SE Asia Stocks-Indonesian stocks rise on better GDP growth forecast

Reuters
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By Hanna Paul

Oct 20 (Reuters) - Southeast Asian stock markets largely

edged up on Friday, with Indonesia bouncing back from three

straight days of losses after the country's central bank said it

expected GDP would grow better than initially forecast.

Bank Indonesia, which held its benchmark rate

unchanged on Thursday, said economic growth would remain within

its 5.0-5.4 percent forecast in the year, but would be supported

by improved performance in trade, hospitality and manufacturing.

Indonesian shares rose 0.4 percent, led by

financials, and were headed for a third straight weekly

increase. Bank Central Asia was up 3 percent, while

Astra International Tbk climbed 2.2 percent.

A sub-index of the 45 most liquid stocks gained as

much as 0.8 percent.

Thai shares inched up 0.3 percent, led by

industrials and consumer discretionary stocks. Aiports of

Thailand and Home Product Center were the

best performers on the index.

The Vietnam index rose as much as 0.6 percent, led by

industrials.

Philippine shares lost as much as 0.8 percent on

profit-taking, and were headed for a second weekly loss in

seven.

"If you look at the valuation of the Philippine market, it's

more or less expensive compared to regional peers," said Manny

Cruz, an analyst with Asiasec Equities Inc.

"The market is getting closer to 21 times forward PE for

2018 as against 17 times for regional counterparts like

Indonesia, Thailand and Vietnam. We see some profit-taking as

the market scaled to new highs," Cruz said.

The index hit a record high on Tuesday.

For Asian Companies click;

SOUTHEAST ASIAN STOCK MARKETS : CHANGE AS OF 0403 GMT

Change on day

Market Current previous Pct

close Move

Singapore 3340.41 3334.91 0.16

Bangkok 1687.92 1683.43 0.27

Manila 8425.18 8487.37 -0.73

Jakarta 5935.057 5910.53 0.41

Kuala Lumpur 1743.37 1743.99 -0.04

Ho Chi Minh 831.58 828.93 0.32

Change on year

Market Current End 2016 Pct

Move

Singapore 3340.41 2880.76 15.96

Bangkok 1687.92 1542.94 9.40

Manila 8425.18 6840.64 23.2

Jakarta 5935.057 5296.711 12.05

Kuala Lumpur 1743.37 1641.73 6.19

Ho Chi Minh 831.58 664.87 25.1

(Reporting by Hanna Paul; Editing by Biju Dwarakanath)

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