September 6, 2016 / 10:07 AM / 2 years ago

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
    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;  

  STOCK MARKETS                                                
  Change on day                                                
  Market                   Current       Previous     Pct Move
  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)
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