SE Asia Stocks - Philippines posts best gain in 14 months after Moody's upgrade

viernes 12 de diciembre de 2014 06:29 GYT

BANGKOK, Dec 12 (Reuters) - Philippine shares saw their
biggest gain in 14 months on Friday, erasing most of their
losses for the week, after a sovereign credit rating upgrade by
Moody's while most others in the region rebounded from the
previous day's falls.
    Moody's on Thursday upgraded its rating on the Philippines
by one notch to Baa2 from Baa3 with a stable outlook, citing a
decline in the country's debt burden and structural improvements
in fiscal management. 
     The Philippine index was up 2.2 percent, its biggest
single-day gain since October 2013, led by shares of BDO Unibank
 and Bank of the Philippine Islands, which were
among four banks whose long-term ratings Moody's also upgraded.
    The benchmark ended the week 0.1 percent lower.
    Other Southeast Asian markets were largely down for the week
on heavy selloffs in energy shares.
    Indonesia eked out a small gain, with a weekly loss
of 0.5 percent, and Singapore's Straits Times Index was
a tad higher, ending the week in negative territory, while
Vietnam gained 0.7 percent, down 4.3 percent on the week.
    Stocks in Thailand and Malaysia underperformed due to losses
in shares of oil and gas firms as Brent crude slipped on Friday
to below $63 a barrel, its lowest since July 2009. 
    The Thai SET index fell 0.8 percent, closing down
5.2 percent on the week, its worst performance since January.
Shares of PTT Exploration and Production, hit hard by
 tumbling oil prices, plunged 14.4 percent on the week.
    Malaysia's key index was down 0.7 percent on the
day, led by a 7.2 percent drop in shares of Sapurakencana
Petroleum. The index was down 0.9 percent on the week,
a second straight week of declines.
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 Change on day
 Market             Current     Prev Close    Pct Move
 Singapore          3324.13       3318.70       +0.16
 Kuala Lumpur       1732.99       1744.57       -0.66
 Bangkok            1514.95       1526.81       -0.78
 Jakarta            5160.43       5152.69       +0.15 
 Manila             7224.21       7072.10       +2.15 
 Ho Chi Minh         553.93        550.11       +0.69
 Change on year
 Market             Current       End 2013    Pct Move
 Singapore          3324.13       3167.43       +4.95
 Kuala Lumpur       1732.99       1866.96       -7.18 
 Bangkok            1514.95       1298.71      +16.65
 Jakarta            5160.43       4274.18      +20.73
 Manila             7224.21       5889.83      +22.66
 Ho Chi Minh         553.93        504.63       +9.77
 (Reporting by Viparat Jantraprap; Editing by Sunil Nair)