October 20, 2017 / 10:09 AM / a year ago

SE Asia Stocks-Sluggish; Indonesia recovers on cenbank economic view

    By Hanna Paul
    Oct 20 (Reuters) - Southeast Asian markets were largely
sluggish on Friday, while Indonesia snapped a three-day
losing streak after a positive economic outlook by the country's
central bank boosted sentiment.
    Indonesia's central bank said it expects gross domestic
product (GDP) growth for the year to be better than initially
forecast. The bank stayed pat on its benchmark rates after
trimming them in the past two months.
    The Jakarta benchmark closed higher for the third straight
    The Indonesian sub-index comprising 45 most liquid
stocks on the benchmark, ended 0.4 percent higher. 
    Meanwhile in the Philippines, investors capitalised
on the recent uptrend and booked profits, dragging the benchmark
down 0.8 percent. The index also recorded its first weekly loss
in three.  
    Data from the central bank that showed a surplus in the
country's balance of payments in September, for the first time
in five months, failed to cheer.
    "If you look at the valuation of the Philippine market, it's
more or less expensive compared to regional peers," said Manny
Cruz, an analyst from Asiasec Equities Inc. 
    "The market is getting closer to 21 times forward
price-to-earnings ratio for 2018 as against 17 times for
regional counterparts like Indonesia, Thailand and Vietnam. We
see some profit taking as the market scaled new highs," Cruz
    Thai shares closed higher, led by gains in real
estate and consumer discretionary sectors. Airports of Thailand
 and property development company Central Pattana
 were the best performers.
    Stocks in Malaysia were muted. Data showed that the
country's consumer price index gained 4.3 percent in September,
growing for the second straight month.
    Vietnam shares ended marginally higher.

    For Asian Companies click;  

  Change on the day                                
  Market             Current     Previous   Pct
                                 close      Move
  Singapore          3340.73     3334.91    0.17
  Bangkok            1692.58     1683.43    0.54
  Manila             8420.95     8487.37    -0.78
  Jakarta            5929.549    5910.53    0.32
  Kuala Lumpur       1740.65     1743.99    -0.19
  Ho Chi Minh        826.84      828.93     -0.25
  Change on year                            
  Market             Current     End 2016   Pct
  Singapore          3340.73     2880.76    15.97
  Bangkok            1692.58     1542.94    9.70
  Manila             8420.95     6840.64    23.1
  Jakarta            5929.549    5296.711   11.95
  Kuala Lumpur       1740.65     1641.73    6.03
  Ho Chi Minh        826.84      664.87     24.4
 (Reporting by Hanna Paul; Editing by Vyas Mohan)
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