July 27, 2018 / 10:05 AM / 2 months ago

SE Asia Stocks-Most rise; Philippines posts biggest weekly gain in over 1-1/2 yrs

    * Indonesia rises for 6th straight session
    * Philippines up for 4th consecutive day 

    By Syed Saif Hussain Naqvi
    July 27 (Reuters) - Most Southeast Asian stock markets ended
higher on Friday tracking broader Asia, with the Philippines
marking its highest weekly close in more than 1-1/2 years, but
gains were limited as lingering U.S.-Sino trade tensions kept
investors watchful. 

    All eyes are on U.S. second-quarter GDP figures due later in
the day. The U.S. economy likely sustained a GDP growth of 4.1
percent in the quarter just ended, according to a Reuters poll.

    "Strong U.S. data would be negative for emerging markets as
it could signal more interest rate hikes from the Fed and if
data turns out to be better than expected, it could lead to
outflows from emerging markets" said Charles William Ang,
associate analyst at COL Financial Group, Inc. 
    Philippine shares reversed course to end 0.5 percent
higher. The index finished the week 4.1 percent firmer, its
highest weekly close since Jan 2017. 
    Real estate and consumer discretionary stocks led the gains,
with SM Prime Holdings and Jollibee Foods Corp
 gaining 1.5 percent and 3.8 percent respectively.
    Indonesian shares followed suit to end 0.7 percent
higher, led by consumer discretionary stocks. The index gained
1.9 percent during the week.  
    Conglomerate Astra International Tbk Pt, up 4.5
percent, was the top gainer, after reporting an 11 percent
growth in first-half net income on Thursday.
    Malaysian shares rose on the back of utilities and
ended the week 0.8 percent higher, their third consecutive
weekly gain.
    Petronas Gas BHD and Axiata Group BHD
were top contributors to the benchmark. 
    Singapore shares ended 0.1 percent lower, dragged by
industrial stocks. The index, however, marked its third
consecutive weekly gain.  
    Shares of Singapore Airlines fell 5.4 percent to a
three-week closing low after the carrier posted a 59 percent
drop in first-quarter profit.
    The Thailand stock market was closed on Friday for a
local holiday  
    

For Asian Companies click;  

SOUTHEAST ASIAN STOCK MARKETS
  Change on the                                    
 day                                       
  Market          Current      Previous    Pct Move
                               close       
  Singapore       3324.98      3328.6      -0.11
  Manila          7701.38      7665.85     0.46
  Jakarta         5989.136     5946.136    0.72
  Kuala Lumpur    1769.14      1766.23     0.16
 Ho Chi Minh      935.52       930.16      0.58
                                           
  Change on year                           
  Market          Current      End 2017    Pct Move
  Singapore       3324.98      3402.92     -2.29
  Manila          7701.38      8558.42     -10.01
  Jakarta         5989.136     6355.654    -5.77
  Kuala Lumpur    1769.14      1796.81     -1.54
  Ho Chi Minh     935.52       984.24      -4.95
 


 (Reporting by Syed Saif Hussain Naqvi in Bengaluru)
  
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