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Southeast Asian stocks: Philippines jumps to 15-month high

Monday, 15 July 2019


Philippine shares jumped over 1.5 per cent on Monday to their highest in more than 15 months, after a local daily reported of more scope for policy easing quoting the top central bank official, while Indonesian stocks were headed for a fourth session of gains in five.

Large caps were top gainers in the Philippines, with property developer SM Prime Holdings up 1.7 per cent, while conglomerate SM Investments Corp added 4.3 per cent.

Financial and consumer stocks were top gainers in Indonesia, with Bank Central Asia Tbk rising 1.0 per cent, while cigarette maker Hanjaya Mandala Sampoerna climbed 1.7 per cent.

Meanwhile, data showed June trade balance came in below expectations, reports Reuters.

Thai stocks rose marginally, helped by gains in energy stocks.

Malaysian shares fell slightly, while Singapore stocks traded sideways.