February 26, 2018 / 4:32 AM / 8 months ago

SE Asia Stocks-Vietnam rises; Philippines hits over 2-month low

    * Markets await key economic data
    * Philippines on track for 4th straight session of losses

    By Ambar Warrick
    Feb 26 (Reuters) - Vietnam shares shot up more than 2
percent while most other Southeast Asian stock markets treaded
water ahead of a data-heavy week led by U.S. inflation figures
and the First House testimony by the new head of the Federal
Reserve.
    U.S. inflation data, expected later in the week, could set
the tone for the Fed's take on rate hikes for the year, while
the spotlight will also be on the new Fed chair Jerome Powell
when he faces questions from both houses of the U.S. Congress in
semi-annual testimony starting Tuesday.
    Vietnam index rose as much as 2.2 percent to a near
4-week high on broad-based gains, with financials and real
estate stocks in the lead.
    Fiachra Mac Cana, head of research at Ho CHi Minh
Securities, said stocks were rising in line with a strong finish
from Wall Street, which rallied on Friday following a retreat in
Treasury yields.
    Joint Stock Commercial Bank For Foreign Trade of Vietnam
 hit a record high, while property developer Vingroup
 rose 2.2 percent.
    Singapore shares were also higher, helped by
financials and industrials stocks. United Overseas Bank
 rose more than 1 percent to a record high, while
industrial conglomerate Jardine Strategic Holdings
gained 2.4 percent.
    Industrial output data in the city state likely recovered in
January after an unexpected fall in December, according to a
Reuters poll. The data is expected later in the day.

    However, Philippine shares fell about 0.6 percent to
a 2-month low, dragged largely by industrials and real estate
stocks. Industrial conglomerate SM Investments fell
about 1.7 percent, while Ayala Land fell 2 percent to a
2-month low.
    The Philippine central bank is selling its dollar reserves
as a measure to manage excessive volatility driven by
speculation against the peso, which is hovering near 11-year
lows. The currency was also one of the worst performing among
its Asian peers for 2017.
    
    For Asian Companies click;  

SOUTHEAST ASIAN STOCK MARKETS
 STOCK MARKETS                               
 Change on the day                           
 Market             Current  Previous close  Pct Move
 Singapore          3547.97  3533.22         0.42
 Bangkok            1814.96  1808.06         0.38
 Manila             8432.19  8467.56         -0.42
 Jakarta            6606.64  6619.804        -0.2
 Kuala Lumpur       1861.94  1861.5          0.02
 Ho Chi Minh        1122.69  1102.85         1.8
                                             
 Change on year                              
 Market             Current  End 2017        Pct Move
 Singapore          3547.97  3402.92         4.26
 Bangkok            1814.96  1753.71         3.49
 Manila             8432.19  8558.42         -1.47
 Jakarta            6606.64  6355.654        3.95
 Kuala Lumpur       1861.94  1796.81         3.62
 Ho Chi Minh        1122.69  984.24          14.1
 
 (Reporting by Ambar Warrick in Bengaluru; Editing by Gopakumar
Warrier)
  
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