May 23, 2017 / 4:47 AM / a year ago

SE Asia Stocks-Steady; Philippine, Singapore hit 1-wk highs

    May 23 (Reuters) - Southeast Asian stocks held ground on
Tuesday, with Philippine and Singapore shares hitting one-week
highs, as markets consolidated recent gains in the absence of
fresh catalysts.
    MSCI's broadest index of Asia-Pacific shares outside Japan
 was up 0.21 percent at 0343 GMT, unaffected by
an explosion in the English city of Manchester that left at
least 19 people dead and over 50 injured.
    "Stocks had rallied quite a bit yesterday, so it makes sense
for them to see some consolidation today," said Joseph Roxas, an
analyst with Manila-based Eagle Equities.
    "Market reaction has been fairly muted in Asia in response
to the Manchester blast," said Khoon Goh, head of Asia research
at Australia and New Zealand Banking Group in Singapore. "At
this point, markets are not going into risk-aversion mode."
    Philippine shares were headed for a third session of
gains, helped by industrial and real estate stocks. Industrial
conglomerate SM Investments Corp hit a two-week high,
while property developer SM Prime Holdings Inc surged
to a record high.
    "President (Rodrigo) Duterte has gone on a visit to Russia,"
said Roxas. "These visits usually result in some good news for
the market, so stocks might be moving in anticipation of that."
    Singapore shares rose as much as 0.6 percent to their
highest since May 16, aided by as financial and industrial
stocks. Oversea-Chinese Banking Corp Ltd gained as
much as 1.2 percent, while Singapore Technologies Engineering
 clocked its biggest intraday percentage gain in over a
    Troubled commodity trader Noble Group suspended
trading of its shares on Tuesday following a 32 percent drop, as
S&P downgraded its long-term corporate credit ratings

For Asian Companies click;  

  Market           Current       previous     Pct Move
  Singapore        3229.35       3213.57      0.49
  Bangkok          1560.88       1557.73      0.20
  Manila           7845.49       7806.57      0.50
  Jakarta          5750.26       5749.445     0.01
  Kuala Lumpur     1771.48       1774.95      -0.20
 Ho Chi Minh       745.38        744.1        0.17
  Change so far                               
 this year                                    
  Market           Current       End prev yr  Pct Move
  Singapore        3229.35       2880.76      12.10
  Bangkok          1560.88       1542.94      1.16
  Manila           7845.49       6840.64      14.69
  Jakarta          5750.26       5296.711     8.56
  Kuala Lumpur     1771.48       1641.73      7.90
 Ho Chi Minh       745.38        664.87       12.11
 (Reporting by Ambar Warrick in Bengaluru; Additional reporting
by Nichola Saminather; Editing by Subhranshu Sahu)
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