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SE Asia Stocks-Most firm; Indonesia slips after hitting record

Sunday, January 21, 2018, 09:16 GMT+7
SE Asia Stocks-Most firm; Indonesia slips after hitting record
A investor looks at stock market screens at a securities company in Hanoi, Vietnam, April 20, 2016. Photo: Reuters

Most Southeast Asian stock markets firmed on Friday and were on track to end the week higher as broader Asian shares climbed to an all-time top on data that showed China's growth accelerated in 2017 for the first time in seven years.

However, overnight losses on Wall Street and a potential U.S. government shutdown stirred caution, putting a lid on gains in Asian shares.

MSCI's broadest index of Asia-Pacific shares outside Japan climbed 0.3 percent to an all-time peak.

Vietnam, the top year-to-date gainer in Southeast Asia in percentage terms, rose more than 1 percent, with gains across the board.

Vincom Retail and Vietjet Aviation set records, climbing 4.9 percent and 5.9 percent, respectively.

Singapore shares rose 0.5 percent and were on course to finish their fourth consecutive week higher.

Financials accounted for most of the gains, with top lenders United Overseas Bank Ltd, DBS Group and Oversea-Chinese Banking Corp posting gains in the range of 0.7 percent and 1 percent.

Philippine stocks also rose as much as 0.5 percent, with banks and utilities leading the gainers, putting the index on track to end the week higher.

Bank of the Philippine Islands climbed 6 pct to an all-time high, while BDO Unibank firmed 3.2 percent.

Indonesian shares hit a record in early trading, but later retreated as much as 0.3 percent, weighed down by financials and telecom stocks.

However, the index was still on track to gain 1.4 percent this week.

The index of the country's 45 most liquid stocks fell as much as 0.6 percent in the session.

Reuters

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