SE Asia Stocks-Indonesia hits record high, Philippines falls about 1 pct

Reuters
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By Devika Syamnath

Oct 26 (Reuters) - Indonesian shares hit an all-time high on

Thursday, helped by gains in PT Telekomunikasi Indonesia on

robust earnings, while Philippine stocks dropped nearly 1

percent to a more than three-week low.

The Jakarta Composite Index rose as much as 0.3

percent to 6,042.45, hitting a record high for a third straight

session. It has gained 2.2 percent so far this month in what

could be its ninth straight monthly gain, and about 14 percent

this year.

Telekomunikasi Indonesia (Persero) Tbk Perusahaan Perseroan

PT recovered from early falls and rose as much as 4.2

percent, after the country's largest telecommunications company

posted a 21.6 percent jump in its nine-month net profit.

Philippine shares fell as much as 0.9 percent to

their lowest since Oct. 2, declining for a fourth session in

five, with industrial and real estate stocks leading the fall.

SM Investments Corp was the biggest drag, shedding

as much as 1.7 percent, while BDO Unibank Inc fell 1.1

percent.

Among other Southeast Asian markets, Singapore

extended gains into a second session, with financial and

consumer stocks leading the rise.

The city-state's industrial production in September rose

better than expected due to continued growth in electronics,

data showed on Thursday.

Casino operator Genting Singapore PLC climbed 4.2

percent on Thursday, while lender DBS Group gained 0.5

percent.

Asian stocks barely changed, as Wall Street shares pulled

back from record highs, while the euro stretched gains ahead of

a European Central Bank meeting that could take a major step

away from its accommodative policy.

The ECB is all but certain to cut back on its bond-buying

stimulus, taking its biggest step yet in unwinding years of

loose monetary policy.

However, as low inflation remains a primary concern for the

bank, any reduction in monthly asset purchases would be expected

to come with an extension of the programme.

Thai markets were closed for the cremation of late King

Bhumibol Adulyadej.

For Asian Companies click;

SOUTHEAST ASIAN STOCK MARKETS

Change on day

Market Current Previous Pct Move

close

Singapore 3350.46 3343.88 0.20

Manila 8230.16 8303.35 -0.88

Jakarta 6028.249 6025.434 0.05

Kuala Lumpur 1736.3 1739.05 -0.16

Ho Chi Minh 829.67 830.69 -0.12

Change on year

Market Current End 2016 Pct Move

Singapore 3350.46 2880.76 16.30

Manila 8230.16 6840.64 20.31

Jakarta 6028.249 5296.711 13.81

Kuala Lumpur 1736.3 1641.73 5.76

Ho Chi Minh 829.67 664.87 24.79

(Reporting by Devika Syamnath in Bengaluru, Additional

reporting by Fransiska Nangoy in Jakarta; Editing by Subhranshu

Sahu)

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