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SE Asia Stocks-Vietnam sheds nearly 1 pct; Thailand gains for 6th session
October 31, 2017 / 10:31 AM / 22 days ago

SE Asia Stocks-Vietnam sheds nearly 1 pct; Thailand gains for 6th session

    By Devika Syamnath
    Oct 31 (Reuters) - Southeast Asian stocks were largely
subdued on Tuesday after data showed China's factory growth
slowed more than expected in October, with Vietnam dropping
nearly 1 percent, while Thailand gained for the sixth session on
strong industrial output data.
    In Vietnam, real estate developer FLC Faros Constructions
 fell 4.6 percent after briefly touching a record high
earlier in the session, dragging the main index.
    The builder said its third-quarter net profit fell 20.8
percent, year over year.
    "A purely speculative stock in the Vietnamese market that
has been going up ceiling after ceiling in the last
week-and-a-half has become one of the largest companies on the
stock market and so has an exaggerated impact on the index,"
said Fiachra Mac Cana, head of research at Ho Chi Minh
Securities. 
    Singapore shares closed down 0.1 percent, with the
city-state's largest mobile network operator Singtel
pulling down the index.
    The index gained 4.8 percent this month, after two straight
months of losses.
    "Southeast Asian markets fared mixed as the fall in China
PMI numbers... affected the economies with strong trade ties
with China namely Malaysia, Singapore and Vietnam," said Redza
Rahman, head of research at MDIF.
    Growth in China's manufacturing sector cooled more than
expected in October in the face of tighter pollution rules that
are forcing many steel mills, smelters and factories to curtail
production over the winter.
    Meanwhile, Thai shares closed 0.2 percent higher,
buoyed by industrials and energy stocks. 
    Thailand's industrial output rose for a third straight month
in September on an annual basis, beating forecasts. The
country's October inflation data is due on Wednesday.

    Airports of Thailand rose 1.7 percent, while
renewable energy company Energy Absolute surged 8.1
percent.
    The Thai index has risen nearly 3 percent this month,
marking its fifth straight monthly gain.
    Indonesian shares snapped three straight sessions of
declines to close 0.5 percent firmer.
    The index has risen 1.8 percent this month, its ninth
straight monthly gain.
    Bank Central Asia, the country's largest lender by
market value, led the gains and rose 2.3 percent, while Chandra
Asri Petrochemical surged 7 percent.
    The Philippine stock market was closed on Tuesday and
will remain shut on Wednesday on account of public holidays.
   
For Asian Companies click;  

SOUTHEAST ASIAN STOCK MARKETS
  Change on day                                        
  Market           Current       Previous     Pct Move
                                 close        
  Singapore        3374.08       3375.97      -0.06
  Bangkok          1721.37       1718.66      0.16
  Jakarta          6005.784      5974.077     0.53
  Kuala Lumpur     1747.92       1748.35      -0.02
 Ho Chi Minh       837.28        845.2        -0.94
                                              
  Change on year                              
  Market           Current       End 2016     Pct Move
  Singapore        3374.08       2880.76      17.12
  Bangkok          1721.37       1542.94      11.56
  Jakarta          6005.784      5296.711     13.39
  Kuala Lumpur     1747.92       1641.73      6.47
  Ho Chi Minh      837.28        664.87       25.93
 

 (Reporting by Devika Syamnath; Editing by Amrutha Gayathri)
  

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