By Chandini Monnappa
Oct 12 (Reuters) - Southeast Asian stock markets gained on
Thursday, tracking a rally in global equities, with Singapore
leading the gains and Thailand hitting a 24-year peak yet again.
Asian stocks rose to a decade-high as Wall Street hit record
closes overnight after a report that a market-friendly candidate
was being pushed as Janet Yellen's successor at the helm of the
Federal Reserve.
Meanwhile, the dollar weakened after the U.S. central bank's
last policy meeting minutes released on Wednesday showed a
guarded view on inflation.
"The positive performance that Wall Street witnessed helped
boost sentiment in our markets," said Liu Jinshu, director of
research at NRA Capital.
Singapore shares climbed as much as 0.8 percent to a
more than eight-week high.
Financial stocks accounted for nearly half the gains on the
index, with Oversea-Chinese Banking Corp Ltd and
United Overseas Bank Ltd gaining more than 1 percent
each.
Philippine shares climbed as much as 0.3 percent,
driven largely by industrial stocks.
"Philippine markets are advancing because there is some
selective buying into heavyweights such as Ayala Corp and SM
Investments," said Jeffrey Lucero, equity research analyst at
RCBC Securities.
SM Investments Corp and Ayala Corp each
gained as much as 1.7 percent.
Thai shares rose as much as 0.3 percent and were set
for a third straight winning session, led by financials and
energy stocks.
For Asian Companies click;
SOUTHEAST ASIAN STOCK MARKET: CHANGE AT 0356 GMT
Market Current previous close Pct Move
Singapore 3303.04 3280.28 0.69
Bangkok 1718.20 1714.14 0.25
Manila 8379.33 8358.47 0.25
Jakarta 5903.162 5882.787 0.35
Kuala Lumpur 1757.24 1757.21 0.00
Ho Chi Minh 815.07 813.95 0.14
Change on year
Market Current End 2016 Pct Move
Singapore 3303.04 2880.76 14.66
Bangkok 1716.48 1542.94 11.25
Manila 8379.33 6840.64 22.5
Jakarta 5903.162 5296.711 11.45
Kuala Lumpur 1757.24 1641.73 7.04
Ho Chi Minh 815.07 664.87 22.6
(Reporting by Chandini Monnappa, additional reporting by
Shanima A; Editing by Amrutha Gayathri)