SE Asia Stocks-Singapore closes 1.6 pct higher; Philippines down
By Aparajita Saxena Sept 6 (Reuters) - Most Southeast Asian stocks rose on Tuesday, in line with Asian peers, with the Singapore index rising about 2 percent earlier in the day to hit a more than 1-month high, while Malaysia closed more than half a percent higher. Asian shares advanced on Tuesday, with MSCI's broadest index of Asia-Pacific shares outside Japan extending gains to 0.8 percent. The Singapore index hit its highest since July 28 before closing up 1.6 percent, with gains in energy stocks supporting the rally. Sembcorp Marine and Keppel Corp rose after Brent crude oil prices gained earlier in the day, before falling on receding hopes of imminent action to tackle a supply glut. Malaysian shares closed 0.7 percent higher, led by consumer cyclicals. A Reuters poll showed Malaysia's imports in July contracted 1.5 percent from a year earlier, after an 8.3 percent rise the previous month. Malaysia is set to announce its imports and exports data on Wednesday. Thailand was up 0.3 percent, led by industrials. Pipe manufacturer and distributor Wiik & Hoeglund PCL settled 12.8 percent higher. Philippine stocks however fell, as equities faced pressure following criticism of U.S. President Barack Obama by Philippines President Rodrigo Duterte that prompted Washington to call off a bilateral meeting. "The cancellation of the meeting between leaders of the Philippines and the U.S. has exacerbated selling pressure in the market," said Manny Cruz, an analyst with Asiasec Equities Inc in Manila. Financial stocks were among the biggest losers after the country's central bank governor Amando Tetangco said there was no strong need to change monetary policy. Conglomerate JG Summit Holdings was the biggest percentage loser, shedding 2.9 percent. Indonesia rose slightly on gains in healthcare stocks, while Vietnam closed marginally lower. For Asian Companies click; SOUTHEAST ASIAN STOCK MARKETS STOCK MARKETS Change on day Market Current Previous Pct Move Close Singapore 2896.55 2851.74 1.57 Bangkok 1496.9 1492.52 0.29 Manila 7719.18 7764.05 -0.58 Jakarta 5372.096 5356.954 0.28 Kuala Lumpur 1689.92 1678.08 0.71 Ho Chi Minh 663.9 664.55 -0.10 Change so far this year Market Current End 2015 Pct Move Singapore 2896.55 2882.73 0.48 Bangkok 1496.9 1288.02 16.22 Manila 7719.18 6952.08 11.03 Jakarta 5372.096 4593.008 16.96 Kuala Lumpur 1689.92 1692.51 -0.15 Ho Chi Minh 663.9 579.03 14.66 (Reporting by Aparajita Saxena in Bengaluru, Additional reporting by Sindhu Chandrasekaran; Editing by Biju Dwarakanath)
© Thomson Reuters 2016 All rights reserved.