November 4, 2016 / 10:17 AM / 2 years ago

SE Asia Stocks-Philippines snaps 9-day losing streak

By Sandhya Sampath
    Nov 4 (Reuters) - Philippine shares snapped a nine-day
losing streak on Friday while Indonesia rose as energy stocks
gained, with investors in other markets keeping to the sidelines
on uncertainty over the outcome of the U.S. presidential
elections next week.
    Investors have generally seen Hillary Clinton as the
candidate who would maintain the status quo, while there is more
market uncertainty over what a Donald Trump presidency might
mean in terms of economic policy, free trade and geopolitics.
    The Philippine index ended 0.9 percent higher, led by
utilities and consumer cyclicals, with infrastructure group
Aboitiz Equity Ventures Inc gaining 3.1 percent and
conglomerate SM Investments Corp ending firmer by 0.6
    The index however fell 2.4 percent on the week, its second
straight weekly loss.
    "Investors are bargain hunting after the index declined for
nine sessions. I think we are just recovering from an oversold
condition," said Ralph Christian Bodollo, an equity research
analyst with RCBC Securities Inc.
    Singapore shares ended lower for the sixth straight
session, weighed down by telcos and industrials, with Starhub
Ltd closing down 2.5 percent. The index lost 1 percent
this week.
    Thai shares fell, dragged down by industrials and
consumer staples. The index lost 0.6 percent this week.
    Indonesian stocks ended 0.6 percent higher, led by
basic materials and energy, with Adaro Energy Tbk PT 
closing up 1.8 percent after the country raised its official
crude price. 
    The index lost 0.9 percent this week. 
    The Malaysian index closed marginally higher, but is
down 1.3 percent this week. 
    Vietnam, which ended marginally lower, has fallen 2.3
percent this week.
For Asian Companies click;  

  Change on day                                              
  Market               Current    Previous Close  Pct Move
  Singapore            2788.8     2802.08         -0.47
  Bangkok              1485.7     1493.08         -0.49
  Manila               7227.37    7160.91         0.93
  Jakarta              5362.66    5329.502        0.62
  Kuala Lumpur         1648.24    1648.08         0.01
  Ho Chi Minh          666.73     667.63          -0.13
  Change on year                                  
  Market               Current    End prev yr     Pct Move
  Singapore            2788.8     2882.73         -3.26
  Bangkok              1485.7     1288.02         15.35
  Manila               7227.37    6952.08         3.96
  Jakarta              5362.66    4593.008        16.76
  Kuala Lumpur         1648.24    1692.51         -2.62
  Ho Chi Minh          666.73     579.03          15.15
 (Reporting by Sandhya Sampath; Editing by Vyas Mohan)
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