By Aditya Soni
Jan 3 (Reuters) - Most Southeast Asian stock markets rose on Wednesday, tracking gains across Asia, with the Philippines rising more than 1 percent to a fresh record on its first trading day of the year.
A bevy of strong manufacturing data that underscored an upturn in world economic growth boosted risk appetite, lifting broader Asian stocks to a fresh decade high. MSCI's index of Asia-Pacific shares outside Japan edged up 0.1 percent, having jumped 1.4 percent on Tuesday in its best performance since last March.
"The regional markets are really bullish about the year ahead, so that's influencing their performance today," saidLexter Azurin, an analyst with AB Capital Securities in Manila.
Philippine shares climbed 1.3 percent to an all-time high, with industrials and financials leading the gainers.
"I think the (Philippine) tax reform package is the very essence of the infrastructure push of the government, so we are seeing a lot of optimism on that aspect," Azurin said.
Philippine President Rodrigo Duterte said last month lawmakers were expected to pass more measures in 2018 under his comprehensive tax reform agenda, after signing a bill containing the first batch of reforms into law. Index heavyweight SM Investments Corp surged to a fresh all-time peak, while SM Prime Holdings Inc rose to its highest since Nov. 9.
Singapore shares climbed to a near three-week high, propelled by financials, which accounted for more than half of the gains.
DBS Group Holdings Ltd and Oversea-Chinese Banking Corp Ltd rose 1 percent and 0.4 percent, respectively.
Thai shares also firmed on the first trading day of the year, ahead of the release of inflation data.
Thailand's headline inflation rate likely held steady in December, staying just below the central bank's target range, while November factory output growth accelerated, according to the median forecast of nine economists surveyed by Reuters. Bucking the trend, Indonesian shares slipped, dragged by consumer staples and stocks of telecommunication services, retreating from an all-time intraday high hit in the previous session.
Unilever Indonesia led the fall as it dipped 2.2 percent, while Telekomunikasi Indonesia (Persero) Tbk Perusahaan Perseroan PT dropped 2 percent, its biggest intraday percentage drop since Nov. 8.
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Change as of 0319GMTMarket Current Previous closePct MoveSingapore3440.83 3430.30.31Bangkok1764.69 1753.71 0.63Manila 8670.19 8558.42 1.31Jakarta6294.0886339.238-0.71Kuala Lumpur 1791.79 1782.70.51Ho Chi Minh1001.94 995.770.62
Change on year Market Current End prev yr Pct MoveSingapore3440.83 3402.92 1.11Bangkok1764.69 1764.69 0.00Manila 8670.19 8,558.421.31Jakarta6294.0886,355.65-0.97Kuala Lumpur 1791.79 1796.81 -0.28Ho Chi Minh1001.94 984.241.80
(Reporting by Aditya Soni in Bengaluru; Editing by Amrutha Gayathri)
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