SE Asia Stocks-Rise; Philippines jumps over 2 pct
* Singapore snaps 9 sessions of falls on financials,
telecoms
* Malaysia posts 3-month closing high ahead of inflation
data
By Sumeet Gaikwad
Aug 23 (Reuters) - Southeast Asian stock markets rose on
Thursday with the Philippines jumping over 2 percent on foreign
investor buying, while Singapore snapped nine straight sessions
of falls on the back of gains in financial and telecom shares.
However, gains were capped ahead of manufacturing data from
Europe and the United States later in the day, which will be
closely watched to gauge whether global trade wars had any
impact on economic activity.
Meanwhile, the United States and China enacted 25 percent
tariffs on $16 billion worth of the other's goods, in the latest
escalation of trade war between the world's top two economies.
In Southeast Asia, Singapore shares rose 1.6 percent
to a near two-week closing high. Blue chip Singapore
Telecommunications Ltd climbed 6.5 percent to a near
one-month closing high, while lender DBS Group Holdings
added 2.2 percent.
Singapore's core consumer price index rose at its fastest
pace in nearly four years in July in year-on-year terms, due to
higher electricity and gas costs, official data showed.
Real estate and industrial stocks helped Philippine shares
post a near two-week closing high.
Blue chip SM Prime Holdings led gains with a rise
of 3.8 percent, while JG Summit Holdings climbed 5.8
percent.
Foreign investors bought Philippine equities worth a net $9.6
million on Thursday, according to Thomson Reuters Eikon data.
Financial and telecom stocks helped Malaysian shares
climb 0.7 percent to their highest close in three months ahead
of July inflation data due on Friday.
Axiata Group ended nearly 3 percent higher, while
Public Bank Bhd rose 2.6 percent.
The annual inflation rate is expected to have risen to 0.9
percent in July, marginally faster than the previous month, a
Reuters poll showed.
Indonesian shares climbed for a third straight
session and posted a near two-week closing high, helped by
financials.
Bank Central Asia rose 2.9 percent, while Bank
Rakyat Indonesia added 3.8 percent.
Thai shares rose for a fifth session in six and
posted their highest close in nearly two weeks, helped by energy
stocks.
Oil and gas producer PTT was one of the biggest
boost with a gain of 0.5 percent, while PTT Exploration and
Production rose over 1 percent.
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SOUTHEAST ASIAN STOCK MARKETS
Change on the day
Market Current Previous close Pct Move
Singapore 3249.89 3199.89 1.56
Bangkok 1704.8 1698.3 0.38
Manila 7804.03 7632.26 2.25
Jakarta 5982.985 5944.301 0.65
Kuala Lumpur 1810.87 1798.11 0.71
Ho Chi Minh 987.36 982.15 0.53
Change on year
Market Current End 2017 Pct Move
Singapore 3249.89 3402.92 -4.50
Bangkok 1704.8 1753.71 -2.79
Manila 7804.03 8558.42 -8.81
Jakarta 5982.985 6355.654 -5.86
Kuala Lumpur 1810.87 1796.81 0.78
Ho Chi Minh 987.36 984.24 0.32
(Reporting by Sumeet Gaikwad in Bengaluru; Editing by
Subhranshu Sahu)
