July 25, 2018 / 4:31 AM / 10 months ago

SE Asia Stocks-Rise on Wall Street gains, talk of China fiscal reforms

    * Philippine shares jump to 6-week high 
    * Thai stocks up for 5th session in six

    By Syed Saif Hussain Naqvi
    July 25 (Reuters) - Most Southeast Asian stock markets rose
on Wednesday, tracking broader Asia on strong Wall Street
earnings and anticipation that China will support growth in its
economy through new fiscal policy measures.
    Overnight on Wall Street, the S&P 500 closed at its
highest level since Feb. 1 following a surge in Alphabet Inc
    "If there are any technical rallies based on U.S. flows and
strong second quarter, I think there is a good chance for
investors to sell into their strengths into that rally in a more
defensive portfolio," KGI Securities analyst Joel Ng said.
    Markets in Southeast Asia cheered China's potential fiscal
move, with Asia shares ex-Japan rising for a
second straight session.
    China will adopt fiscal policy measures, including cutting
taxes for companies and speeding up local governments' special
bond issuance, to help tackle external uncertainties without
resorting to strong policy stimulus, state radio said on Monday.

    On the trade front, focus was on talks between U.S.
President Donald Trump and European Commission President
Jean-Claude Juncker set later on Wednesday.
    Philippine shares continued their upward momentum
from Tuesday, rising as much as 1.8 percent to a six-week high,
with all sectors in positive territory.
    Financials accounted for more than half of the gains, with
BDO Unibank rising 2.3 percent and SM Investments Corp
 adding 1.7 percent.
    Singapore shares gained on the back of financials.
Oversea-Chinese Banking Corp, United Overseas Bank
 and DBS Group Holdings climbed between 0.8
percent and 2.7 percent.
    Malaysian shares rose for a third straight session,
as gains in utilities and financials offset losses in consumer
staples and consumer discretionary stocks.
    Electricity provider Tenaga Nasional rose 0.8
percent and Maybank BHD gained 0.4 percent. They were
the biggest boost to the index.
    Thai shares were headed for a fifth session of gains
in six, helped by energy stocks. 
    PTT Pcl and PTT Exploration And Production Pcl
 gained 0.5 percent and 0.76 percent respectively, on
higher oil prices.
    Oil prices rose on data showing U.S. crude stockpiles fell
more than expected last week, easing worries about oversupply.

    Indonesian shares edged higher as gains in energy
and material sectors offset losses in telecommunication and
consumer staple stocks. 
For Asian Companies click;  

  Change on the                                    
  Market          Current      Previous    Pct Move
  Singapore       3319.92      3292.65     0.83
  Bangkok         1688.96      1674.22     0.88
  Manila          7576.95      7447.02     1.74
  Jakarta         5937.76      5931.842    0.10
  Kuala Lumpur    1764.71      1762.93     0.10
 Ho Chi Minh      931.91       934.08      -0.23
  Change on year                           
  Market          Current      End-2017    Pct Move
  Singapore       3319.92      3402.92     -2.44
  Bangkok         1688.96      1753.71     -3.69
  Manila          7576.95      8558.42     -11.47
  Jakarta         5937.76      6355.654    -6.58
  Kuala Lumpur    1764.71      1796.81     -1.79
  Ho Chi Minh     931.91       984.24      -5.32

 (Reporting by Syed Saif Hussain Naqvi in Bengaluru; Editing by
Subhranshu Sahu)
Nuestros Estándares:Los principios Thomson Reuters
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