SE Asia Stocks-End higher; Indonesia hits record closing high on banks

By Devika Syamnath

Oct 25 (Reuters) - Indonesian shares hit a record

closing high on Wednesday, marking a fresh peak for a second

straight session, led by financial stocks, while other Southeast

Asian stock markets rose tracking Asian peers and Wall Street

overnight.

Indonesia rose 1.2 percent to finish at 6,025.434,

with shares of Bank Mandiri (Persero) Tbk PT among the

top gainers on the index.

The Jakarta Composite Index has risen 2.1 percent so far in

the month, and around 14 percent this year.

"We are optimistic in banking industry as recovery of

Indonesia economy is expected to benefit the industry," said

Mirae Asset Sekuritas in a note.

Indonesia's central bank, which stood pat on rates last

week, said third-quarter GDP would grow faster than initially

expected.

Bank Mandiri posted a 25 percent jump in net income for the

first nine months of the year.

"We think there would be buying flow on BMRI as the

management guided for 40-45 percent dividend payout for 2017

(financial year) earnings," Mirae Asset Sekuritas said.

In other markets, Singapore rose 0.3 percent, with

financials accounting for a majority of the gains on the index.

DBS Group Holdings Ltd climbed 1.4 percent to hit

a nearly three-month high.

Thai shares edged up, led by real estate and

consumer discretionary stocks.

Carabao Group PCL soared 7.4 percent to touch a

record closing high, while U City PCL was the top gainer

on the index.

The Philippine index rose 0.3 percent, helped by

industrial stocks.

Index heavyweights SM Investments Corp rose 2.1

percent and JG Summit Holdings Inc ended 3.5 percent

higher.

In Asia, shares were up 0.2 percent as of

1043 GMT, while the Dow registered its biggest daily

percentage gain in more than one month on Tuesday.

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SOUTHEAST ASIAN STOCK MARKETS

Change on day

Market Current Previous Pct Move

close

Singapore 3343.88 3334.67 0.28

Bangkok 1708.84 1701.81 0.41

Manila 8303.35 8279.92 0.28

Jakarta 6025.434 5952.076 1.23

Kuala Lumpur 1739.05 1736.14 0.17

Ho Chi Minh 830.69 825.24 0.66

Change on year

Market Current End 2016 Pct Move

Singapore 3343.88 2880.76 16.08

Bangkok 1708.84 1542.94 10.75

Manila 8303.35 6840.64 21.38

Jakarta 6025.434 5296.711 13.76

Kuala Lumpur 1739.05 1641.73 5.93

Ho Chi Minh 830.69 664.87 24.94

(Reporting by Devika Syamnath in Bengaluru, Additional

reporting by Fransiska Nangoy in Jakarta; Editing by Biju

Dwarakanath)