S'pore gains on strong GDP data; Philippines down

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(Feb 17): Singapore stocks closed higher on Friday on strong economic data, while Indonesian stocks fell for a third straight session dragged down by consumer discretionary and financial shares.

Singapore's FTSE Straits Times Index rose for a third straight session, up 0.4%, led by financials after data showed the city-state's economy grew 12.3% in the fourth quarter, beating the government's initial estimate of 9.1%.

The index gained 0.2% on the week.

United Overseas Bank Ltd rose 1.7% to close at a two-month high, despite posting a fall in quarterly profit.

"UOB delivered the best 4Q16 result of its peers, punctuated with what appeared to a proactive 'clean-up' of oil support services sector asset quality," Citi Research said in a note.

Offshore oil-rig builder Keppel Corporation Ltd gained 1.7% to close at its highest since November 2015, while Singapore Technologies Engineering Ltd jumped 6.5% to a near 22-month high.

Indonesian shares fell 0.5% to their lowest in two weeks. The index lost 0.4% on the week.

Astra International Tbk PT, a conglomerate with interests in the automobile sector, fell 2.5% to its lowest since Jan 30,2017. Bank Mandiri (Persero) Tbk PT fell for a third session, down 1.1%.

Philippines shares shed 0.5%, weighed down by industrial and telecom stocks. The index gained 0.1% on the week.

Telecom giant PLDT Inc was the biggest loser on the index, down 2.7%. Conglomerate Aboitiz Equity Ventures Inc shed 1.1%.

Thai shares ended marginally higher, eking out a third session of gains, but ended the week 0.4% lower.

Telecom and consumer discretionary stocks led gains, with Advanced Info Service PCL up 1.2% to close at its highest in six months. PTT Pcl, the country's biggest energy company, gained 0.5%.

SOUTHEAST ASIAN STOCK MARKETS
Change on the day

Market             Current        Prev close    % move
Singapore          3107.65        3096.69       0.35
Bangkok            1577.84        1576.05       0.11
Manila             7244.79        7283.25       -0.53
Jakarta            5350.932       5377.998      -0.50
Kuala Lumpur       1707.68        1707.59       0.01
Ho Chi Minh        707.83         709.35        -0.21

Change this year

Market             Current        End 2016      % move
Singapore          3107.65        2880.76       7.88
Bangkok            1577.84        1542.94       2.26
Manila             7244.79        6840.64       5.90
Jakarta            5350.932       5296.711      1.02
Kuala Lumpur       1707.68        1641.73       4.02
Ho Chi Minh        707.83         664.87        6.46