May 27, 2016 / 5:21 AM / 2 years ago

SE Asia Stocks-Most up after U.S. data; investors await Yellen speech

By Aparajita Saxena
    May 27 (Reuters) - Southeast Asian stocks edged up on
Friday, in line with other markets in Asia after positive U.S.
data, while investors awaited revised U.S. first-quarter GDP
data and comments from Fed Chair Janet Yellen at an event later
in the day.
    MSCI's broadest index of Asia-Pacific shares outside Japan
 gained 0.2 percent to a two-week high, after
U.S. data on Thursday showed durable goods orders, pending home
sales and initial jobless claims coming in strong, while capital
goods orders and the Kansas City Fed manufacturing survey were
    Singapore's Straits Times Index was up 0.39 percent,
heading for its third session of gains, with financials leading
the rise.
    "The chances of a Fed rate hike are being supported by
economic data coming out of the United States and the market is
expecting a higher percentage of rate hike in June," a
Singapore-based analyst said.
    "The gains, therefore, are coming from financial stocks
which tend to gain from rate hikes. Other sectors are flattish
and will remain so as long as the scenario on the Fed rate hike
and Britain's exit of EU doesn't become clear in June."
    DBS Group Holdings was among the top percentage
gainers, with a rise of 1.11 percent, while UOB Holdings
 increased 0.72 percent.
    The Philippine index gave up earlier gains to trade
marginally lower at 7,374.66, led by power and energy sectors.
Earlier in the day, it rose as much as 0.7 percent with Globe
Telecom, the country's largest telecommunication
services provider, up 2.16 percent.
    "We expect a continuation of Thursday's correction to retest
initial support of 7,300," Regina Capital said in a note.
    Thailand rose for a fourth session, led by
healthcare stocks, while Indonesian shares oscillated
between gains and losses.
    "We expect the JCI today has the potential to ease on lack
of global catalysts and profit-taking in sectors that have
strengthened so far this week," BNI Securities said in a note.
For Asian Companies click; 
  STOCK MARKETS                                        
 Change at 0504                                        
  Market           Current       Previous     Pct Move
  Singapore        2784.15       2773.31      0.39
  Bangkok          1408          1401.64      0.45
  Manila           7374.66       7376.38      -0.02
  Jakarta          4792.526      4784.565     0.17
  Kuala Lumpur     1633.03       1631.09      0.12
  Ho Chi Minh      606.98        604.34       0.44
  Change on year                              
  Market           Current       End 2015     Pct Move
  Singapore        2784.15       2882.73      -3.42
  Bangkok          1408          1288.02      9.32
  Manila           7374.66       6952.08      6.08
  Jakarta          4792.526      4593.008     4.34
  Kuala Lumpur     1633.03       1692.51      -3.51
  Ho Chi Minh      606.98        579.03       4.83

 (Reporting by Aparajita Saxena; Editing by Subhranshu Sahu)
0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below