(Oct 13): Most Southeast Asian stock markets ended higher on Friday, with the Philippines closing at a record level, as robust Chinese trade data boosted investor sentiment across the region.
Customs data showed China's import and export growth accelerated in September, suggesting the world's second-biggest economy is still expanding at a healthy pace despite widespread forecasts of an eventual slowdown.
"The Chinese trade data has had a positive impact on markets, key countries in Asia are now major trading partners with China," said Joel Ng, an analyst with Singapore-based KGI Securities.
Investors now await US inflation data due later in the day and China's 19th Communist Party Congress for cues about the global economy.
China's Communist Party opened a meeting earlier this week to make final preparations for a key party congress that begins on Oct 18. The party's constitution will be amended at the end of the Congress.
Philippine shares rose half a percent to their highest ever close, helped mostly by financials.
BDO Unibank Inc jumped 3.3% to close at an all-time high, while Security Bank Corp climbed 3.1% to its highest close in over eight weeks.
For the week, the Philippine stock index added 1.7% in its second straight weekly gain.
Singapore shares rose for a second straight session and closed at their highest in 10 weeks, on better-than-expected gross domestic product (GDP) numbers and the central bank's decision to keep its monetary policy unchanged.
Keppel Corp Ltd was the biggest boost, ending the day 4.1% higher, while City Developments Ltd closed at its highest in 10 months.
Malaysian shares inched up, helped by utility stocks, but closed 0.5% lower this week.
CIMB Group Holdings Bhd rose 0.5% on Friday, while Tenaga Nasional Bhd climbed 0.6%.
Vietnam equities rose 0.6% to their highest close in more than nine-and-a-half years. For the week, they gained 1.6%.
Indonesia closed slightly lower, while Thailand was closed for a local holiday.
SOUTHEAST ASIAN STOCK MARKETS
Change on day
|Market||Current||Previous close||% move|
|Ho Chi Minh||820.95||815.87||0.62|
Change on year
|Market||Current||End 2016||% move|
|Ho Chi Minh||820.95||664.87||23.5|