SE Asia Stocks-Philippines, Thailand set fresh records; Vietnam falls
Tuesday, January 16,2018AsemconnectVietnam - Philippine and Thai shares climbed to all-time highs on Tuesday, while most other Southeast Asian stock markets trod water in line with broader Asia as caution set in after the previous session's record-setting gains.
Industrial and real estate stocks led the gains, with heavyweight SM Investments Corp SM.PS gaining as much as 1.2 percent and JG Summit Holdings JGS.PS up 2.7 percent.
Typical market strength in the first month of the year and positive data suggest the Philippine market may gain another 100 points, said Eagle Equities President Joseph Roxas.
Robust investment inflows and trade deficit data reported last week signalled strength in the Philippine economy, while data released on Monday showed a 2 percent rise in November remittances from overseas Filipinos, a key driver of economic growth.
Thai shares .SETI rose as much as 0.5 percent to a record 1,831.45 mark, on track for a fourth straight gaining session, helped higher by energy and financial stocks.
Oil and gas firm PTT PTT.BK rose 2 percent to a record while Bank of Ayudhya BAY.BK soared as much as 8.2 percent.
However, trade in most other markets in the region were muted, with MSCI's broadest index of Asia-Pacific shares outside Japan .MIAPJ0000PUS up 0.4 percent after having hit an all-time peak on Monday.
Investors are awaiting key U.S. earnings and Wednesday's interest rate decision from the Bank of China, OCBC Treasury Research said in a note.
Consumer goods manufacturer Unilever Indonesia UNVR.JK and telecom Telekomunikasi Indonesia TLKM.JK climbed 0.7 percent each and led the gainers.
The city-state's biggest banks, DBS Group Holdings DBSM.SI and United Overseas Bank UOBH.SI, lost as much as 0.6 percent each, while CapitaLand Commercial Trust CACT.SI gained 1 percent.
Vietnam shares .VNI fell as much as 1 percent, on course to break a six-session gaining run, while Malaysia .KLSE shed 0.4 percent.
|
Current |
Previous close |
Pct Move |
Singapore |
3538.4 |
3536.41 |
0.06 |
Bangkok |
1830.43 |
1822.66 |
0.43 |
Manila |
8939.09 |
8857.72 |
0.92 |
Jakarta |
6407.581 |
6382.195 |
0.40 |
Kuala Lumpur |
1821.77 |
1825.91 |
-0.23 |
Ho Chi Minh |
1057.64 |
1063.47 |
-0.55 |
Change on year
|
Current |
End 2017 |
Pct Move |
Singapore |
3538.4 |
3402.92 |
3.98 |
Bangkok |
1830.43 |
1753.71 |
4.37 |
Manila |
8939.09 |
8558.42 |
4.45 |
Jakarta |
6407.581 |
6355.654 |
0.82 |
Kuala Lumpur |
1821.77 |
1796.81 |
1.39 |
Ho Chi Minh |
1057.64 |
984.24 |
7.46 |
Source: Reuters.com
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