November 23, 2016 / 5:36 AM / 2 years ago

SE Asia Stocks-Singapore hits 1-mth high; Philippines falls for 3rd session

By Aparajita Saxena
    Nov 23 (Reuters) - Singapore stocks rose about half a
percent to a one-month high on Wednesday with financials leading
the gains after data showed the headline consumer price index
fell in October. 
    Oil and gas stocks held on to their gains from the previous
session as oil prices rallied in anticipation of an OPEC-led
production cut that is planned to be finalised by the end of the
    The city-state's big three banks, DBS Holdings 
United Overseas Bank Ltd and Oversea-Chinese Banking
Corp, rose between 0.7 and 1.2 percent, while rig
builder Sembcorp Marine Ltd climbed 3.19 percent.
    Thailand and Vietnam rose for a third
straight session, while other markets, including the Philippines
, were subdued in lacklustre trading after strong gains on
Wall Street led foreign investors dump risky emerging assets for
safer bets.
    "There's divergence right now between U.S. and emerging
markets. Capital flows are going back to the United States
because of the expected interest rate hike (by the U.S. Federal
Reserve), and Donald Trump's political agenda that is expected
to boost U.S. yields," said Ralph Bodollo, an equity research
analyst with RCBC Securities.
    Philippine shares fell 1.2 percent, heading for their third
straight session of declines, on selling by foreign investors,
analyst said. Real estate and financial stocks made up more than
two-thirds of the losses.
    Real-estate conglomerate and index heavyweight Ayala Land
Inc shed as much as 4.4 percent to its lowest in nearly
10 months, while property developer SM Prime Holdings 
fell 2.1 percent in its for fourth consecutive session of
    Malaysian shares slipped in thin trade, dragged down
by financials, ahead of a central bank policy meeting later in
the day where it is likely to leave benchmark interest rates
unchanged, a Reuters poll showed.
     Malayan Banking Bhd, Malaysia's biggest lender,
slipped 0.5 percent, on track for its second session of falls.
For Asian Companies click;  

  STOCK MARKETS                                              
  Market              Current       Previous Close  Pct Move
  Singapore           2836.59       2822.2          0.51
  Bangkok             1491.68       1485.68         0.40
  Manila              6722.31       6802.73         -1.18
  Jakarta             5192.536      5204.674        -0.23
  Kuala Lumpur        1624.34       1629.32         -0.31
  Ho Chi Minh         683.23        681.91          0.19
  Change this year                                  
  Market              Current       End 2015        Pct Move
  Singapore           2836.59       2882.73         -1.60
  Bangkok             1491.68       1288.02         15.81
  Manila              6722.31       6952.08         -3.31
  Jakarta             5192.536      4593.008        13.05
  Kuala Lumpur        1624.34       1692.51         -4.03
  Ho Chi Minh         683.23        579.03          18.00

 (Reporting by Aparajita Saxena in Bengaluru; Editing by
Subhranshu Sahu)
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