SE Asian stocks climb; Philippines jumps, Singapore slides

Published: January 03, 2019 12:08:15 | Updated: January 26, 2019 15:05:48


File Photo (Collected)

Most Southeast Asian shares climbed on Thursday, with Philippine markets leading gains ahead of the release of inflation figures, while Singaporean stocks bucked the trend to fall sharply.

Philippine stocks gained 1.04 per cent, as industrial shares SM Investments Corp and JG Summit Holdings Inc propelled the index, reports Reuters.

A poll shows that the country's inflation is expected to cool to a six-month low in December, making it likely the Philippine central bank will leave policy rates unchanged this year.

A surge in consumer goods stocks powered a 0.4 per cent advance in Indonesian shares.

Shares in Malaysia and Thailand also rose, by 0.56 per cent and 0.71 per cent respectively.

In Kuala Lumpur tourist resort chain Genting Malaysia Berhad added 2.7 per cent and palm oil producer Sime Darby Plantation Berhad rose 3.3 per cent, while in Bangkok energy stocks provided the biggest boost to the benchmark.

Meanwhile, Singaporean shares edged 0.81 per cent lower, with Thai Beverage PCL dropping 3.3 per cent and industrial conglomerate Jardine Strategic Holdings Ltd losing 1.4 per cent.

Vietnamese stocks also shed just above 0.8 per cent, with most major sectors in the red. Real-estate stocks like Vinhomes JSC and Vingroup JSC, which powered a rally on Wednesday, fell around 2.0 per cent apiece.

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