by strong financials, while
Philippine shares slipped on data showing annual inflation
quickened in July, cementing expectations for further policy
tightening this week. 
    Singapore shares jumped the most since April 18, helped by
gains in United Overseas Bank Ltd, which rose more
than 3 percent, and Oversea-Chinese Banking Corp,
which extended gains on upbeat corporate results.
    Philippine annual inflation accelerated in July and moved
away from the central bank's comfort range. Inflation quickened
to 5.7 percent, the fastest rise in over five years, due to
higher food and transport costs, and beat a Reuters' poll
estimate of 5.5 percent. 
    "Philippine markets are reacting to the inflation figure
that came at a new height, which basically disappointed
investors and raised concerns about an overheating economy,"
said Lexter Azurin, senior analyst, AB Capital Securities.    
    Manila's main index extended declines to a second
session, largely pulled down by losses in industrials. 
    SM Investments Corp dropped as much as 2.5 percent,
while Aboitiz Equity Ventures slipped up to 2.8
percent.
    Despite upbeat economic growth data, Indonesian shares
 shed previous session's gains to edge lower on Tuesday. 
    Southeast Asia's largest economy beat forecast and grew 5.27
percent from a year earlier in the second quarter, data showed
on Monday, still lagging behind the target of 7 percent that
President Joko Widodo set when he joined office in 2014.
    The biggest drags on the index were consumer goods company
Unilever Indonesia, which lost as much as 2.3 percent,
while Telekom Indonesia slipped more than 1.6 percent.
    An index of the country's 45 most liquid stocks
edged 0.6 percent lower.
    Malaysian shares climbed with IHH Healthcare
 rising up to 2.9 percent, while Vietnam stocks
were on track to snap three sessions of gains. 
    Thai shares edged lower with Kasikornbank
falling as much as 1.8 percent.
    
For Asian Companies click;  

SOUTHEAST ASIAN STOCK MARKETS AS AT 0431 GMT
 Market          Current   Previous close  Pct Move
 Singapore       3338.32   3285.34         1.61
 Bangkok         1693.89   1696.24         -0.14
 Manila          7747.47   7817.31         -0.89
 Jakarta         6087.359  6101.131        -0.23
 Kuala Lumpur    1787.59   1779.75         0.44
 Ho Chi Minh     956.1     960.23          -0.43
                                           
 Change on year                            
 Market          Current   End 2017        Pct Move
 Singapore       3338.32   3402.92         -1.90
 Bangkok         1693.89   1753.71         -3.41
 Manila          7747.47   8558.42         -9.48
 Jakarta         6087.359  6355.654        -4.22
 Kuala Lumpur    1787.59   1796.81         -0.51
 Ho Chi Minh     956.1     984.24          -2.86
 

 (Reporting by Karthika Suresh Namboothiri, Editing by Sherry
Jacob-Phillips)
  
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