ASEAN: BUSINESS > FINANCE – SET extends gains, Philippine stocks hit record closing high
The Stock Exchange of Thailand rises again on Friday to close at 1,795.45. (Bangkok Post photo)
Thai and Philippines indexes touched record closing highs on Friday, while most Southeast Asian stock markets rose, mirroring increases in Asian peers and in step with stellar gains on Wall Street overnight.
The Stock Exchange of Thailand marked a record closing high, with financials leading the gainers. The main index rose 4.43 points or 0.25% to close at 1,795.45.
The index rose 2.4% on week.
Bank of Ayudhya surged 16.6% to its highest since March 2015.
Philippine shares climbed 0.4% to touch a record closing high, with real estate stocks and financials leading the gainers.
The index, which has posted five consecutive weekly gains, rose 2.5% on week, the highest since April 2017.
Ayala Land Inc climbed 2.8%, while Ayala Corp rose to its highest since Nov 9.
Singapore shares fell, dragged down by financials. The index, however, gained 2.5% on week, its best since January last year.
DBS Holdings, the biggest stock by market capitalisation, dropped 0.7%.
“Singapore has been on a good run of late, so I think it is just short-term profit-taking that’s driving it down today,” said a Singapore-based analyst who did not want to be named.
Malaysia added 0.8%, while Indonesian shares climbed nearly 1%.
In Asia, shares hovered only a few points below their all-time peak of 591.5 hit in November 2007, as US jobs data pointed to firm economic growth.
The Dow blew past the 25,000 mark for the first time on Thursday, while other major US indexes touched closing record highs again.
The gains on Wall Street have had a positive impact as most global asset managers are willing to take on risk, especially in the emerging markets, said Fio Dejesus, equity research analyst at RCBC Securities in Manila.
| Southeast Asian stock markets | |||
| Current | Previous | % change | |
| Thailand | 1,795.45 | 1,791.02 | +0.25 |
| Indonesia | 6,353.73 | 6,292.32 | +0.98 |
| Malaysia | 1,817.97 | 1,803.45 | +0.81 |
| Philippines | 8,770.00 | 8,739.83 | +0.35 |
| Singapore | 3,489.45 | 3.501.16 | -0.33 |
| Vietnam | 1,012.65 | 1,019.75 | -0.70 |
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COURTESY:
The Bangkok Post
5 Jan 2018 at 17:25
WRITER: BANGKOK POST AND REUTERS
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