Most markets rise on financials

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(July 24): Most Southeast Asian stock markets rose on Tuesday with Singapore heading for a fifth session of gains in six, driven by financials amid talks of a central bank policy tightening. 

The Bank of Japan is in unusually active discussions before this month's policy decision, with changes to its interest-rate targets and stock-buying techniques on the table, Reuters reported on Friday, giving rise to speculation that the central bank may scale back its monetary stimulus more quickly than
expected.

Global bond markets came under pressure on the talk of BOJ tightening and the risk of a robust reading on U.S. economic growth later in the week.    

Financials accounted for more than half of the gains in Singapore with index heavyweights DBS Group Holdings, United Overseas Bank and Oversea-Chinese Banking Corp rising between 0.7% and 1.15%.    

Indonesian shares climbed for a third consecutive session, helped by commodity-driven stocks, financials and energy plays.    

Thai shares rose for a fifth consecutive session with industrial and energy stocks leading the gains. Airports of Thailand was the top boost with a gain of 1.6%.

Investors are returning to the market to speculate as it is not very expensive, said Teerada Charnyingyong, an analyst with Phillip Capital Thailand, adding that they were discounting previous concerns to an extent and, thereby, helping the market trade in positive territory.

Philippine shares edged higher, driven by industrials. SM Investment and and SM Prime Holdings accounted for most of the gains, rising 0.8% and 0.55% respectively. 

Malaysian shares were headed for an 11th session of gains in 12, boosted by financials. CIMB Group Holdings Bhd and Axiata Group BHD rose 0.7% and
1.1% respectively, making them the top gainers on the benchmark index.

Vietnam shares fell fell for a second session in three with all sectors in negative territory. Steel maker Hoa Phat Group JSC  and realtor Vinhomes JSC were
biggest drags, down 4.5% and 0.9% respectively.

Market Current Previous close Pct Move
Singapore 3302.41 3293.71 0.26
Bangkok 1681.72 1675.75 0.36
Manila 7400.73 7376.8 0.32
Jakarta 5933.586 5915.796 0.30
Kuala Lumpur 1763.2 1757.96 0.30
Ho Chi Minh 930.25 936.74 -0.69

Change on year

Market Current End 2017 Pct Move
Singapore 3302.41 3402.92 -2.95
Bangkok 1681.72 1753.71 -4.11
Manila 7400.73 8,558.42 -13.52
Jakarta 5933.586 6355.654 -6.64
Kuala Lumpur 1763.2 1796.81 -1.87
Ho Chi Minh 930.25 984.24 -5.48