SE Asia Stocks-Most gain tracking broader Asia; Philippines falls
* Asian shares ex-Japan up 1.3 pct
* Singapore up 1.3 pct after strong export data
* Malaysia, Indonesia set for fourth winning session
* Philippines falls 0.9 pct after two winning sessions
Feb 15 (Reuters) - Most Southeast Asian stock markets firmed
on Thursday, tracking broader Asia, with Singapore surging after
data showed a faster-than-expected growth in exports last month,
while the Philippines fell after two days of strong gains.
Asian stocks rose after Wall Street posted gains overnight,
brushing aside strong U.S. inflation data, while Treasury yields
jumped in anticipation of more rapid U.S. interest rate hikes.
MSCI's broadest index of Asia-Pacific shares outside Japan
was up 1.3 percent by 0400 GMT.
"People are starting to reassess, even with higher inflation
numbers, even with higher yields, as long as earnings growth
continues to be positive, it's enough to offset the higher
yields," said Joel Ng, a research analyst at KGI Securities in
Singapore.
Valuations in Asia especially are cheaper compared to U.S.
markets and a lot of companies have been raising dividends
lately, Ng added.
Singapore shares rose as much as 1.1 percent, boosted
by financials.
Oversea-Chinese Banking Corp Ltd climbed 4.1
percent, while United Overseas Bank Ltd rose 3.1
percent.
The city-state's annual non-oil domestic exports in January
surged 13 percent, beating analysts' 9 percent growth estimate,
as sales of petrochemical products jumped, suggesting broadening
domestic economic growth.
Malaysian shares rose as much as 0.4 percent, on
track to end higher for a fourth consecutive session, on the
back of gains in consumer staples and financials.
Palm oil producer Sime Darby Plantation Bhd
climbed 2 percent, while financial firm CIMB Group Holdings Bhd
gained 1.2 percent.
Indonesian stocks gained as much as 0.5 percent,
with materials and energy sectors rising on the back of strong
commodity prices.
Coal miner Adaro Energy Tbk PT rose 2.5 percent,
while nickel miner Vale Indonesia Tbk PT climbed 3.9
percent.
Meanwhile, Philippine shares fell as much as 0.9
percent, after gaining 1.3 percent over the last two sessions.
Telecom service provider PLDT Inc lost as much as
2.4 percent, while BDO Unibank Inc fell 1.3 percent.
Vietnam stock market was closed for a holiday.
For Asian Companies click;
SOUTHEAST ASIAN STOCK MARKETS: Change as at 0345 GMT
Market Current Previous close Pct Move
Singapore 3442.12 3402.86 1.15
Bangkok 1796.49 1792.09 0.25
Manila 8535.53 8598.11 -0.73
Jakarta 6602.772 6594.401 0.13
Kuala Lumpur 1840.72 1834.93 0.32
Change on year
Market Current End 2017 Pct Move
Singapore 3442.12 3402.92 1.15
Bangkok 1796.49 1753.71 2.44
Manila 8535.53 8558.42 -0.27
Jakarta 6602.772 6355.654 3.89
Kuala Lumpur 1840.72 1796.81 2.44
(Reporting by Nicole Pinto, additional reporting by Karthika
Suresh Namboothiri; Editing by Amrutha Gayathri)
