29 de mayo de 2017 / 5:55 / hace 3 meses

SE Asia Stocks-Largely subdued; Philippines hits near 3-wk high

    By Chris Thomas
    May 29 (Reuters) - Philippine shares hit their highest in
nearly three weeks on Monday, helped by property stocks Ayala
Land Inc and SM Prime Holdings, while most
other Southeast Asian markets were little changed in thin trade
with the United States, Britain and China closed for holidays.
    Investors were on the sidelines as they wait for the China
PMI data due later in the week, said Victor Felix, an equity
analyst with Manila-based AB Capital Securities.
    Factory activity in China is expected to have grown at its
slowest pace in eight months, a Reuters poll showed, as previous
stimulus fades and policymakers focus on tackling rising debt -
a sign the cooldown in manufacturing will persist through
2017.
    Asian stocks excluding Japan were down about
0.2 percent after rising earlier in the day following gains on
the Wall Street, which hovered around record highs on Friday.

    Meanwhile, North Korea fired at least one short-range
ballistic missile earlier in the day that landed in the sea off
its east coast, the latest in a fast-paced series of missile
tests defying the world pressure and threats of more sanctions.
    
    Philippine shares rose to their highest since May 10
with Ayala Land climbing to its highest in more than nine months
and SM Prime Holdings hitting a record high.
    "Selective buying of property stocks is lifting the index,"
said Jeffrey Lucero, an equity research analyst with RCBC
Securities.
    "Last week, we were able to grab foreign buying of up to 1.3
billion pesos, and hopefully we will still see some signs of
foreign buying into this week."
    However, he warned that the market debut of Eagle Cement
Corp on Monday could drain liquidity from the PSEI
index. 
    Eagle Cement, the country's fourth largest cement producer, 
had announced plans in March to raise up to 9.2 billion pesos
($184.67 million) via an initial share sale in May.

    Indonesia, Thailand and Singapore
were slightly down, while Vietnam was up 0.5 percent,
hovering near a nine-year high, on the back of gains in energy
stocks.  
    
For Asian Companies click;  

SOUTHEAST ASIAN STOCK MARKETS: Change at 0512 GMT    
  Market          Current      Previous Close  Pct Move
  Singapore       3216.38      3219.42         -0.09
  Bangkok         1568.08      1569.27         -0.08
  Manila          7917.69      7867.49         0.64
  Jakarta         5705.718     5716.815        -0.19
  Kuala Lumpur    1772.75      1772.3          0.03
  Ho Chi Minh     746.95       743.41          0.48
                                               
  Change on year                               
  Market          Current      End 2016        Pct Move
  Singapore       3216.38      2880.76         11.65
  Bangkok         1568.08      1542.94         1.63
  Manila          7917.69      6840.64         15.74
  Jakarta         5705.718     5296.711        7.72
  Kuala Lumpur    1772.75      1641.73         7.98
  Ho Chi Minh     746.95       664.87          12.35
 
($1 = 49.8190 Philippine pesos)


 (Reporting by Chris Thomas; Additional reporting by Christina
Martin; Editing by Subhranshu Sahu)
  

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