The Financial Express
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SE Asian stocks: Philippines, Thailand hit record highs

| Updated: January 08, 2018 12:31:14

Southeast Asian stocks mostly higher

Most Southeast Asian stock markets rose on Friday as Asian equities drew heart from record-setting gains on Wall Street overnight.

Philippine shares rose more than 1.0 per cent. SM Investments Corp scaled an all-time peak, while JG Summit Holdings Inc climbed to its highest since Nov. 3.

The Philippines' annual inflation rate held steady in December, bringing the average for 2017 to 3.2 per cent, well within the central bank's target rate, the statistics agency said on Friday.

Thai shares ticked up 0.3 per cent, on track to register four consecutive winning sessions, with utilities and financials accumulating most of the gains, reports Reuters.

Mobile network operator Advanced Info Service led the charge, while Bangkok Bank climbed to a near three-and-a-half-year high.

Malaysian shares rose 0.7 per cent. Axiata Group surged 5.0 per cent to a near one-and-a-half-year high, while Sime Darby rose 9.0 per cent.

Malaysia's November exports rose 14.4 per cent from a year earlier, slower than the previous month, on lower shipments of commodities, but above the 13.9 per cent rise forecast by a Reuters poll, government data showed on Friday.

Indonesian shares gained slightly, while Singapore was largely steady.

Vietnam shares fell 0.3 per cent, on track to snap nine sessions of consecutive gains.

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