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Mercados

SE Asia Stocks-Gain as solid China data fuels risk appetite; Philippines up

    * Philippine shares see best session in two weeks
    * Malaysia's Axiata jumps on stake-sale talks report
    * Thai shares close at near two-month high

    By Anushka Trivedi
    Jan 17 (Reuters) - Southeast Asian stock markets climbed on
Friday, with Philippine shares leading the pack, as encouraging
data from China whipped up risk appetite.
    China, Southeast Asia's largest trading partner, grew by 6%
in the fourth quarter, in line with market expectations,
suggesting the world's second-largest economy was stabilising.

    Data also showed that December's industrial output grew 6.9%
from a year earlier, the strongest pace in nine months, while
retail sales rose 8.0%. Fixed-asset investment for the full year
jumped 5.4%.
    "The latest slew of economic data suggests that the global
economy is stabilising and poised for a recovery amid
de-escalating U.S.-China trade tensions," Han Tan, market
analyst at FXTM, said in a note.
    "Such an environment should also offer emerging markets the
chance to find a more stable footing and provide room for
riskier assets to advance." 
    Philippine shares climbed 0.9% in their best session
in two weeks, with Jollibee Foods Corp topping the
benchmark index. The main index shed 0.7% for the week.
    Earlier in the day, Jollibee Foods said it raised $600
million from its first ever bond sale, which was upsized from an
original intended amount of $400 million due to strong demand.
 
    Malaysian equities advanced 0.5%, buoyed by
telecoms, and posted a weekly gain of 0.3%.
    Axiata shares jumped 5.5% in their best session in
more than eight months, after a report that Telenor ASA
was in talks with Malaysia's sovereign fund, which could result
in the Norwegian company buying a part of the fund's stake in
Axiata. 
    Thai shares scaled their highest in nearly two
months, driven by financial and telecom stocks.
    Kasikornbank Pcl gained 2.5% and Advanced Info
Service Pcl firmed 1.9%.
    Singapore shares were largely flat throughout the
session, with telecoms weighing on the benchmark index.
     The city-state's exports posted a surprise rebound in
December after nine months of contraction, partly boosted by a
sharp rise in pharmaceutical shipments.
    However, economists said further declines in electronics
exports did not yet indicate the recovery could be sustained.
    
        
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SOUTHEAST ASIAN STOCK MARKETS
    
 STOCK MARKETS                                    
 Change on the day                                
 Market                 Current   Previous close  Pct Move
 Singapore              3281.03   3278            0.09
 Bangkok                1600.48   1595.87         0.29
 Manila                 7722.58   7653.18         0.91
 Jakarta                6291.657  6286.048        0.09
 Kuala Lumpur           1595.81   1587.88         0.50
 Ho Chi Minh            978.96    974.31          0.48
                                                  
 Change so far in 2020                            
 Market                 Current   End 2019        Pct Move
 Singapore              3281.03   3222.83         1.81
 Bangkok                1600.48   1579.84         1.31
 Manila                 7722.58   7,815.26        -1.19
 Jakarta                6291.657  6,299.54        -0.13
 Kuala Lumpur           1595.81   1588.76         0.44
 Ho Chi Minh            978.96    960.99          1.87
 
 (Editing by Subhranshu Sahu)
  
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