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Most Southeast Asian stocks end higher; Vietnam up nearly 4 pct

Most Southeast Asian stocks end higher; Vietnam up nearly 4 pct

Tuesday, February 13, 2018, 11:04 GMT+7

Most Southeast Asian stock markets finished higher on Monday tracking U.S. stocks which gained more than 1 percent in the previous session, restoring some confidence in investors.

S&P 500 e-mini futures rose 0.30 pct late Sunday as trading reopened after the S&P 500 Index recorded its worst week in two years.

MSCI's broadest index of Asia-Pacific shares outside Japan crept up 0.6 percent, having suffered a 7.3 percent drubbing last week.

Vietnam shares snapped two sessions of losses and ended 3.8 percent higher with financials and realty leading the gains.

Joint Stock Commercial Bank for Foreign Trade of Viet Nam rose 4.2 percent while Vingroup JSC climbed 6.9 percent to over a one-week closing high.

Singapore shares jumped 0.2 percent as financial stocks gained.

DBS Group Holdings Ltd rose 2.3 percent and was the biggest gainer on the index.

A Reuters poll on Monday predicted quarter-on-quarter growth at 2 percent in the October-December period on a seasonally adjusted and annualised basis, slowing from the 2.8 percent preliminary figure.

Malaysia rose 0.6 percent with telecom and financial stocks leading the gains. Axiata Group Bhd rose nearly 3 percent to its highest close in a week and Public Bank Bhd added 0.6 percent.

The biggest gainer on the index was Telekom Malaysia Bhd , up 3.7 percent to a one-week closing high.

Malaysia's economy grew more slowly in the last quarter of 2017 than the blistering pace set in July-September, a Reuters poll showed.

Thai shares gained 0.7 percent with energy and utilities accounting for most of the gains.

PTT PCL rose 1.7 percent while Gulf Energy Development PCL jumped 4.1 percent to its highest close in over two weeks.

Philippine shares, however, ended lower for a third straight session, down 0.2 percent, dragged by consumer discretionary and real estate stocks.

Jollibee Foods Corp dropped 3.1 percent and was the biggest loser on the index while real estate business Ayala Land Inc closed down 0.9 percent.

Reuters

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