The Financial Express

SE Asian stocks: Indonesia, Philippines hit record high

Published: December 29, 2017 14:44:42

SE Asian stocks rally at year-end trading

Southeast Asian stocks mostly rose on Friday, the last trading day of the year, with Indonesia scaling a new high for a third straight session and the Philippines extending gains to hit an all-time peak.

The Jakarta Composite Index climbed as much as 0.8 per cent on continued optimism that the market was poised to provide significant yields in 2018, reports Reuters.

Indonesian shares have gained over 2.0 per cent so far this week, set for the best yearly rise since 2014 with an increase of about 20 per cent so far in 2017, reports Reuters.

Philippine shares jumped as much as 1.2 per cent and were headed for a fifth straight session of gains after a slew of positive economic data.

Philippine shares have gained more than 2.0 per cent so far this week in what could be their biggest weekly rise since May.

Thai shares rose for a fifth session in six and were on track for a fifth straight weekly gain.

Financials and Industrials led the gains on Friday with Siam Cement Pcl and Airports of Thailand rising over 1.5 per cent each. Thai shares have gained more than 13 per cent so far this year.

Vietnam shares rose on Friday, helped by financial and consumer stocks. They have gained about 48 per cent so far this year, making them the best performer in Southeast Asia, and set for a sixth straight yearly rise.

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