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SE Asia Stocks: Manila hits record high for third day

BANGKOK, Jan 30 – Most Southeast Asian stock markets gained today, with the Philippines hitting a record high for the third day running and Thailand at a more than 18-year high ahead of the US Federal Reserve’s monetary policy decision.

The Philippine Composite Index ended 0.6 per cent firmer at a record closing high of 6,271.23, after hitting a fresh intraday peak of 6,320.60. It touched new record closing highs in the last two sessions as well.

A 1.4 per cent gain in Philippines Long Distance Telephone Co and 1.6 per cent rise in Ayala Land Inc boosted the index.

The Thai SET index rose 0.8 per cent, led by energy shares, to end at 1,490.82. This was its highest close since November 1994, despite net foreign selling of US$47 million.

Bucking the trend, Malaysia ended weaker with a 0.6 per cent fall, but it saw foreign inflows of US$37.34 million.

Indonesia gained 0.3 per cent and Vietnam ended 0.7 per cent higher at a near nine-month high. Singapore’s Straits Times Index gained 0.8 per cent to a 15-month high. – Reuters

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