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SE Asia Stocks-Largely subdued; Indonesia hits record high, Philippines up
April 4, 2017 / 6:05 AM / 4 months ago

SE Asia Stocks-Largely subdued; Indonesia hits record high, Philippines up

3 Min Read

    By Ambar Warrick
    April 4 (Reuters) - Southeast Asian markets were largely
subdued on Tuesday ahead of a meeting between U.S. President
Donald Trump and his Chinese counterpart later this week, while
Philippines gained and Indonesia hit a record
high.
    Asian shares were trading lower tracking an overnight fall
on Wall Street as investors sold stocks and looked to safe
havens with political uncertainty overshadowing positive U.S.
economic data and solid global manufacturing growth.

    Indonesia rose about 0.7 percent, helped by a rally in
energy stocks as coal prices shot up following rail line damage
in cyclone-hit northeast Australia.
    The index of the region's 45 most liquid stocks
rose as much as 1.1 percent to a 6-month high.
    Coal miner Bukit Asam (Persero) Tbk PT touched a
near 4-year high, while PT Adaro Energy rose to a
5-year high.
    Coal prices have risen 5 percent due to transport
disruptions following the cyclone in Australia, Trimegah
Securities said in a note. 
    Philippines rose to a 5-month high, gaining as much
as 1.4 percent, buoyed by real estate and financial stocks.
    "Corporate earnings in the Philippines have been pretty
solid for 2016," said Victor Felix, equity analyst at AB Capital
Securities. 
    "We've also seen foreign inflows over the past few days,
which bucks the recent trend of foreign selling seen in the
Philippines," Felix added. 
    Property developer SMP Prime Holdings rose 2.6
percent while conglomerate Ayala Corp touched an over
five-month high.
    MSCI's broadest index of Asia-Pacific shares outside Japan
 was down 0.2 percent at 0506 GMT
    Singapore was down about 0.3 percent on financial
stocks. DBS Group shed as much as 0.9 percent, while 
Oversea-Chinese Banking Corporation fell as much as
0.8 percent.
    Malaysia and Vietnam were largely unchanged
during the day. 
                
For Asian Companies click;  

SOUTHEAST ASIAN STOCK MARKETS: Change as at 0508 GMT
  Market           Current       previous     Pct Move
                                 close        
  Singapore        3179.41       3187.51      -0.25
  Bangkok          1579.91       1580.86      -0.06
  Manila           7433.29       7341.65      1.25
  Jakarta          5645.547      5606.789     0.69
  Kuala Lumpur     1743.71       1745.49      -0.10
 Ho Chi Minh       723.05        722.38       0.09
                                              
 Change this year                             
  Market           Current       End prev yr  Pct Move
  Singapore        3179.41       2880.76      10.37
  Bangkok          1579.91       1542.94      2.40
  Manila           7433.29       6840.64      8.66
  Jakarta          5645.547      5296.711     6.59
  Kuala Lumpur     1743.71       1641.73      6.21
 Ho Chi Minh       723.05        664.87       8.75
 

 (Reporting by Ambar Warrick in Bengaluru, Additional reporting
by Fransiska Nangoy; Editing by Vyas Mohan)
  

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