July 26, 2018 / 9:53 AM / a year ago

SE Asia Stocks-End higher; Philippines up for third straight session

    * Thai shares gain for 6th session in 7
    * Malaysia up for 4th straight session

    By Syed Saif Hussain Naqvi
    July 26 (Reuters) - Most Southeast Asian stock markets rose
on Thursday, with Philippines extending gains to a third
straight session, as negotiations between the United States and
Europe over reducing trade barriers calmed fears of a
transatlantic trade war.    
    Trade talks between the two sides included scrapping auto
tariffs on European carmakers, while also seeking to resolve
U.S. tariffs on steel and aluminium, among others

    Philippine shares ended over 2 percent higher, with
industrials and real estate stocks accounting for more than half
the index gains. SM Investments Corp and SM Prime
Holdings closed 3.9 percent and 3.3 percent higher,
    The Philippine central bank will resume cutting the reserve
requirement ratio next year, in line with its goal, and bring it
down to single digit levels, its governor said on Thursday.
    "The move would in a way spur economic growth for the
country since more funds are released into the system, but it
also adds inflationary concerns for the market" said AB Capital
Securities analyst Lexter Azurin.     
    "The reserve requirement for Philippines is quite high and
the move is basically to be in line with other financial
industries in the region" added Azurin      
    The finance-heavy Singapore benchmark ended slightly
higher, led by top lenders DBS Group Holdings, United
Overseas Bank and Oversea-Chinese Banking Corp
    Singapore's industrial production rose 7.4 percent in June,
led by gains in marine and offshore sector, data showed on
    The Thai index ended 0.7 percent higher, its sixth
session of gain in seven, on the back of energy and financials. 
    Siam Commercial Bank, up 1.9 percent, and PTT Pcl
, up 0.5 percent, were among the top contributors.    
    Malaysian shares ended marginally higher with gains
in utilities outweighing losses in telecommunication stocks. 
For Asian Companies click;  

 Change on the day                            
 Market             Current   Previous close  Pct Move
 Singapore          3328.6    3326.83         0.05
 Bangkok            1701.87   1690.08         0.70
 Manila             7665.85   7514            2.02
 Jakarta            5946.136  5933.889        0.21
 Kuala Lumpur       1766.23   1763.78         0.14
 Ho Chi Minh        930.16    927.58          0.28
 Change on year                               
 Market             Current   End 2017        Pct Move
 Singapore          3328.6    3402.92         -2.18
 Bangkok            1701.87   1753.71         -2.96
 Manila             7665.85   8558.42         -10.43
 Jakarta            5946.136  6355.654        -6.44
 Kuala Lumpur       1766.23   1796.81         -1.70
 Ho Chi Minh        930.16    984.24          -5.49

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