January 28, 2019 / 4:10 AM / 6 months ago

SE Asia Stocks-Most rise after U.S. govt reopens; Philippines climbs 1 pct

    * Philippine shares hit an over 10-month high
    * Thai stocks head for 9 sessions of gains

    By Mensholong Lepcha
    Jan 28 (Reuters) - Most Southeast Asian stock markets rose
on Monday, with Philippines hitting a more than 10-month high,
as investors cheered an agreement to briefly end a historic U.S.
government shutdown that had rattled risk-sensitive assets.
    Philippine shares led the gains in Southeast Asia
with a jump of 1 percent after U.S. President Donald Trump
agreed on Friday to reopen the government after a 35-day partial
shutdown without getting the $5.7 billion he had demanded from
Congress for a border wall.
    The news also pushed broader Asian shares higher, with
MSCI's broadest index of Asia-Pacific shares outside Japan
 climbing 0.2 percent.
    However, Washington's move to end the longest U.S.
government shutdown may only be temporary, after Trump renewed
his vow to build a wall on the southern border with Mexico,
threatening to resume the shutdown on Feb. 15 if he does not get
what he wants.
    Markets, which are already grappling with heightened
concerns about slowing global growth and the still unresolved
Sino-U.S. trade war, could see volatility again if the shutdown
    Industrials and financials were among the top gainers in the
Philippines, with conglomerate Aboitiz Equity Ventures Inc
 and real estate heavyweight SM Investments Corp
climbing as much as 5.1 percent and 1.2 percent, respectively.
    One of the biggest factors for the gains in the Philippine
market is the quarterly GDP data, which was released last
Thursday, said Rachelle Cruz, a research analyst with AP
    Investors expect the country's central bank to ease monetary
policies after data showed the economy grew slower than expected
in the fourth quarter of 2018.
    "The central bank announced its intention to increase
liquidity in the system by reserve ratio cut," said Cruz. 
    "We are expecting another 2 percent cut for the reserve
ratio this year, which will flood the market with almost 200
billion pesos."
    Singapore shares rose as much as 0.5 percent, driven
by technology and financials stocks.
    The FTSE Strait Times index was headed for a third straight
session of gains, ahead of corporate results by many big
    Venture Corp climbed as much as 2.3 percent, while
Oversea-Chinese Banking Corp gained up to 1.3 percent.
    Thai shares were on track for a ninth straight
session of gains, helped by industrial and energy stocks.
Bangkok Expressway and Metro PCL gained as much as 1
percent, while Energy Absolute climbed up to 1.6

For Asian Companies click;  

 Market                 Current   Previous close  Pct Move
 Singapore              3207.08   3202.25         0.15
 Bangkok                1628.91   1623.62         0.33
 Manila                 8127.7    8053.2          0.93
 Jakarta                6484.887  6482.843        0.03
 Kuala Lumpur           1698.06   1701.03         -0.17
 Ho Chi Minh            911.11    908.88          0.25
 Change so far in 2019                            
 Market                 Current   End 2018        Pct Move
 Singapore              3207.08   3068.76         4.51
 Bangkok                1628.91   1563.88         4.16
 Manila                 8127.7    7,466.02        8.86
 Jakarta                6484.887  6,194.50        4.69
 Kuala Lumpur           1698.06   1690.58         0.44
 Ho Chi Minh            911.11    892.54          2.08
 (Reporting by Mensholong Lepcha; Editing by Subhranshu Sahu)
Nuestros Estándares:Los principios Thomson Reuters
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