January 18, 2017 / 10:36 AM / 7 months ago

SE Asia Stocks-Indonesia snaps seven-day losing streak; S'pore falls

By Shashwat Pradhan
    Jan 18 (Reuters) - Indonesian shares rose on Wednesday,
snapping a seven-session losing streak, with consumer staples
accounting for nearly half of the gains while Singapore fell for
a third straight day.
    In Asia, MSCI's ex-Japan Asia-Pacific shares index
 rose 0.4 percent, as investors judged U.S.
President-elect Donald Trump's concerns over a stronger dollar
will be beneficial to some of the regional bourses. 
    In an interview with the Wall Street Journal, Trump said
U.S. companies "can't compete with (China) now because our
currency is strong and it's killing us." 
    The dollar index, which measures the greenback
against a basket of six major peers, last stood at 100.50, up
0.2 percent, after falling to 100.26 on Tuesday, its lowest
since Dec. 8.
    "At the current level that the dollar has reached from six
months ago, I think it is already high enough to invite some
investments into exporting countries," said Joseph Roxas,
president of Manila-based Eagle Equities Inc.
    Jakarta posted its first rise in eight sessions with
gainers outnumbering losers.
    Investors are keeping a close eye on Indonesia's central
bank which is widely expected to keep its benchmark policy rate
unchanged on Thursday as it monitors the rupiah's movement at a
time of global uncertainty and price pressures at
home. 
    To maintain the balance of Indonesia's macroeconomic
stability and the recovery of the domestic economy, policy rates
are expected to remain unchanged in this month, said Rahmi
Marina, analyst at Maybank Kim Eng Securities, in a note.
    Philippine stocks rose half a percent and snapped
five straight sessions of falls, powered by real estate and
telecom stocks.
    "Philippines is rebounding a bit after a few days of
corrections. Last few days were really just corrections. We did
not even break 7,100 (level)," Roxas said.
    At the other end, Singapore recorded a third straight
session of fall with financials accounting for nearly half of
the losses. United Overseas Bank Ltd, the city-state's
third-biggest lender, closed 1 percent lower after recording its
biggest intraday percentage loss in nearly eight weeks.
    Thai stocks dipped with consumer staples and energy
stocks accounting for most of the losses.

For Asian Companies click;  

SOUTHEAST ASIAN STOCK MARKETS
  STOCK MARKETS                                        
  Change on day                                        
  Market           Current       previous     Pct Move
                                 close        
  Singapore        3000.22       3012.77      -0.42
  Bangkok          1560.83       1566.84      -0.38
  Manila           7156.36       7123.33      0.46
  Jakarta          5294.784      5266.938     0.53
  Kuala Lumpur     1665.02       1663.03      0.12
 Ho Chi Minh       683.28        684.71       -0.21
                                              
  Change this                                 
 year                                         
  Market           Current       End 2016     Pct Move
  Singapore        3000.22       2880.76      4.15
  Bangkok          1560.83       1542.94      1.16
  Manila           7156.36       6952.08      2.94
  Jakarta          5294.784      5296.711     -0.04
  Kuala Lumpur     1665.02       1641.73      1.42
 Ho Chi Minh       683.28        672.01       1.68
 

 (Reporting by Shashwat Pradhan in Bengaluru; Editing by Vyas
Mohan)

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