October 18, 2016 / 6:01 AM / 2 years ago

SE Asia Stocks-Largely up as dollar weakens

By Susan Mathew
    Oct 18 (Reuters) - Most Southeast Asian stock markets rose
on Tuesday, with the Philippines rising 1 percent, as the dollar
weakened on profit-taking.
    The dollar fell against a basket of six major
currencies after recently strengthening as markets priced in
expectations for a Federal Reserve rate increase in December, a
growing headwind for emerging markets.
    "The dollar edging lower is a sigh of relief for Southeast
Asian markets during times when the Fed has been so hawkish,"
said Taye Shim, an analyst with Daewoo Indonesia.
    Investors also evaluated whether the Fed will let inflation
run above target before raising interest rates, and awaited U.S.
inflation data due later in the day for clues about the world's
largest economy. 
    Fed Vice Chairman Stanley Fischer said on Monday that
economic stability could be threatened by low interest rates,
but it was "not that simple" to raise rates. 
    MSCI's broadest index of Asia-Pacific shares outside Japan
 was up 0.81 percent, supported by gains in crude
oil prices as some analysts said markets might not be quite as
oversupplied as suggested by many. 
    Philippine shares rose for a second session in three,
with consumer cyclicals and financials leading the gains.  
Jollibee Foods Corp and property developer SM Prime
Holdings were among the biggest gainers.
    "We see some semblance of foreign buying given the notion
that the (President Rodrigo) Duterte government will bring in
investment from foreign trips," said Manny Cruz, an analyst with
Manila-based Asiasec Securities.
    Duterte goes to China on Tuesday with at least 200 members
of the Philippine business elite to pave the way for what he
calls a new commercial alliance, amid deteriorating ties with
longtime ally the United States 
    Indonesian shares extended gains for a third
consecutive session, driven by consumer cyclicals and basic
    Conglomerate Astra International Tbk PT rose 2.1
percent, while cement maker Semen Indonesia (Persero) Tbk PT
 was 1.3 percent higher.
    Thailand fell about 0.2 percent, heading for its
second straight sessions of falls.
For Asian Companies click;  

  Change at 0505                                        
  Market            Current       Previous     Pct Move
  Singapore         2818.68       2817.07      0.06
  Bangkok           1474.05       1477.34      -0.22
  Manila            7436.74       7358.21      1.07
  Jakarta           5439.236      5410.303     0.53
  Kuala Lumpur      1661.11       1653.71      0.45
  Ho Chi Minh       681.4         680.95       0.07
  Change on year                               
  Market            Current       End 2015     Pct Move
  Singapore         2818.68       2882.73      -2.22
  Bangkok           1474.05       1288.02      14.44
  Manila            7436.74       6952.08      6.97
  Jakarta           5439.236      4593.008     18.42
  Kuala Lumpur      1661.11       1692.51      -1.86
  Ho Chi Minh       681.4         579.03       17.68

 (Reporting by Susan Mathew; Editing by Subhranshu Sahu)
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