July 30, 2018 / 4:49 AM / in 2 months

SE Asia Stocks-Indonesia set for 7th straight gaining session; Singapore falls

    * Philippines set for 5th consecutive winning session
    * Singapore shares edge lower as lenders fall

    By Syed Saif Hussain Naqvi
    July 30 (Reuters) - Most Southeast Asian stock markets eked
out minor gains on Monday, with Indonesia on course for its
seventh straight winning session, while Singapore shares edged
lower for a second session.
    Broader Asian shares drifted lower ahead of the U.S. Federal
Reserve meeting this week. The Fed is widely expected to stand
pat while reaffirming the outlook for further gradual rate
rises.
    Indonesian shares climbed 0.3 percent, led by energy
firms.
    Coal miners Adaro Energy Tbk Pt and Indika Energy
Tbk Pt extended gains and rose 6.9 percent and 9.4
percent, respectively, after Indonesia's trade ministry last
week postponed for six months the rules that require coal and
crude palm oil export shipments to use Indonesian insurance.

    Philippine shares gained 0.4 percent, set for their
fifth consecutive rising session, on the back of industrials.
    Aboitiz Equity Ventures Inc, up 3.3 percent, and JG
Summit Holdings Inc, up 3.2 percent, were among the top
gainers on the benchmark index. 
    Philippine and Indonesian equities have been the hardest hit
over the past few months on account of the depreciation of the
peso and the rupiah, said Manny Cruz, analyst at Asiasec
Equities Inc.
    These stock markets are now at attractive valuations and
most investors believe that the fundamentals continue to be very
promising, added Cruz.
    Vietnam shares also climbed and were headed for a
third gaining session in a row, after economic data released
over the weekend.
     Vietnam's industrial production index rose 14.3 percent in
July from a year earlier, while the consumer price index rose
4.46 percent in July from a year earlier, government data
released on Sunday showed.
    The country's trade deficit came in at $300 million in July,
compared with a trade surplus of $800 million in June, data
showed on Sunday. 
    Meanwhile, Singapore shares fell 0.6 percent as top
lenders Oversea-Chinese Banking Corp, United Overseas
Bank and DBS Group Holdings slipped.
    Thai markets were closed for a local holiday.
     
For Asian Companies click;  

SOUTHEAST ASIAN STOCK MARKETS as at 0426 GMT
  Change on the                                    
 day                                       
  Market          Current      Previous    Pct Move
                               close       
  Singapore       3305.19      3324.98     -0.60
  Manila          7731.52      7701.38     0.39
  Jakarta         6005.324     5989.136    0.27
  Kuala Lumpur    1767.85      1769.14     -0.07
 Ho Chi Minh      942.55       935.52      0.75
                                           
  Change on year                           
  Market          Current      End 2017    Pct Move
  Singapore       3305.19      3402.92     -2.87
  Manila          7731.52      8558.42     -9.66
  Jakarta         6005.324     6355.654    -5.51
  Kuala Lumpur    1767.85      1796.81     -1.61
  Ho Chi Minh     942.55       984.24      -4.24
 


 (Editing by Amrutha Gayathri)
  
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