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SE Asia Stocks-Thailand rises for 10th session, hits 24-yr high
September 13, 2017 / 4:59 AM / 11 days ago

SE Asia Stocks-Thailand rises for 10th session, hits 24-yr high

    By Chris Thomas
    Sept 13 (Reuters) - Thai shares rose to their highest in
nearly 24 years on Wednesday, set for a 10th straight session of
gains, while most other Southeast Asian stock markets edged up
in tandem with Wall Street, which hit record highs overnight.
    The Thai index rose as much as 0.4 percent to levels
not seen since January 1994. Telecom company Advanced Info
Service Pcl and oil and gas refiner PTT Pcl
led the gains on the index, rising as much as 1.3 percent and
0.5 percent, respectively.
    On Wall Street, major indexes hit record closing highs, as
concerns over tensions between the United States and North Korea
eased and the financial impact from Hurricane Irma appeared less
severe than was feared last week.
    "Financial markets seem to have abruptly stopped worrying
about the end of the world, with stocks soaring again, bond
yields pushing higher, and safe haven currencies such as the JPY
selling off," ING analysts wrote in a note.
    Philippine shares rose as much as 0.7 percent to its
highest since Aug. 17, as trading resumed after a market
shutdown in the previous session on account of floods in the
region.
    Property developer Ayala Land was among the top
boosts to the index, climbing 1.4 percent to hit a near
seven-week high.
    "With the U.S. markets so strong, there is some degree of
mimicking of Wall Street," said Joseph Roxas, president of
Manila-based Eagle Equities Inc.
    The Philippine markets also lost a day of trade, so the
effect is more pronounced, he added.
    The country's trade deficit narrowed in July as exports
jumped and imports declined for a second straight month, a good
omen for economic growth in the third quarter, data showed on
Tuesday.
    Malaysian shares inched up to their highest since
June 19 in early trade, but pared the gains to trade marginally
lower.
    Vietnam shares climbed 0.6 percent, while the
Indonesian index rose slightly.
    Meanwhile, Singapore shares fell as much as 0.5
percent. Lender DBS Group Holdings and beer
manufacturer Thai Beverage drove the losses, slipping
0.7 percent and 1.1 percent, respectively. 
        
For Asian Companies click;

SOUTHEAST ASIAN STOCK MARKETS: Change at 0447
    
  Change on day                                            
  Market           Current       Previous Close   Pct Move
  Singapore        3228.11       3235.69          -0.23
  Bangkok          1649.78       1643.55          0.38
  Manila           8093.99       8049.31          0.56
  Jakarta          5880.353      5872.377         0.14
  Kuala Lumpur     1788.43       1789.86          -0.08
  Ho Chi Minh      801.66        799.94           0.22
                                                  
  Change on year                                  
  Market           Current       End 2016         Pct Move
  Singapore        3228.11       2880.76          12.06
  Bangkok          1649.78       1542.94          6.92
  Manila           8093.99       6840.64          18.32
  Jakarta          5880.353      5296.711         11.02
  Kuala Lumpur     1788.43       1641.73          8.94
  Ho Chi Minh      801.66        664.87           20.57
 
 (Reporting by Chris Thomas in Bengaluru; Editing by Amrutha
Gayathri)
  

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