SE Asia Stocks-Philippines closes at 9-mth high; S'pore, Thailand fall

miércoles 11 de mayo de 2016 06:24 GYT

May 11 (Reuters) - Most Southeast Asian stocks ended higher
on Wednesday, with Philippines closing at its highest since
August as investors were optimistic president-elect Rodrigo
Duterte would continue with pro-business economic policies that
are good for markets.
    Duterte has yet to detail his economic agenda but has said
he has no qualms about using some of Benigno Aquino's policies,
which have focused on infrastructure and improved fiscal
    It is not clear when Duterte's victory will be officially
declared but he is expected to take office on June 30.
    The Philippine index closed about 3 percent higher,
posting its biggest 2-day gain in nearly 3 years, led by
financial and industrial stocks.
    The Jakarta Composite Index (JCI) closed 0.8 percent
higher, its biggest daily gain in more than three weeks, led by
consumer staples and financial stocks.
    "We expect JCI to trend up higher as Japanese yen continued
to weaken and crude oil price rebounded," Taye Shim, analyst at
KDB Daewoo Indonesia said in a note on Wednesday.
    Singapore closed down 0.3 percent, dragged lower by
banking stocks. 
    DBS Group Holdings Ltd fell 0.9 percent and United
Overseas Bank Ltd fell 1 percent.
    The Thai SET Index fell 0.6 percent weighed down by
financials, after rising slightly in early trade. CP All Public
Company Ltd and Siam Commercial Bank lost
more than 2 percent each.
    MSCI's broadest index of Asia-Pacific shares outside Japan
 slipped 0.2 percent, resuming the recent
downtrend. The index has risen only one day in the last three
weeks and on Tuesday it hit an eight-week low. 
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  STOCK MARKETS                                                
  Change on the day                                            
  Market                   Current       previous     Pct Move
  Singapore                2732.87       2741.15      -0.30
  Bangkok                  1382.41       1390.13      -0.56
  Manila                   7396.52       7174.88      3.09
  Jakarta                  4799.964      4763.115     0.77
  Kuala Lumpur             1644.58       1635.84      0.53
  Ho Chi Minh              614.06        605.05       1.49
  Change so far this year                             
  Market                   Current       End prev yr  Pct Move
  Singapore                2732.87       2882.73      -5.20
  Bangkok                  1382.41       1288.02      7.33
  Manila                   7396.52       6952.08      6.39
  Jakarta                  4799.964      4593.008     4.51
  Kuala Lumpur             1644.58       1692.51      -2.83
  Ho Chi Minh              614.06        579.03       6.05

 (Reporting by Krishna V Kurup in Bengaluru; Editing by Biju