Southeast Asian stocks: Singapore hits 14-month high; Philippines up

Singapore shares ended higher in cautious trade on Monday after hitting their highest in fourteen months, while three out of the five other Southeast Asian markets ended lower, in line with broader Asia. Singapore's FTSE Straits Times Index closed up 0.6 percent after hitting its highest since November 2015 and rising for a fifth straight session.
Financial and industrial stocks led the gains, boosted by Friday's data showing a rebound in US wages and suggesting sustained labour market momentum. As most of Singapore's exports go to the United States, strong US jobs data is positive for the city-state, said Mikey Macainag, an analyst with Sunsecurities Inc. DBS Group Holdings gained 1 percent, while casino operator Genting Singapore Plc gained 2.7 percent.
Philippine shares also extended gains for a fifth straight session, closing 0.4 percent higher, led by gains in telecom shares, with telecom services provider PLDT Inc gaining 4.2 percent. Foreign buying worth about 249 million pesos ($5.02 million) helped the Philippine market, said Manny Cruz, an analyst with Manila-based Asiasec Equities Inc.
On the other end of the spectrum, Indonesian stocks, Thailand stocks and Malaysian stocks fell about half a percent, in line with Asian peers. Asian stocks gave up early gains as investor caution grew before a news conference by US President-elect Donald Trump on Wednesday, where his views on global trade and China will be carefully scrutinised for future policy implications. MSCI's ex-Japan Asia-Pacific shares index was flat on the day, having risen as much as 0.5 percent after posting a loss in the previous session.