SE Asia Stocks-Philippines climbs most, Indonesia sheds early gains
* Philippine shares post fifth straight weekly gain
* Thai Jan inflation below central bank's target range
* Philippine, Thai cenbanks to review monetary policies next
week
By Mensholong Lepcha
Feb 1 (Reuters) - Philippine shares rose 1.7 percent on
Friday, helped by foreign investor buying and as the latest
round of Sino-U.S. trade talks kept hopes of a comprehensive
trade deal alive, while Indonesian stocks shed earlier gains to
close nearly flat.
The latest round of Sino-U.S. trade talks ended on a
positive note, with U.S. President Donald Trump saying he was
optimistic that the two nations could reach "the biggest deal
ever made."
The benchmark Philippine stock index was the biggest
gainer in the region, boosted by financials and industrials. BDO
Unibank climbed 3.7 percent and SM Investment Corp
added 2.5 percent. Philippine shares advanced 1.1
percent this week in their fifth consecutive weekly gain.
"Foreign buying in the Philippines has been consistent over
the last few weeks, and for today the biggest driver would be
foreign inflows towards emerging markets," said Charles William
Ang, an analyst with COL Financial Group.
Foreign investors bought net 1.02 billion pesos ($19.54
million) worth shares on Friday and 5.75 billion pesos this
week, according to Refinitiv data.
Investors now await January inflation data and the central
bank's monetary policy review due next week. Inflation had
cooled more than expected in December, reinforcing views that
the central bank is done raising interest rates.
Thai shares rose 0.6 percent on Friday, after data
showed January's headline inflation rate was below the central
bank's target range of 1-4 percent for a third straight month.
The central bank will review borrowing rates next week. The
central bank governor had said in January that the country's
accommodative monetary policy is still needed to support the
economy.
PTT gained 2 percent, while Airports of Thailand
climbed 1.5 percent.
Indonesian shares closed 0.1 percent higher after
rising as much as 0.8 percent earlier, as losses in telecom
stocks offset gains in financials. Indonesian shares gained 0.9
percent for the week, marking their sixth straight weekly rise.
Bank Rakyat Indonesia (Persero) rose 1.8 percent
to close at a record high, while Charoen Pokphand Indonesia
jumped 4.4 percent.
Indonesia's annual consumer inflation in January slowed more
than expected, data from the statistics bureau showed.
The Malaysian stock market was closed for a holiday.
($1 = 52.2100 Philippine pesos)
For Asian Companies click;
SOUTHEAST ASIAN STOCK MARKETS
Change on the day
Market Current Previous close Pct Move
Singapore 3188.68 3190.17 -0.05
Bangkok 1651.4 1641.73 0.59
Manila 8144.16 8007.48 1.71
Jakarta 6538.638 6532.969 0.09
Ho Chi Minh 908.67 910.65 -0.22
Change so far in 2019
Market Current End 2018 Pct Move
Singapore 3188.68 3068.76 3.91
Bangkok 1651.4 1563.88 5.60
Manila 8144.16 7,466.02 9.08
Jakarta 6538.638 6,194.50 5.56
Kuala Lumpur 1683.53 1690.58 -0.42
Ho Chi Minh 908.67 892.54 1.81
(Reporting by Mensholong Lepcha; additional reporting by Syed
Saif Hussain; Editing by Subhranshu Sahu)
