SE Asia Stocks-Philippines snaps 2 days of gains on profit-taking; Thai up

jueves 12 de mayo de 2016 06:22 GYT

By Shashwat Pradhan
    May 12 (Reuters) - Southeast Asian stocks mostly closed
higher on Thursday, but the Philippine index snapped two
sessions of gains on profit-taking on a day when its central
bank kept policy rates unchanged.
    Asian markets were down, with MSCI's broadest index of
Asia-Pacific shares outside Japan down 0.4
percent after Wall Street suffered its worst day since February
following downbeat quarterly retail reports 
    The Philippine stock index ended nearly 1 percent
lower on profit-taking, dragged down by financial and industrial
    The index rose 5.8 percent over the past two days after an
unofficial count of votes by an election commission-accredited
watchdog showed firebrand mayor Rodrigo Duterte had won Monday's
presidential election, ending months of uncertainty for
    The Philippine central bank kept its benchmark interest rate
steady at 4.0 percent on Thursday, with growth expected to stay
robust and inflation to remain subdued 
    Grace Aller at AP Securities in Manila said the Philippine
market was merely correcting after a strong rally in the past
two sessions.
    Aller said the price-to-earnings multiple, or P/E ratio, for
the index was high compared to peers, but the rally was evidence
that investors were using the opportunity to buy stocks cheap.
    The Thai SET Index rose more than 1 percent led by
energy and consumer stocks, with Thailand's largest meat and
feed producer, Charoen Pokphand Foods, rising as much
as 7.7 percent to its highest since Dec. 2014 following strong
    Singapore rose nearly half a percent, led by
financial and telecom stocks.
    Singapore Telecommunications, Southeast Asia's
largest telco, rose 1.3 percent after sources told Reuters the
company is considering listing its broadband unit in a deal that
could raise about $2 billion 
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  STOCK MARKETS                                        
  Change on the                                        
  Market           Current       previous     Pct Move
  Singapore        2745.39       2732.87      0.46
  Bangkok          1399.31       1382.41      1.22
  Manila           7325.04       7396.52      -0.97
  Jakarta          4803.32       4799.964     0.07
  Kuala Lumpur     1648.98       1644.58      0.27
  Ho Chi Minh      612.12        614.06       -0.32
  Change so far                               
 this year                                    
  Market           Current       End prev yr  Pct Move
  Singapore        2745.39       2882.73      -4.76
  Bangkok          1399.31       1288.02      8.64
  Manila           7325.04       6952.08      5.36
  Jakarta          4803.32       4593.008     4.58
  Kuala Lumpur     1648.98       1692.51      -2.57
  Ho Chi Minh      612.12        579.03       5.71

 (Reporting by Shashwat Pradhan; Editing by Sunil Nair)