SE Asia Stocks-Philippines jumps on Duterte poll win; S'pore falls

martes 10 de mayo de 2016 06:32 GYT
 

May 10 (Reuters) - Most Southeast Asian stocks closed higher
on Tuesday with the Philippine index gaining its most in over
three months after maverick mayor Rodrigo Duterte emerged as the
country's next president, ending the uncertainty over the
elections.
    The Philippine stock index jumped 2.6 percent after
falling as much as 0.7 percent in early trading. 
    "Philippine stocks were down earlier in the day on
uncertainty over the presidential elections ... but then by
mid-day, Duterte's rivals had conceded and he emerged as the
clear winner," Maybank ATR Kim Eng analyst Luz Lorenzo said.    
    There were also no allegations of foul play against Duterte
and these gave investors the belief that the transition of the
new government would be smooth, Lorenzo said.
    The Philippine presidential elections had weighed on
investor sentiments as the rough-talking Duterte had been very
vague on what he would do to spur the economy, creating
uncertainty in the stock markets. 
    The Philippine index had fallen 2.3 percent last week.
    Duterte's comments so far, including easing foreign
ownership limits, have allowed investors to give him the benefit
of doubt for now, Maybank wrote in a note to clients. 
    Financials and Industrials led the rally with SM Prime
Holdings touching its life-time high. Bloomberry
Resorts rose more than 6 percent.
    Singapore fell 0.9 percent, wiping out most of its
gains on Monday, and remained the worst performing index in the
region.
    The index has fallen 11 out of the last 12 sessions, taking
year-to-date losses to nearly 5 percent.
    Golden Agri-Resources fell nearly 4 percent, while
Wilmar International ended the day down 2.3 percent.
    The Thai SET index was down 0.3 percent led by
financials, industrials and energy stocks, with Bangkok Bank
 losing 2.7 percent and Thai Airways International
 falling 3.8 percent.
        
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  STOCK MARKETS                                                
  Change on the day                                            
  Market                   Current       prev close   Pct Move
  Singapore                2741.15       2766.06      -0.90
  Bangkok                  1390.13       1394.14      -0.29
  Manila                   7174.88       6991.87      2.62
  Jakarta                  4763.115      4749.315     0.29
  Kuala Lumpur             1635.84       1632.19      0.22
  Ho Chi Minh              605.05        603.85       0.20
                                                      
  Change so far this year                             
  Market                   Current       End prev yr  Pct Move
  Singapore                2741.15       2882.73      -4.91
  Bangkok                  1390.13       1288.02      7.93
  Manila                   7174.88       6952.08      3.20
  Jakarta                  4763.115      4593.008     3.70
  Kuala Lumpur             1635.84       1692.51      -3.35
  Ho Chi Minh              605.05        579.03       4.49
 
 (Reporting by Renju Jose in Bengaluru; Editing by Biju
Dwarakanath and Gopakumar Warrier)