Southeast Asian markets: Manila, Singapore lead gains, Jakarta falls

Stocks in Singapore and the Philippines pushed higher in strong trade and Indonesian shares retreated on Monday amid a bout of profit-taking, but demand for growth stocks helped some banking, consumer and commodities-related shares perform well. Surprisingly robust US jobs data bolstered investors' risk appetite although worries over a lack of progress in Greek debt restructuring talks, which are vital to containing the euro zone crisis, triggered late selling.
MSCI's broadest index of Asia-Pacific shares outside Japan edged down 0.1 percent by 0907 GMT after climbing as much as 0.7 percent earlier while the MSCI index for Southeast Asia, made up of selected stocks, was down 0.2 percent. Singapore, among markets seen as relatively greater for global exposure, finished up 0.8 percent on the day. It rose as much as 1.4 percent at one point in strong market turnover of nearly 2 times a 30-day average.
The Philippines' main share index ended up 1.2 percent in a relatively high turnover of 1.39 times a 30-day average. At one point during the day, Manila was 2 percent earlier, setting a new all-time high, as banks rallied on optimism about their earnings. Monday's close was below the record close on February 2.
Bank of the Philippine Islands, the biggest bank by market capitalisation, climbed 3.6 percent, hitting the highest in more than 16 years at one point. Number two Metropolitan Bank and Trust Co surged 5.1 percent to the highest in nearly 14 years. Gains in Indonesia reversed course due to profit taking in banking and consumer stocks. Jakarta's Composite index fell 1 percent on the day in moderate turnover and amid a raft of foreign selling, a Jakarta-based trader said.
Stocks in Thailand were up 0.2 percent by 0900 GMT coming off an intraday rise to six-month highs, while Vietnam ended 0.5 percent lower after five straight sessions of gains. Malaysia's stock market is shut on Monday and Tuesday for religious festivals and will reopen on Wednesday. In Bangkok, consumer stocks, beneficiaries of growing domestic consumption, extended their gains from last week, with Thai food firm Charoen Pokphand Foods Pcl hitting a record high, rising as much as 2.7 percent.