October 7, 2019 / 10:17 AM / 15 days ago

SE Asia Stocks-Singapore recovers on Keppel, Sembcorp

    * Consumer, banking stocks weigh on Indonesia
    * Thailand advances on banking stocks

    By Soumyajit Saha
    Oct 7 (Reuters) - Singapore shares snapped three sessions of
losses on Monday, helped by Keppel Corp and Sembcorp Industries
as the two index heavyweights reached settlements with indebted
Brazilian firm Sete Brasil, while consumer and banking stocks
sent Indonesia lower.
    Keppel Corp and Sembcorp Industries said
they struck settlements with Sete Brasil over long-standing
contracts to build drillships and rigs.
    Singapore's FTSE Straits Times Index closed 0.7%
higher, after shedding 2.2% in the previous three sessions.   
Keppel Corp rose 1.7%, while Sembcorp Industries gained 1%.
    Meanwhile, investors waited to see if the United States and
China could find a way at upcoming trade talks to end their more
than year-long tariff dispute. 
    Earlier in the day, Bloomberg reported that Chinese
officials had narrowed down the list of topics they were willing
to negotiate on in talks, adding to market uncertainties.

    Indonesian shares dropped over 1%, dragged mainly by
the consumer and banking sectors. 
    Consumer goods maker Unilever Indonesia lost 3%,
while lender Bank Rakyat Indonesia (Persero) dropped
1.3%.
    A lower-than-expected consumer confidence in September
contributed to the downturn in the market, said Hariyanto
Wijaya, head of research at Mirae Assets Sekuritas.
    Indonesia's consumer confidence index was at 121.8 in
September, against 123.1 in August, according to a central bank
survey out on Friday.
    Thai shares advanced in thin trade, with banking
stocks leading the gains. Lender Kasikornbank rose
2%. 
        
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SOUTHEAST ASIAN STOCK MARKETS
  STOCK MARKETS                                             
  Change on the day                                         
  Market             Current        Previous      Pct Move
                                    close         
  Singapore          3099.48        3078.36       0.69
  Bangkok            1613.71        1605.96       0.48
  Manila             7683.22        7704.6        -0.28
  Jakarta            6000.582       6061.252      -1.00
  Kuala Lumpur       1559           1557.67       0.09
 Ho Chi Minh         983.09         987.59        -0.46
                                                  
  Change so far in                                
 2019                                             
  Market             Current        End 2018      Pct Move
  Singapore          3099.48        3068.76       1.00
  Bangkok            1613.71        1563.88       3.19
  Manila             7683.22        7,466.02      2.91
  Jakarta            6000.582       6,194.50      -3.13
  Kuala Lumpur       1559           1690.58       -7.78
  Ho Chi Minh        983.09         892.54        10.15
 

 (Reporting by Soumyajit Saha in Bengaluru; Editing by
Subhranshu Sahu)
  
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