January 5, 2017 / 5:20 AM / 2 years ago

SE Asia Stocks-Rise on Wall Street gains; Philippines hits near 2-mth high

By Ambar Warrick
    Jan 5 (Reuters) - Southeast Asian stock markets rose on
Thursday, following gains on Wall Street and buoyed by an
overnight bounce in crude oil prices.
    Sentiment was also boosted by a string of upbeat factory and
service sector surveys across the globe this week.
    U.S. shares ended higher on Wednesday even after minutes
from the Federal Reserve's December meeting showed concerns that
quicker economic growth under President-elect Donald Trump could
require faster interest rate hikes to ward off
    Crude prices rose nearly 2 percent overnight before dipping
in Asian trade on Thursday over doubts world producers would
fully deliver on promises to cut output. 
    MSCI's broadest index of Asia-Pacific stocks outside Japan
 was last up 0.9 percent. 
    Philippine shares rose as much as 1.7 percent to
their highest in nearly two months, bolstered by industrial and
financial stocks with SM Investments gaining 4.6 percent
to a seven-week high.
    Consumer prices rose to a two-year high in December due to
higher food and transport costs, in line with a Reuters poll,
but the full-year average inflation remained below the central
bank's target range, the statistics agency said on
    Singapore shares gained as much as 1.3 percent in
their biggest percentage rise in nearly two months, led by
financials and telcos.
    DBS Group Holdings, the island state's biggest
bank by market value, posted its sharpest intraday percentage
gain in nearly two months by adding 2.3 percent.    
    "Singapore has not performed well over the past few weeks as
compared to its regional peers," said Manny Cruz, an analyst
with Manila-based Asiasec Equities Inc.
    "Given the improvement in sentiment among Asian markets,
investors have started to look at certain sectors in Singaporean
    Thailand hit a 20-month high and was headed for its
eighth consecutive session of gains, while Vietnam fell
    For Asian Companies click;  

  Market          Current    Previous   Pct Move
  Singapore       2956.82    2921.31    1.22
  Bangkok         1573.59    1563.58    0.64
  Manila          7153.37    7030.95    1.70
  Jakarta         5322.831   5301.183   0.41
  Kuala Lumpur    1654.88    1647.47    0.45
  Ho Chi Minh     673.43     674.7      -0.19
  Change on year                        
  Market          Current    End 2016   Pct Move
  Singapore       2956.82    2880.76    2.64
  Bangkok         1573.59    1542.94    1.99
  Manila          7153.37    6840.64    4.60
  Jakarta         5322.831   5296.711   0.49
  Kuala Lumpur    1654.88    1641.73    0.80
  Ho Chi Minh     673.43     664.87     1.30
 (Reporting by Ambar Warrick; Additional reporting by Susan
Mathew; Editing by Subhranshu Sahu)
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