SE Asia Stocks-Largely up; Indonesia gains nearly 2 pct

  • Reuters
  • Stock Market News
SE Asia Stocks-Largely up; Indonesia gains nearly 2 pct
Credit: © Reuters.

By Christina Martin

Dec 29 (Reuters) - Most Southeast Asian stock markets closed higher in thin trade on Thursday despite a subdued start following an overnight fall in Wall Street partly due to weak U.S. home resales data. .N

Contracts to buy previously owned U.S. homes fell in November to their lowest level in nearly a year, which was seen by many as a sign that rising interest rates could be weighing on the housing market. shares .JKSE ended up as much as 1.96 percent, their highest since Nov. 11, helped by financial and consumer stocks.

"Indonesia promises to provide significant yields next year due to improvement of their fundamentals," said Manny Cruz, an analyst at Manila-based Asiasec Equities Inc.

Bank Central Asia BBCA.JK , the biggest bank by market value, ended 4.24 percent higher while automaker Astra International ASII.JK rose 3.83 percent.

Philippine shares .PSI , which rose nearly 3 percent in the previous session, pared early losses to end flat.

"There has been some window dressing before closing which helped trim market losses," said Cruz.

"There has also been a decline over the past few months which has compelled bargain hunters to buy."

Singapore .STI closed 0.3 percent lower, dragged by financial and industrial stocks.

The government's advance estimate of fourth-quarter GDP is due on Tuesday next week. biggest losers on the benchmark index were Comfortdelgro Corporation Ltd CMDG.SI , down 3.9 percent to its lowest close in a month, and Singapore Technologies Engineering Ltd STEG.SI , down 1.2 percent.

Thailand .SETI , Malaysia .KLSE and Vietnam .VNI posted marginal gains.

In Asia, MSCI's broadest index of Asia-Pacific shares outside Japan .MIAPJ0000PUS was last up 0.3 percent. MKTS/GLOB

For Asian Companies click; ASIAN STOCK MARKETS as at 0941 GMT Market

Current

Previous Pct Move

Close

Singapore

2889.15

2898.3

-0.32 Bangkok

1537.81

1524.6

0.87 Manila

6840.64

6846.44 -0.08 Jakarta

5302.566

5209.445 1.79 Kuala Lumpur

1637.93

1630.3

0.47 Ho Chi Minh

664.72

663.5

0.18

Change on year

Market

Current

End 2015 Pct Move Singapore

2889.15

2882.73 0.22 Bangkok

1537.81

1288.02 19.39 Manila

6840.64

6952.08 -1.60 Jakarta

5302.566

4593.008 15.45 Kuala Lumpur

1637.93

1692.51 -3.22 Ho Chi Minh

664.72

579.03

14.80

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100

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