September 24, 2018 / 10:24 AM / 2 months ago

SE Asia Stocks-Indonesia falls over 1 pct, Singapore erases early gains

    * Bank Indonesia seen raising rate on Thursday
    * Thailand snaps 4 straight sessions of gains

    By Devika Syamnath
    Sept 24 (Reuters) - Indonesian shares fell over 1 percent on
Monday amid ongoing presidential elections in Southeast Asia's
largest economy, while Singapore stocks came off a near 4-week
high to close slightly changed.
    Indonesian President Joko Widodo launched his re-election
campaign on Friday, looking to win over big blocs of millennial
and Muslim voters as the country sails into choppy waters.

    The Jakarta SE Composite Index closed lower for the
first time in four sessions, dragged by consumer stocks and
financials. Astra International declined 2.4 percent,
while Bank Negara Indonesia (Persero) closed 3.6
percent lower.
    Investor sentiment was also hit as broader Asian peers
registered losses, after China decided to scrap plans to hold
diplomatic discussions with the United States, accusing it of
engaging in "trade bullyism".
    "The rebound in risk appetite witnessed last week we think
may be done, with investors likely sidelined pending headline
risks from Sino-US trade talks," OCBC said in a note to clients.
    The United States and China imposed tariffs on each other's
goods on Monday, relentlessly pursuing an increasingly bitter
trade dispute that is expected to hurt global economic growth.
    Meanwhile, a Reuters poll showed Indonesia's central bank is
widely expected to raise its benchmark interest rate for the
fifth time since mid-May on Thursday, hours after an anticipated
third rate hike this year by the U.S. Federal Reserve.

    Thai shares snapped four consecutive sessions of
gains, weighed down by materials and industrials. Siam Cement
Pcl was the top drag with a drop of 1.3 percent.
    Malaysian shares fell for the first time in four
sessions, with power provider Tenaga Nasional leading
the decline, down over 1 percent. 
    Singapore shares erased earlier gains and closed
slightly higher, marking their fourth straight session in the
black, as upbeat bank and real estate stocks countered weak
consumer discretionary and industrial counters.
    United Overseas Bank was the top boost with a rise
of 1.4 percent, while Genting Singapore Ltd was among
the biggest drags.
    The city-state's core inflation gauge in August rose 1.9
percent from a year earlier, unchanged from July. The median
forecast in a Reuters poll was for a 2.0 percent rise.

    Philippine stocks advanced 0.7 percent, helped by
financials and industrials. Bank of the Philippine Islands
 was the top boost with a 5.1 percent jump.
    Real estate and utility stocks helped Vietnam shares
finish at their strongest level in more than three months.
       
    For Asian Companies click;  

SOUTHEAST ASIAN STOCK MARKETS
 Change on day                            
 Market          Current  Previous Close  Pct Move
 Singapore       3219.16  3217.68         0.05
 Bangkok         1750.84  1756.12         -0.30
 Manila          7433.61  7383            0.69
 Jakarta         5882.22  5957.744        -1.27
 Kuala Lumpur    1800.17  1810.64         -0.58
 Ho Chi Minh     1011.29  1002.97         0.83
                                          
 Change on year                           
 Market          Current  End 2017        Pct Move
 Singapore       3219.16  3402.92         -5.40
 Bangkok         1750.84  1753.71         -0.16
 Manila          7433.61  8558.42         -13.14
 Jakarta         5882.22  6355.654        -7.45
 Kuala Lumpur    1800.17  1796.81         0.19
 Ho Chi Minh     1011.29  984.24          2.75
 

 (Reporting by Devika Syamnath in Bengaluru; Editing by
Subhranshu Sahu)
  
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