January 3, 2019 / 4:37 AM / 3 months ago

SE Asia Stocks-Philippines jumps ahead of inflation data, Singapore slides

    * Shares in Singapore and Vietnam edge down
    * Philippine stocks top gainer in region
    * Expect Philippine Dec inflation slow to 6-month low- Poll

    By Rashmi Ashok
    Jan 3 (Reuters) - Most Southeast Asian shares climbed on
Thursday, with Philippine markets leading gains ahead of the
release of inflation figures, while Singaporean stocks bucked
the trend to fall sharply.
    Philippine stocks gained 1.04 percent, as industrial
shares SM Investments Corp and JG Summit Holdings Inc
 propelled the index.
    A Reuters poll shows that the country's inflation is
expected to cool to a six-month low in December, making it
likely the Philippine central bank will leave policy rates
unchanged this year.
    "The investors were mainly concerned about inflation during
2018," said Rachelle Cruz an analyst at AP Securities in Manila.
"So now we're seeing some buying in the index stocks as there's
better expectation on earnings growth now, since that concern
seems to be fading," Cruz said.
    Local investors appeared to be buying more because some
Philippine companies have reached "very attractive valuations,"
she added.
    A surge in consumer goods stocks powered a 0.4 percent
advance in Indonesian shares.
    Shares in Malaysia and Thailand also rose,
by 0.56 percent and 0.71 percent respectively.
    In Kuala Lumpur tourist resort chain Genting Malaysia Berhad
 added 2.7 percent and palm oil producer Sime Darby
Plantation Berhad rose 3.3 percent, while in Bangkok
energy stocks provided the biggest boost to the benchmark.
    Meanwhile, Singaporean shares edged 0.81 percent
lower, with Thai Beverage PCL dropping 3.3 percent and
industrial conglomerate Jardine Strategic Holdings Ltd
losing 1.4 percent.
    Vietnamese stocks also shed just above 0.8 percent,
with most major sectors in the red. Real-estate stocks like
Vinhomes JSC and Vingroup JSC, which powered a
rally on Wednesday, fell around 2 percent apiece.
    
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SOUTHEAST ASIAN STOCK MARKETS at 0315 GMT 
 Change on the day                               
 Market                 Current  Previous close  Pct Move
 Singapore              3018.83  3038.89         -0.66
 Bangkok                1572.84  1565.94         0.44
 Manila                 7567.08  7489.2          1.04
 Jakarta                6207.12  6181.175        0.42
 Kuala Lumpur           1678.01  1668.11         0.59
 Ho Chi Minh            884.05   891.75          -0.86
                                                 
 Change so far in 2019                           
 Market                 Current  End 2018        Pct Move
 Singapore              3018.83  3068.76         -1.63
 Bangkok                1572.84  1563.88         0.57
 Manila                 7567.08  7,466.02        1.35
 Jakarta                6207.12  6,194.50        0.20
 Kuala Lumpur           1678.01  1690.58         -0.74
 Ho Chi Minh            884.05   892.54          -0.95
 
 (Reporting by Rashmi Ashok in Bengaluru; Editing by Sai Sachin
Ravikumar)
  
Nuestros Estándares:Los principios Thomson Reuters
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