By Chandini Monnappa
Dec 28 (Reuters) - Southeast Asian stock markets closed
firmer on Thursday as broader Asian shares scaled a decade high
on bets of a brighter outlook for the global economy and robust
commodity prices, with the Philippines and Indonesia climbing to
Philippine shares gained 0.5 percent in their fourth
straight winning session as data showing a narrower budget
deficit for November added to the positive sentiment. The
passage of a long-awaited tax reform plan by the Philippine
Congress, a credit ratings upgrade by Fitch, and faster economic
growth forecast by the World Bank had brought cheer to investors
Financials accounted for almost half the gains on the index,
with Metropolitan Bank and Trust Co closing at its
highest in more than four years, while Ayala Land
marked a near seven-week closing peak.
Vietnam shares rose to their highest close in more
than 10 years, firming nearly 1 percent, on gains across the
The top robusta producer's shipment of coffee beans in
December is expected to rise from a month earlier, the Vietnam
government said on Wednesday, in line with traders' forecasts.
Both Vinacafe Bien Hoa and Vietnam Dairy Products
JSC scaled record closes.
Indonesian shares marked a fresh record finish,
supported mainly by financials.
PT Bank Central Asia rose nearly 2 percent, while
PT Bank Danamon Indonesia closed 3.3 percent higher.
Singapore and Malaysia also firmed, aided
largely by banking stocks.
Singapore's top lender Oversea-Chinese Banking Corp
was the best performer on the index, closing 1 percent
up at its highest in two weeks.
Meanwhile, Thai stocks slipped 0.6 percent, snapping
four sessions of gains.
Furniture manufacturer Rockworth Pcl tumbled over
20 percent, while construction service provider EMC Pcl
dropped more than 11 percent.
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SOUTHEAST ASIAN STOCK MARKETS
Market Current Previous Close Pct Move
Singapore 3399.1 3391.67 0.22
Bangkok 1743.29 1752.89 -0.55
Manila 8535.09 8490.91 0.52
Jakarta 6314.046 6277.165 0.59
Kuala Lumpur 1779.1 1771.76 0.41
Ho Chi Minh 976.72 968.46 0.85
Change on year
Market Current End 2016 Pct Move
Singapore 3399.1 2880.76 17.99
Bangkok 1743.29 1542.94 12.98
Manila 8535.09 6840.64 24.77
Jakarta 6314.046 5296.711 19.21
Kuala Lumpur 1779.1 1641.73 8.37
Ho Chi Minh 976.72 664.87 46.90
(Reporting by Reporting by Chandini Monnappa in Bengaluru;
Editing by Amrutha Gayathri)