SE Asia Stocks-Singapore hits 1-mth high; Philippines falls for 3rd session

Last Updated: Wed, Nov 23, 2016 11:20 hrs

By Aparajita Saxena Nov 23 (Reuters) - Singapore stocks rose about half a percent to a one-month high on Wednesday with financials leading the gains after data showed the headline consumer price index fell in October. Oil and gas stocks held on to their gains from the previous session as oil prices rallied in anticipation of an OPEC-led production cut that is planned to be finalised by the end of the month. The city-state's big three banks, DBS Holdings United Overseas Bank Ltd and Oversea-Chinese Banking Corp, rose between 0.7 and 1.2 percent, while rig builder Sembcorp Marine Ltd climbed 3.19 percent. Thailand and Vietnam rose for a third straight session, while other markets, including the Philippines , were subdued in lacklustre trading after strong gains on Wall Street led foreign investors dump risky emerging assets for safer bets. "There's divergence right now between U.S. and emerging markets. Capital flows are going back to the United States because of the expected interest rate hike (by the U.S. Federal Reserve), and Donald Trump's political agenda that is expected to boost U.S. yields," said Ralph Bodollo, an equity research analyst with RCBC Securities. Philippine shares fell 1.2 percent, heading for their third straight session of declines, on selling by foreign investors, analyst said. Real estate and financial stocks made up more than two-thirds of the losses. Real-estate conglomerate and index heavyweight Ayala Land Inc shed as much as 4.4 percent to its lowest in nearly 10 months, while property developer SM Prime Holdings fell 2.1 percent in its for fourth consecutive session of declines. Malaysian shares slipped in thin trade, dragged down by financials, ahead of a central bank policy meeting later in the day where it is likely to leave benchmark interest rates unchanged, a Reuters poll showed. Malayan Banking Bhd, Malaysia's biggest lender, slipped 0.5 percent, on track for its second session of falls. For Asian Companies click; SOUTHEAST ASIAN STOCK MARKETS: Change at 0512 GMT STOCK MARKETS Market Current Previous Close Pct Move Singapore 2836.59 2822.2 0.51 Bangkok 1491.68 1485.68 0.40 Manila 6722.31 6802.73 -1.18 Jakarta 5192.536 5204.674 -0.23 Kuala Lumpur 1624.34 1629.32 -0.31 Ho Chi Minh 683.23 681.91 0.19 Change this year Market Current End 2015 Pct Move Singapore 2836.59 2882.73 -1.60 Bangkok 1491.68 1288.02 15.81 Manila 6722.31 6952.08 -3.31 Jakarta 5192.536 4593.008 13.05 Kuala Lumpur 1624.34 1692.51 -4.03 Ho Chi Minh 683.23 579.03 18.00 (Reporting by Aparajita Saxena in Bengaluru; Editing by Subhranshu Sahu)

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