February 6, 2017 / 10:18 AM / in a year

SE Asia Stocks-Largely up; Philippines outperforms ahead of cbank meeting

By Suhail Hassan Bhat
    Feb 6 (Reuters) - Most Southeast Asian stock markets rose on
Monday, with the Philippines gaining the most ahead of a
central bank policy meeting later this week where it is expected
to keep rates unchanged. 
    There has been little indication from the central bank that
any move on rates is forthcoming, DBS Group Research said in a
note, adding market expectations may change depending on cues
from policy statements. 
    Philippine shares rose nearly 1 percent on Monday, rising
for a second straight session, and have gained more than 6
percent this year, outperforming other regional markets.
    The Philippines underperformed other regional markets in the
second half of 2016, "so in the same respect when they bounced
back, we also bounced back more than others," said April
Lee-Tan, head of research at Manila-based COL Financial.
    Thai shares rose for the second straight session
with Kasikornbank Pcl hitting a three-month high.
    The Bank of Thailand is expected to keep one-day repurchase
rate unchanged at 1.50 percent at its first policy
meeting of the year on Wednesday. 
    The pressure on emerging markets has weakened as the dollar
is on a falling trend after President Donald Trump's comments on
currency devaluation by China, Japan and Germany, said Taye
Shim, head of research at Mirae Asset Sekuritas. 
    "Investors are going to take another look at emerging-market
assets," Shim said.
    The dollar fell on Monday after U.S. data showed a
smaller-than-expected rise in wages in January that reinforced
expectations the Federal Reserve will refrain from raising
interest rates next month.  
    Indonesian shares rose 0.7 percent, helped by
financials with Bank Mandiri (Persero) gaining 2.7
    Southeast Asia's biggest economy grew 4.94 percent on an
annual basis in the fourth quarter, compared with 5.01 percent
in the preceding quarter.        
    Singapore closed 0.5 percent higher, snapping two
consecutive sessions of losses. Index heavyweight DBS Group
Holdings gained 1.4 percent in heavy trading. 
For Asian Companies click;  

  Market         Current   Previous  Pct Move
  Singapore      3056.91   3041.94   0.49
  Bangkok        1589.13   1582.95   0.39
  Manila         7294.4    7226.7    0.94
  Jakarta        5395.995  5360.767  0.66
  Kuala Lumpur   1691.24   1685.01   0.37
  Ho Chi Minh    700.04    700.35    -0.04
  Change this                        
  Market         Current   End 2016  Pct Move
  Singapore      3056.91   2880.76   6.11
  Bangkok        1589.13   1542.94   2.99
  Manila         7294.4    6840.64   6.63
  Jakarta        5395.995  5296.711  1.87
  Kuala Lumpur   1691.24   1641.73   3.02
  Ho Chi Minh    700.04    664.87    5.29
 (Reporting by Suhail Hassan Bhat; Additional Reporting by
Sindhu Chandrasekaran; Editing by Subhranshu Sahu)
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