(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|
|Ho Chi Minh||707.83||709.35||-0.21|
Change this year
|Market||Current||End 2016||% move|
|Ho Chi Minh||707.83||664.87||6.46|