SE Asian stocks mixed; Philippines jumps

Published: December 04, 2018 13:00:34 | Updated: December 22, 2018 11:37:39

Southeast Asian stocks were mixed on Tuesday. Philippine stocks rose 2.0 per cent ahead of November inflation data, while Singapore shares fell 1.0 per cent on disappointing manufacturing data.

Financials and industrials led the gains in the Philippines, with SM Investments Corp firming 2.5 per cent and SM Prime Holdings strengthening 1.8 per cent.

Meanwhile, Singapore shares were headed for their session of fall in five after data showed the city-state's manufacturing growth slowed to a 16-month low in November, reports Reuters.

Technology and financial stocks were the top drags, with Venture Corp Ltd declining 4.1 per cent and Genting Singapore Ltd shedding 1.9 per cent.

Among other markets in Southeast Asia, Indonesia rose 0.4 per cent, helped by financial and material stocks.

Bank Central Asia Tbk PT climbed 0.8 per cent, while Telekomunikasi Indonesia (Persero) Tbk Perusahaan Perseroan PT gained 1.6 per cent.

Malaysian stocks dropped 0.5 per cent, dragged by telecommunication services and consumer cyclical stocks, ahead of the release of October trade data on Wednesday.

Malaysia's exports are expected to rise 6.2 per cent in October from a year earlier, slightly slower than the previous month's pace, a Reuters poll showed.

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