Southeast Asian stocks closed higher on Thursday led by financial shares, mirroring gains in broader Asia and on Wall Steet overnight, as investors digested the impact of Donald Trump's shock victory in the US presidential race. In Asia, MSCI's broadest index of Asia-Pacific shares outside Japan tracked Wall Street's rally to bounce 2 percent.
Overnight in the US, the Dow jumped 1.4 percent, while the S&P 500 and the Nasdaq both added 1.1 percent, as investors piled into financial and healthcare stocks on hopes of weaker regulation than was expected from a Hillary Clinton presidency. Singapore topped the region with a 1.6 percent gain, its biggest single-day percentage increase in two months, led by financials and industrials.
DBS Group Holdings Ltd closed 3.8 percent higher, hitting a more than three-month high, while Oversea-Chinese Banking Corp Ltd and United Overseas Bank Ltd were up about 2 percent each. Offshore rig builder Keppel Corporation Ltd closed 1.9 percent higher. Vietnam rose 1.2 percent, its biggest percentage gain in a month, led by financials and consumer staples.
Vietcombank closed 1.2 percent higher, while Vietnam Dairy Products JSC was up 0.7 percent. Philippines gained, led by financials. Metropolitan Bank and Trust Co ended 4.2 percent higher, its biggest percentage jump in 10 weeks. Ayala Land Inc and Megaworld Corp fell 0.4 percent and 0.8 percent, respectively. Thailand and Malaysia were up slightly, while Indonesia closed 0.7 percent higher.
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