May 4, 2018 / 4:03 AM / 18 days ago

SE Asia Stocks-Indonesia hits 9-mth low on growth concerns

    * Indonesia to release annual GDP data on Monday
    * Malaysia headed for third straight session of declines 
    * Singapore touches over two-week low

    By Sumeet Gaikwad
    May 4 (Reuters) - Most Southeast Asian stock markets fell on
Friday, as investors turned cautious ahead of the release of
U.S. payrolls data later in the day, with Indonesia down on
fears economic growth rate will weaken in the first quarter.
    The U.S. jobs report for April will likely underscore labour
market strength. Nonfarm payrolls probably increased by 192,000
jobs last month, according to a Reuters survey of economists,
after rising only 103,000 in March.
    Indonesia's GDP growth rate likely was a touch weaker in
2018's first three months than in the previous quarter as
lacklustre consumption continued to constrain the pace, a
Reuters poll showed. The country is due to release its annual
GDP data on May 7.
    Indonesian stocks fell to their lowest since August
2017 as financials weighed, with Bank Central Asia
falling 1 percent and Bank Negara Indonesia declining
2.3 percent.
    An index of the country's 45 most liquid stocks
fell nearly 1 percent.
    Foreign investors net sold $55.3 million worth of Indonesian
stocks on Thursday, stock exchange data showed. 
    "We suspect the murky economic outlook amid low inflationary
pressures have triggered the selloff. Further, we remain
concerned that Bank Indonesia may be too much behind the yield
curve," said Taye Shim, head of research at Mirae Asset
Sekuritas.
    "If the exogenous risk factors persist, pre-emptive policy
tightening might need to be accompanied by politically-sensitive
decisions of raising fuel and energy prices," DBS Bank said in a
note.
   Singapore hit its lowest in over two weeks, with
lenders DBS Group Holdings falling 1.7 percent and
United Overseas Bank sliding 1.3 percent. 
    Malaysian shares shed 0.3 percent on financials.
Index heavyweights CIMB Group Holdings fell 1.6 
percent, while Public Bank was off 0.6 percent. 
    Markets are expected to closely watch the outcome of 
general elections scheduled next week. 
    "Investors will be looking forward to policy continuity
which will be crucial to ensuring economic stability after the
election," DBS Bank said in a note.
    Philippine shares were flat, while Thailand
edged lower.

    
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SOUTHEAST ASIAN STOCK MARKETS: AS AT 0324 GMT
    
    
 Change on day                             
 Market          Current   Previous Close  Pct Move
 Singapore       3546.15   3575.68         -0.83
 Bangkok         1787.42   1790.8          -0.19
 Manila          7539.03   7535.1          0.05
 Jakarta         5815.856  5858.732        -0.73
 Kuala Lumpur    1846.16   1851.8          -0.30
 Ho Chi Minh     1029.46   1026.46         0.29
                                           
 Change on year                            
 Market          Current   End 2016        Pct Move
 Singapore       3546.15   3402.92         4.21
 Bangkok         1787.42   1753.71         1.92
 Manila          7539.03   6840.64         10.21
 Jakarta         5815.856  6355.654        -8.49
 Kuala Lumpur    1846.16   1796.81         2.75
 Ho Chi Minh     1029.46   664.87          54.84
 
 (Reporting by Sumeet Gaikwad in Bengaluru; Editing by Biju
Dwarakanath)
  
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