September 29, 2017 / 10:48 AM / a year ago

SE Asia Stocks-Indonesia rises 1 pct as cbank signals pause on rate cuts

    By Aaron Saldanha
    Sept 29 (Reuters) - Indonesian shares rose a little over 1
percent on Friday, as signs that the country's central bank was
moving to pause on rate cuts lifted financials, while Thailand
edged up as a double-digit growth in exports cheered investors.
    Indonesia's central bank governor said on Friday that two
cuts in its benchmark rate in the last two months are
"sufficient", after it surprised markets by reducing it
 by a total of 50 basis points to spur economic
    The Indonesian index closed slightly above 1
percent, boosted by Bank Rakyat Indonesia and Bank
Central Asia.
    The index eked out a marginal 0.6 percent increase on month.
    Thailand settled up 0.4 percent, supported by data
showing exports grew about 16 percent, boosting the country's
current account surplus. 
    Consumer staples and financials led the gains, with
convenience store operator CP All Pcl hitting a 
record closing high.
    Thai shares ended September up 3.5 percent, their best month
since July last year.
    The Philippine index edged up, as telecom stocks and
utilities climbed. 
    Telecom provider PLDT Inc closed up 3.8 percent.
    The index posted a 2.7 percent monthly increase.
    Singapore fell 0.2 percent, ending the week steady,
as financials dragged.
    "Singapore banks have still relatively held up pretty well,"
said Joel Ng, an analyst with Singapore-based KGI Securities.
"They have had a good run with 25 percent gains over the last
    DBS Group Holdings, the largest lender by market
capitalisation, fell 0.4 percent. It has however risen about s38
percent over the last one year up to Thursday's close.
    Oversea-Chinese Banking Corp and United Overseas
Bank Ltd, which both lost more than 0.5 percent on
Friday, have gained over 25 percent during the same period.
     Malaysian shares closed at a two-month low, their
ninth straight session of losses, the worst losing streak in
more than seven years.

For Asian Companies click;  

  Market          Current      Previous Close  Pct Move
  Singapore       3219.91      3227.14         -0.22
  Bangkok         1673.16      1666.36         0.41
  Manila          8171.43      8156.04         0.19
  Jakarta         5900.854     5841.047        1.02
  Kuala Lumpur    1755.58      1758.06         -0.14
  Ho Chi Minh     804.42       804.82          -0.05
  Change on year                               
  Market          Current      End 2016        Pct Move
  Singapore       3219.91      2880.76         11.77
  Bangkok         1673.16      1542.94         8.44
  Manila          8171.43      6840.64         19.45
  Jakarta         5900.854     5296.711        11.41
  Kuala Lumpur    1755.58      1641.73         6.93
  Ho Chi Minh     804.42       664.87          20.99

 (Reporting by Aaron Saldanha; Editing by Biju Dwarakanath)
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