By Susan Mathew
Nov 25 (Reuters) - Singapore shares entered their
fourth consecutive session of gains on Friday as a U.S holiday
halted the dollar's rally that had absorbed capital out of most
Wall Street was closed on Thursday for Thanksgiving and
trading will end early on Friday.
"I think it is because the United States is closed for
Thanksgiving so there is a lack of foreign counterparts dragging
the markets down," said Grace Aller, analyst, AP Securities.
"It's mostly locals buying into the markets. I think it
(Thanksgiving holiday) opened up trading opportunity for the
The dollar rose to an eight-month high against the yen on
Friday as U.S. bond yields resumed their rise in Asia after the
Thanksgiving break shut markets in the United States.
Strong U.S. manufacturing and consumer data this week have
bolstered the surge in the dollar. The dollar index has risen
0.6 percent this week.
Recent robust data from the United States and China showed
that the world's largest economies are doing well. This shows
that they are steadying, thus, lessening the trickling of bad
economic data into the other smaller markets by removing
external headwinds, Aller said.
MSCI's broadest index of Asia-Pacific shares outside Japan
inched up 0.42 percent on Friday.
The Singapore main index rose as much as 0.94 percent,
pulled up by consumer and financial stocks. Agribusiness group
Wilmar International Ltd climbed as much as 3.5
percent, while DBS Group Holdings Ltd gained upto 1.4
Thai shares gained for a fourth session in five, led
by consumer and healthcare stocks. Food franchise and hotelier
Minor International Plc rose as much as 5.8 percent,
while Bangkok Dusit Medical Services PCL edged up as
much as 0.88 percent.
Meanwhile, Vietnam dropped as much as 0.9 percent, on
track to post its second consecutive session of declines, with
consumer non-cyclicals and financials dragging the index down.
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SOUTHEAST ASIAN STOCK MARKETS : Change at 0511 GMT
Market Current Prev close Pct Move
Singapore 2866.26 2843.72 0.79
Bangkok 1496.4 1490.11 0.42
Manila 6855.34 6873.31 -0.26
Jakarta 5112.961 5107.623 0.10
Kuala Lumpur 1624.47 1624.21 0.02
Ho Chi Minh 675.01 678.18 -0.47
Change on year
Market Current End 2015 Pct Move
Singapore 2866.26 2882.73 -0.57
Bangkok 1496.4 1288.02 16.18
Manila 6855.34 6952.08 -1.39
Jakarta 5112.961 4593.008 11.32
Kuala Lumpur 1624.47 1692.51 -4.02
Ho Chi Minh 675.01 579.03 16.58
(Reporting by Susan Mathew in Bengaluru; Editing by Sherry