January 27, 2017 / 5:14 AM / a year ago

SE Asia Stocks-Steady tracking strong global markets; S'pore hits 15-mth high

By Hanna Paul
    Jan 27 (Reuters) - Southeast Asian stocks were steady on
Friday in thin trading, tracking a rally in broader global peers
on strong U.S. corporate earnings and an overnight surge in oil
    MSCI's world index, which tracks shares in
46 countries, hovered near record highs, cheered by a 2 percent
rise in oil prices and a rebound of the greenback from a
seven-week low. 
    U.S. President Donald Trump's pro-growth initiatives also
boosted sentiments. 
    "Everybody was a little nervous about what would happen
after the inauguration. They were sceptical, but nothing
happened. So we're back to the main trend, which is bullish,"
said Joseph Roxas, president of Manila-based Eagle Equities Inc.
    Singapore stocks were up as much as 0.44 percent, at
their highest level in 15 months, bolstered by financials and
real estate stocks.
    The city-state's industrial production in December grew at
the strongest pace in five years, raising the chances of an
upward revision to fourth-quarter growth. 
    "December manufacturing output surprised on the upside. We
had expected another month of good showing in the industrial
production index but the outcome is way above expectation," DBS
Group Research said in a note.
    One of southeast Asia's largest developers, CapitaLand Ltd
, was the top gainer, surging as much as 2.5 percent to
touch its highest in over a year, followed by City Developments
Ltd which rose 1.2 percent.
    Philippines was up as much as 0.46 percent, helped by
gains in financials and telecom stocks. 
    "Philippines is going to outperform this year, the first
after an election, because we always do well for at least the
first three years after the election," Roxas added.
    Metropolitan Bank and Trust Company and the
country's biggest telecom firm PLDT Inc were among the
biggest gainers.
    The Kuala Lumpur Stock Exchange was down 0.35
percent, with all sectors except industrials in the red ahead of
inflation data due on Feb 1.
    The world's largest palm oil company by land size, Sime
Darby, jumped as much as 5.1 percent to hit its
highest in 20 months.
    Indonesia was flat with telecom stocks offsetting
gains in financials.
    "The general tone is quiet in Indonesia because we are still
having uncertainties with regard to interest rates. It remains 
to be seen if they are going to tighten the monetary policy and
how inflation will turn out in the first quarter" said Dang
Maulida, an analyst with Jakarta-based Daewoo Securities.
    Vietnam is closed for a national holiday. 
For Asian Companies click;  

    Change on day
  Market             Current       Previous     Pct Move
  Singapore          3058.24       3051.78      0.21
  Bangkok            1588.93       1591         -0.13
  Manila             7347.87       7332.64      0.21
  Jakarta            5312.467      5317.633     -0.10
  Kuala Lumpur       1686.36       1692.22      -0.35
  Change this year                              
  Market             Current       End 2016     Pct Move
  Singapore          3058.24       2880.76      6.16
  Bangkok            1588.93       1542.94      2.98
  Manila             7347.87       6840.64      7.41
  Jakarta            5312.467      5296.711     0.30
  Kuala Lumpur       1686.36       1641.73      2.72
 (Reporting by Hanna Paul; Editing by Vyas Mohan)
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