Southeast Asian stocks mostly higher, Singapore jumps


FE Team | Published: February 02, 2018 13:41:01 | Updated: February 03, 2018 12:12:47


File Photo (Collected)

Southeast Asian stock markets nudged higher on Friday with the Philippines heading for its first gain in four sessions, while Singapore slipped for a third day in four.

The Philippine Stock Exchange PSEI Index climbed as much as 0.6 per cent, boosted by financials and industrials, but was on track to end the week lower for the first time in nine weeks.

BDO Unibank Inc jumped as much as 1.6 percent on Friday, while JG Summit Holdings rose as much as 2.0 per cent.

Thai shares extended their rise in to a third session, adding as much as 0.5 per cent, on the back of gains in energy stocks and were on track to post their tenth straight weekly rise.

Indonesian shares climbed nearly 1.0 per cent, buoyed by financials with Bank Central Asia hitting a record high.

Singapore shares dropped as much as 0.7 per cent to a two-week low, dragged by financials. Singapore shares have shed 0.7 per cent so far this week.

Malaysian shares resumed trading on a sombre note after two days of holidays.

Meanwhile, Asian shares stumbled as talk of policy tightening in Europe and expectations that inflation is set to gear higher drove up borrowing costs globally.

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