Most Southeast Asian stock markets ended higher on Wednesday tracking mild gains in Asian shares, while Philippines fell for a third straight session on disappointing second-quarter results. MSCI's broadest index of Asia-Pacific shares outside Japan was steady near its highest since late 2007. The Philippine index gave up early gains to end 0.4 percent lower on lacklustre results and profit booking. The index scaled a near one-year high late last week and is up more than 15 percent in the year so far.
"I guess investors are a bit disappointed so far with second-quarter earnings," said Lexter Azurin, a senior analyst with Manila-based AB Capital Securities. Thailand gained for a second straight session and closed 0.3 percent higher, supported by financials, industrials and technology stocks. Bangkok Bank PCL ended 0.3 percent higher, while Airports of Thailand PCL closed 0.5 percent up. Among other gainers, Indonesia closed 0.3 percent higher, helped by materials and consumer staples.
Cement producer Indocement Tunggal Prakarsa Tbk PT rose 9.7 percent, while cigarette maker Hanjaya Mandala Sampoerna Tbk PT closed 2.6 percent higher. An index of the region's 45 most liquid stock added 0.6 percent.
Singapore shares too rose for a second straight session and closed 0.3 percent higher, helped by gains in financials and consumer stocks. DBS Group Holdings Ltd closed 1.1 percent higher. The city-state's July manufacturing PMI data is expected later in the day. Malaysian shares added 0.3 percent, with the broad-based gains led by industrials and telecom stocks. Consumer cyclicals and utilities were the top losers with Aboitiz Equity Ventures Inc and SM Investments Corp ending 3.7 percent and 1.3 percent lower, respectively.
Comments
Comments are closed.