November 10, 2016 / 10:32 AM / 2 years ago

SE Asia Stocks-Higher; financial stocks gain across region

By Geo  Tharappel
    Nov 10 (Reuters) - Southeast Asian stocks closed higher on
Thursday led by financial shares, mirroring gains in broader
Asia and on Wall Steet overnight, as investors digested the
impact of Donald Trump's shock victory in the U.S. presidential
    In Asia, MSCI's broadest index of Asia-Pacific shares
outside Japan tracked Wall Street's rally to
bounce 2 percent.    
    Overnight in the U.S., the Dow jumped 1.4 percent,
while the S&P 500 and the Nasdaq both added 1.1
percent, as investors piled into financial and healthcare stocks
on hopes of weaker regulation than was expected from a Hillary
Clinton presidency. 
    "Regional markets are taking cues from the sharp rally in
the U.S. market that has improved sentiment on regional
equities," said Manny Cruz, chief strategist with Manila-based
Asiasec Equities Inc.
    Singapore topped the region with a 1.6 percent gain,
its biggest single-day percentage increase in two months, led by
financials and industrials.
    DBS Group Holdings Ltd closed 3.8 percent higher,
hitting a more than three-month high, while Oversea-Chinese
Banking Corp Ltd and United Overseas Bank Ltd 
 were up about 2 percent each.
    Offshore rig builder Keppel Corporation Ltd closed
1.9 percent higher.
    Vietnam rose 1.2 percent, its biggest percentage gain
in a month, led by financials and consumer staples.
    Vietcombank closed 1.2 percent higher, while
Vietnam Dairy Products JSC was up 0.7 percent.
    Philippines gained, led by financials.
    Metropolitan Bank and Trust Co ended 4.2 percent
higher, its biggest percentage jump in 10 weeks.
    Real estate stocks however lost ground over concerns the
business process outsourcing sector, which leads the office
properties market, may be hit if Trump follows through on his
election rhetoric.
    Ayala Land Inc and Megaworld Corp fell 0.4
percent and 0.8 percent, respectively.
    Thailand and Malaysia were up slightly,
while Indonesia closed 0.7 percent higher.
For Asian Companies click;  


  Change on day                                        
  Market           Current       prev close   Pct Move
  Singapore        2834.09       2789.88      1.58
  Bangkok          1514.26       1509.43      0.32
  Manila           7181.87       7119.04      0.88
  Jakarta          5450.306      5414.321     0.66
  Kuala Lumpur     1652.74       1647.62      0.31
  Ho Chi Minh      678.17        670.26       1.18
  Change on year                              
  Market           Current       End 2015     Pct Move
  Singapore        2834.09       2882.73      -1.69
  Bangkok          1514.26       1288.02      17.56
  Manila           7181.87       6952.08      3.31
  Jakarta          5450.306      4593.008     18.67
  Kuala Lumpur     1652.74       1692.51      -2.35
 Ho Chi Minh       678.17        579.03       17.12
 (Reporting by Geo Tharappel in Bengaluru; Editing by Biju
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