* Financials drag Singapore lower
* Philippines recovers some lost ground
* Energy stocks help Thailand rise
By Shruti Sonal
Jan 3 (Reuters) - Most Southeast Asian stock markets
extended gains on Friday after Wall Street notched another
record high on China's policy easing move and a private survey
showing solid production growth in the world's second-largest
economy.
Broader Asian shares .MIAPJ0000PUS pared early gains after
news of U.S. air strikes in Iraq, but markets in Southeast Asia
remained relatively steady.
"Investors appear to bet that the initial caution will pass,
preferring to focus on the broader global recovery story," said
Jeffrey Halley, senior market analyst, Asia Pacific at OANDA.
A survey on Thursday showed Chinese production activity in
December continued to grow and business confidence strengthened,
indicating a recovery in the economy in the wake of a Phase 1
trade deal with the United States. The Chinese central bank said on Wednesday it was cutting
the amount of cash that all banks must hold as reserves,
releasing around 800 billion yuan ($114.91 billion) in funds to
shore up the slowing economy.
Philippine shares .PSI climbed nearly 1% after a more than
2% drop on Thursday, helped by industrial and consumer stocks.
Port operator International Container Terminal Services Inc
ICT.PS and beverage products maker Universal Robina Corp
URC.PS were the top percentage gainers on the benchmark index.
Malaysian equities .KLSE rose 0.5%, helped by healthcare
and basic material stocks. IHH Healthcare Bhd IHHH.KL and
Press Metal Aluminium Holdings Bhd PMET.KL gained 2.2% and
1.7%, respectively.
Meanwhile, data showed exports dropped for the fourth
straight month in November, contracting 5.5% from a year earlier
on lower shipments of manufactured goods and commodities.
Energy stocks helped Thailand shares .SETI rise to their
highest since Nov. 28 on the back of higher oil prices after
U.S. air strikes killed Iran and Iraq officials. O/R
Oil and gas giant PTT Pcl PTT.BK advanced 2.2%, while Star
Petroleum Refining Pcl SPRC.BK rose over 3.6%.
Singapore stocks .STI fell 0.5%, dragged by financials.
DBS Group Holdings DBSM.SI slid as much as 1% after
China's Ant Financial, an affiliate of Alibaba Group Holdings
BABA.N , said on Thursday it had joined the race for a digital
banking licence in the city state. Asian Companies click;
SOUTHEAST ASIAN STOCK MARKETS AS AT 0336 GMT
STOCK MARKETS
Change on the day
Market Current Previous close Pct Move
Singapore 3232.32 3252 -0.61
Bangkok 1599.76 1595.82 0.25
Manila 7818.73 7742.53 0.98
Jakarta 6302.477 6283.581 0.30
Kuala Lumpur 1610.06 1602.5 0.47
Ho Chi Minh 970.36 966.67 0.38
Change so far in 2020
Market Current End 2019 Pct Move
Singapore 3232.32 3222.83 0.29
Bangkok 1599.76 1579.84 1.26
Manila 7818.73 7,815.26 0.04
Jakarta 6302.477 6,299.54 0.05
Kuala Lumpur 1610.06 1588.76 1.34
Ho Chi Minh 970.36 960.99 0.98
1 = 4.1000 ringgit)
(Editing by Subhranshu Sahu)