CORRECTED-SE Asia Stocks-Weaker dollar, bond yields lift risk appetite; S'pore hits 14-mth high

Last Updated: Thu, Jan 12, 2017 12:20 hrs

(Corrects date of dollar's low against yen in second paragraph) By Anusha Ravindranath Jan 12 (Reuters) - Most Southeast Asian stock markets rose on Thursday, in line with Asian peers, as a weaker U.S. dollar and bond yields fuelled risk appetite in emerging markets after President-elect Donald Trump provided scant clarity on future fiscal policies. The dollar eased against the perceived safe-haven yen on renewed uncertainty about Trump's policies while lower Treasury yields also undermined the greenback. It fell as low as 114.245 yen, its deepest nadir since Dec. 9. MSCI's broadest index of Asia-Pacific shares outside Japan climbed 0.8 percent to its highest since late October. The rally in emerging markets is triggered by the correction in the dollar, said April Lee Tan of COL Financial, adding that: "One of the reasons why they were sold off post Trump's victory was that investors were expecting rapid economic policies out of the United States." Trump's win in November had sparked a major realignment in markets, with expectations of tax cuts, fiscal spending and deregulation sending U.S. bond yields and dollar higher, while prompting capital outflows from emerging economies. Singapore shares rose as much as 0.7 percent to their highest in 14 months. Financials drove the gains with DBS Group and United Overseas Bank adding 0.9 percent and 0.7 percent, respectively. Global Logistic Properties was the top performer with a rise of 3.2 percent. Malaysian shares climbed as much as 0.45 percent to their highest in four months and were on track for a third straight session of gains, helped by telecom and financial stocks. Telecom operator Axiata Group Bhd rose 1.06 percent and was among the top gainers. Jakarta gained as much as 0.4 percent, helped by financial and real estate stocks, while Thailand rose for a third straight session as an overnight rally in oil boosted energy stocks. Both PTT Pcl and Thai Oil Pcl rose more than 1 percent. Philippine shares fell for a second consecutive session, hurt by losses in financial and industrial stocks, while Vietnam was flat. For Asian Companies click; SOUTHEAST ASIAN STOCK MARKETS AS OF 0443 GMT Market Current previous Pct Move close Singapore 3008.1 3000.94 0.24 Bangkok 1574.5 1572.93 0.10 Manila 7301.72 7321.82 -0.27 Jakarta 5312.581 5301.237 0.21 Kuala Lumpur 1678.73 1675.21 0.21 Ho Chi Minh 686.99 687.16 -0.02 Change so far this year Market Current End 2016 Pct Move Singapore 3008.1 2880.76 4.42 Bangkok 1574.5 1542.94 2.05 Manila 7301.72 6840.64 6.74 Jakarta 5312.581 5296.711 0.30 Kuala Lumpur 1678.73 1641.73 2.25 Ho Chi Minh 686.99 664.87 3.32 (Reporting by Anusha Ravindranath in Bengaluru; Editing by Subhranshu Sahu)



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