🥇 First rule of investing? Know when to save! Up to 55% off InvestingPro before BLACK FRIDAYCLAIM SALE

SE Asia Stocks-Most markets end higher; Thailand lifted by telecom shares

Published 18/12/2019, 09:48 pm
© Reuters.  SE Asia Stocks-Most markets end higher; Thailand lifted by telecom shares
WBC
-
JKSE
-
KLSE
-
TPGC
-
SETI
-
PSI
-
BPI
-
DMC
-
MER
-
ADVANC
-
PTT
-

* Malaysian stocks hit highest since Nov. 22

* Indonesian equities gain for fourth session

* Philippine index reverses losses

By Shruti Sonal

Dec 18 (Reuters) - Most Southeast Asian markets ended higher on Wednesday, with Malaysia and Thailand leading gains, as a run of upbeat data from the United States eased recession and global slowdown fears.

U.S. homebuilding increased more than expected in November and permits for future home construction surged to a 12-1/2-year high, while a strong rebound was seen in manufacturing production in the previous month. stocks .SETI jumped over 1%, underpinned by gains in telecom and energy stocks.

Communication stocks were supported by news of an industry watchdog drafting regulations for licensing of 5G technology by March next year, said Phillip Capital Thailand analyst Teerada Charnyingyong.

Advanced Info Service PCL ADVANC.BK rose over 3.8% to hit its highest since Nov. 29, while energy conglomerate PTT PCL PTT.BK gained 2.3%.

The country's central bank left its benchmark interest rate unchanged at a record low on Wednesday. helped the Philippine index .PSI reverse losses, although gains were capped due to a drag in financials.

DMCI Holdings DMC.PS and Manila Electric Co MER.PS ended 9.6% and 0.7% higher, respectively.

Financials were pressured by reports about the central bank probing about ten banks for ties with Australia's scandal-hit Westpac Banking Corp WBC.AX , according to Richard Laneda, Senior Research Manager at COL Financial Group. of the Philippine Islands BPI.PS , which is the local remittance partner of Westpac, slumped over 3.9% to its lowest since July 12.

Malaysian equities .KLSE jumped 1.4% to hit their highest since Nov. 22, lifted by healthcare units and industrials.

Top Glove Corporation Bhd TPGC.KL , which posted an increase in its quarterly net profit on Tuesday, extended gains to touch its highest since July 12. stocks .JKSE were buoyed by financials and real estate stocks.

Foreign interest in Indonesian markets is driven by rotation from bonds to equities due to the end of the rate-cut cycle and "from the developed markets into emerging markets," said Mirae Asset analyst Taye Shim.

The country's central bank is scheduled to meet on Thursday, where it will likely keep rates unchanged, a Reuters poll showed. Asian Companies click; ASIAN STOCK MARKETS Change on the day

Market

Current Previous close Pct Move Singapore

3209.54 3200.8

0.27 Bangkok

1563.74 1548.65

0.97 Manila

7733.67 7730.45

0.04 Jakarta

6287.25 6244.352

0.69 Kuala Lumpur

1599.11 1576.95

1.41 Ho Chi Minh

951.13 954.03

-0.30

Change so far in 2019

Market

Current End 2018

Pct Move Singapore

3209.54 3068.76

4.59 Bangkok

1563.74 1563.88

-0.01 Manila

7733.67 7,466.02

3.58 Jakarta

6287.25 6,194.50

1.50 Kuala Lumpur

1599.11 1690.58

-5.41 Ho Chi Minh

951.13 892.54

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.