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SE Asia Stocks-Indonesia snaps 6 days of falls ahead of cenbank meeting
November 16, 2017 / 10:37 AM / a month ago

SE Asia Stocks-Indonesia snaps 6 days of falls ahead of cenbank meeting

    By Karthika Suresh Namboothiri
    Nov 16 (Reuters) - Indonesian shares climbed more
than 1 percent on Thursday, snapping six straight sessions of
declines, ahead of a central bank policy meeting, while
Philippine stocks gave up early gains to close lower.
    Bank Indonesia is widely expected to keep its key interest
rate unchanged, despite sluggish economic growth, as it
prioritises stability before an anticipated hike in U.S. rates.

    Consumer goods and infrastructure stocks led the rise with
Gudang Garam climbing 5.3 percent to its highest close
since early July, while Telekomunikasi Indonesia
gained 1.7 percent. 
    The index of the 45 most liquid stocks in Indonesia
 surged 1.6 percent.
    Philippine shares fell 0.8 percent to their lowest
close in more than six weeks after rising as much as 0.7 percent
earlier in the day.
    Data released earlier showed that the country's economy
expanded by a faster-than-expected 6.9 percent in the third
quarter from a year earlier.
    SM Investments Corp and Ayala Corp were the
biggest drags, shedding 2.3 percent and 2.7 percent
respectively.
    Fio Dejesus of Manila-based RCBC Securities said
profit-taking in the two stocks sent the index lower.
    Singapore shares dropped for a fifth consecutive
session, weighed down by banks. DBS Group Holdings
shed 1.1 percent, while United Overseas Bank Ltd 
dropped 0.7 percent.
    Vietnam extended gains into a 10th session to close
at its highest since January 2008, supported by consumer staples
and financials.
    Joint Stock Commercial Bank for Foreign Trade of Vietnam
 rose 2.5 percent, while brewer Saigon Beverage Corp
 climbed 3.4 percent.
    Malaysian shares fell 0.3 percent to close at their
lowest in eight months.
    CIMB Group Holdings dropped 1.3 percent to its
lowest close in seven months, while telecommunication services
provider Axiata Group Berhad fell 2.6 percent.
         
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SOUTHEAST ASIAN STOCK MARKETS: CHANGE ON DAY
  Market           Current       Previous     Pct Move
                                 close        
  Singapore        3341.3        3368.7       -0.81
  Bangkok          1691.25       1690.26      0.06
  Manila           8206.44       8273.44      -0.81
  Jakarta          6037.907      5972.311     1.10
  Kuala Lumpur     1718.11       1722.99      -0.28
  Ho Chi Minh      892.8         882.59       1.16
                                              
  Change on year                              
  Market           Current       End 2016     Pct Move
  Singapore        3341.3        2880.76      15.99
  Bangkok          1691.25       1542.94      9.61
  Manila           8206.44       6840.64      19.97
  Jakarta          6037.907      5296.711     13.99
  Kuala Lumpur     1718.11       1641.73      4.65
  Ho Chi Minh      892.8         664.87       34.28
 
 (Reporting by Karthika Namboothiri in Bengaluru; Editing by
Subhranshu Sahu)
  

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