* Vietnamese, Thai stocks set for 4-week losing streak
* Philippine shares set for best weekly gain in almost 2
By Rashmi Ashok
Jan 4 (Reuters) - Philippine shares surged on Friday as the
country's inflation cooled in December, while bargain-hunters
snapped up cheapened Singaporean stocks.
While sentiment in broader Asia remained gloomy after
disappointing U.S. factory output data from and Apple Inc's
shock forecast cut, risk appetite across Southeast Asia
Slower increases in prices of food and transport drove
annual inflation in Philippines to a seven-month low in
December, helping Philippine stocks surge as much as 1.48
percent to a near-four month high.
The index has risen 4.3 percent this week and is on course
to clock its best weekly performance in almost two years.
Industrial conglomerate JG Summit led gains with a 4
Following a nearly 2 percent decline in the previous two
sessions, Singapore's benchmark index bounced back with a
0.87 percent jump on Friday. Palm oil producer Golden
Agri-Resources Ltd was among the top gainers.
"In the last six months, stocks have priced in all the
weaker data and valuations have turned cheap," said Joel Ng, an
analyst at KGI Securities in Singapore. "In terms of short term
trading there appear to be some opportunities."
Singapore's index has lost nearly 7 percent over the last
Meanwhile, Indonesian stocks reversed early losses
to edge higher as energy and consumer durables stocks lent
Vietnamese shares fell 0.69 percent as declines in
real-estate and financial stocks weighed. Dream House Investment
Corp was the top decliner.
The Vietnamese index is headed for a weekly drop of about 3
percent, marking its fourth successive week in the red.
Thai stocks are also poised for a four-week losing
streak as financials weighed on the index on Friday.
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SOUTHEAST ASIAN STOCK MARKETS at 0338 GMT
Change on the day
Market Current Previous close Pct Move
Singapore 3037.89 3012.88 0.83
Bangkok 1554.47 1560.03 -0.36
Manila 7780.41 7680.6 1.30
Jakarta 6241.59 6221.01 0.33
Kuala Lumpur 1674.05 1675.83 -0.11
Ho Chi Minh 866.67 878.22 -1.32
Change so far in 2019
Market Current End 2018 Pct Move
Singapore 3037.89 3068.76 -1.01
Bangkok 1554.47 1563.88 -0.60
Manila 7780.41 7,466.02 4.21
Jakarta 6241.59 6,194.50 0.76
Kuala Lumpur 1674.05 1690.58 -0.98
Ho Chi Minh 866.67 892.54 -2.90
(Reporting by Rashmi Ashok in Bengaluru; Editing by Sai Sachin