March 14, 2019 / 10:09 AM / 7 months ago

SE Asia Stocks-Indonesia rises after Fitch affirms rating; others subdued

    * Indonesia gained from improved risk appetite towards
markets - Fitch
    * Philippines, Malaysia and Thailand edge lower

    By Rashmi Ashok
    March 14 (Reuters) - Indonesian shares rose on Thursday
after Fitch affirmed Jakarta's rating with a stable outlook,
while other southeast Asian markets struggled as investors
turned cautious amid mixed economic data from China.
    The main Jakarta stock index, which had traded
sideways early in the day, settled 0.6 percent higher after the
global ratings agency affirmed the country's credit rating at
'BBB' with its outlook as stable.
    "Indonesia has benefitted from improved global risk appetite
towards emerging markets following the U.S. Fed's shift to more
dovish monetary policy communication late last year," the agency
    The agency added that Indonesia's ratings balance a
favourable GDP growth outlook and a small government debt burden
with external challenges. 
    Boosting the index were consumers stocks. Paper product
makers Indah Kiat Pulp & Paper Tbk rose 3.1 percent
while Pabrik Kertas Tjiwi Kimia Tbk gained 6.1
    Singapore index pared losses to end little changed as
lenders UOL Group Ltd rose 1.8 percent while DBS Group
Holdings Ltd added 0.5 percent.
    Vietnamese stocks rose as utilities and industrial
stocks boosted the index, but gains were capped by a drop in
consumer shares.
    Oil and gas refiner Petrovietnam Gas JSC rose 0.7
percent, while construction company Coteccons Construction
 advanced 1.6 percent.
    Meanwhile, Thailand, Malaysia and Philippines lost ground as
caution took hold after mixed data emerged from China.
    China's January-February industrial output slipped to a
17-year low, but investment picked up pace during the period as
the government boosted road and rail projects in a bid to avert
a slowdown.
    Philippine shares were dragged by industrial
heavyweights such as JG Summit Holdings Inc and SM
Investments Corp.
    Malaysian stocks also edged lower, with
telecommunications major Axiata Group Berhad losing
about 1.4 percent. 
    Consumer stocks such as Home Product Center PCL
and Siam Makro PCL dragged the Thai index lower
For Asian Companies click;  

 Change on the day                                
 Market                 Current   Previous close  Pct Move
 Singapore              3197.92   3195.59         0.07
 Bangkok                1635.88   1639.67         -0.23
 Manila                 7750.42   7766.15         -0.20
 Jakarta                6413.266  6377.575        0.56
 Kuala Lumpur           1674.52   1678.24         -0.22
 Ho Chi Minh            1008.44   1005.41         0.30
 Change so far in 2019                            
 Market                 Current   End 2018        Pct Move
 Singapore              3197.92   3068.76         4.21
 Bangkok                1635.88   1563.88         4.60
 Manila                 7750.42   7,466.02        3.81
 Jakarta                6413.266  6,194.50        3.53
 Kuala Lumpur           1674.52   1690.58         -0.95
 Ho Chi Minh            1008.44   892.54          12.99

 (Reporting by Rashmi Ashok; Editing by Shreejay Sinha)
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