Edition:
United Kingdom

Aditya Soni

Australia shares rise as investors retain hopes for trade deal; NZ flat

10 May 2019

May 10 Australian shares ticked up on Friday on hopes that United States and China still might be able to reach a trade deal, even after Washington hiked tariffs on $200 billion of Chinese goods.

Australian shares gain on Telstra, Qantas; NZ at record high

09 May 2019

* Telstra to gain from blocking of Vodafone-TPG deal - analysts

NZ shares gain after cenbank cuts rates; Australia dragged down by telcos

08 May 2019

May 8 New Zealand shares reversed course to end higher on Wednesday after the central bank cut interest rates to boost a slowing economy, while Australia fell as telcos slumped on the competition regulator's opposition to the proposed Vodafone-TPG merger.

Australian shares end higher on iron ore miners; NZ up

07 May 2019

May 7 Australian shares firmed on Tuesday as iron ore miners surged on concerns over supply of the steel-making commodity, though the central bank's decision to leave interest rates unchanged disappointed some doves and capped gains.

SE Asia Stocks-Most slide ahead of US jobs data, cenbank decisions

03 May 2019

* Indonesia top loser, Malaysia outperforms * Philippines notches biggest weekly gain in SE Asia By Aditya Soni May 3 Most Southeast Asian stock markets closed lower on Friday, following Wall Street losses overnight and as caution prevailed ahead of key U.S. jobs data due later in the day and central bank decisions next week. Indonesian shares led losses in Southeast Asia for a second straight session, as reduced hopes of a rate cut by the U.S. Federal Reserve this year hurt risk appetite, leading to falls in all three major U.S. stock indexes on Thursday. Investors now await the U.S. employment data for clues about the health of the world's largest economy. "Global risk appetite has turned more sober post-FOMC as traders digested (Fed Chair Jerome) Powell's 'transient' inflation trajectory and are awaiting tonight's key U.S. nonfarm payrolls, unemployment and wage data," OCBC Bank analysts said in a client note. Broad-based losses pushed the Indonesian benchmark stock index to its lowest close since Jan. 9. The index declined 1.3 percent this week, the most in Southeast Asia. Bank Danamon Indonesia Tbk PT was the top loser for a second consecutive session, declining 15.5 percent to a more than 10-month closing low. Markets participants were also wary of taking risk ahead of a bevy of regional monetary policy decisions next week. The central banks of Malaysia, the Philippines and Thailand are set to meet next week and most of them are expected to cut rates, said Prakash Sakpal, Asia economist at ING. "But the continued strength of the Chinese economy and a trade deal which might be just around the corner could change things quite a bit," he added. Philippine shares slid 0.4 percent, pulled down by weakness in industrials. However, the benchmark stock index notched a weekly gain of 1.3 percent, the most in the region. Vietnam stocks fell to a one-week closing low, while Singapore shares closed little changed. Malaysian shares advanced on the back of gains in telecommunication stocks. Telco Axiata Group Bhd firmed to a two-week high after its digital services arm got a minority investment from Mitsui & Co Ltd. For Asian Companies click; SOUTHEAST ASIAN STOCK MARKETS Change on the day Market Current Previous close Pct Move Singapore 3392.29 3393.33 -0.03 Bangkok 1679.05 1679.17 -0.01 Manila 7967.98 8001.57 -0.42 Jakarta 6319.459 6374.422 -0.86 Kuala Lumpur 1637.3 1632.24 0.31 Ho Chi Minh 974.14 978.5 -0.45 Change on year Market Current End 2018 Pct Move Singapore 3392.29 3068.76 10.54 Bangkok 1679.05 1563.88 7.36 Manila 7967.98 7466.02 6.72 Jakarta 6319.459 6194.498 2.02 Kuala Lumpur 1637.3 1690.58 -3.15 Ho Chi Minh 974.14 892.54 9.14 (Reporting by Aditya Soni in Bengaluru; Editing by Subhranshu Sahu)

SE Asia Stocks-Most fall tracking Wall Street ahead of U.S. jobs data

03 May 2019

* Indonesia shares slide 1.4 pct * Bank Danamon Indonesia Tbk PT biggest drag on Indonesian shares * Philippines bucks trend By Aditya Soni May 3 Most Southeast Asian stock markets slid on Friday, tracking losses on Wall Street, as investors turned cautious ahead of U.S. jobs data, while Philippines continued to rally after S&P Global raised the country's credit rating earlier this week. Indonesian shares led losses in the region after all three major U.S. stock indexes closed lower on Thursday as risk-sentiment dipped in the wake of reduced hopes of a rate cut by the U.S. Federal Reserve this year. Investors now wait await U.S. employment data due later in the day. "Global risk appetite has turned more sober post-FOMC as traders digested Powell's 'transient' inflation trajectory and are awaiting tonight's key U.S. nonfarm payrolls, unemployment and wage data," OCBC Bank analysts said in a client note. Indonesian shares dropped 1.4 percent to a near four-month low on broad-based selling. "With the lower chances of Fed cutting rates, investors are now beginning to factor in the probability of Indonesia's central bank delaying the interest rate cut," said Taye Shim, head of research at Mirae Asset Sekuritas. "We are expecting 50 basis points (cut), some are even expecting 75 basis points within this year. But that kind of expectation is fading away and if that is the case it will have immediate impact on the overall prices including equities," he added. Bank Danamon Indonesia Tbk PT slumped 19.7 percent to its lowest since June 21 and was the biggest drag on the benchmark for a second straight session. Singapore shares shed 0.4 percent, with UOL Group Ltd hitting a more than two-week low, while Oversea-Chinese Banking Corporation Ltd saw its worst day since November 2018. Malaysian shares fell to a more than one-week low, while Vietnam shares saw their worst day in nearly two weeks. Bucking the trend, the Philippines benchmark index firmed to its highest level since Feb. 14, and was on track for a fourth straight session of gains. S&P Global upgraded the country's long-term rating to "BBB+" on strong growth trajectory after market hours on Tuesday. "The credit rating upgrade is exactly the catalyst the market had been waiting for," said Garie Ouano, research Director at China Bank Securities. Gains were broad-based, with index-heavyweight BDO Unibank Inc rising to a near three-month high, while International Container Terminal Services Inc scaled a record peak. For Asian Companies click; SOUTHEAST ASIAN STOCK MARKETS AT 0332 GMT Market Current Previous close Pct Move Singapore 3379.58 3393.33 -0.41 Bangkok 1679.46 1679.17 0.02 Manila 8067.63 8001.57 0.83 Jakarta 6288.482 6374.422 -1.35 Kuala Lumpur 1630.92 1632.24 -0.08 Ho Chi Minh 975.75 978.5 -0.28 Change on year Market Current End 2018 Pct Move Singapore 3379.58 3068.76 10.13 Bangkok 1679.46 1563.88 7.39 Manila 8067.63 7466.02 8.06 Jakarta 6288.482 6194.498 1.52 Kuala Lumpur 1630.92 1690.58 -3.53 Ho Chi Minh 975.75 892.54 9.32 (Reporting by Aditya Soni; Editing by Shreejay Sinha)

SE Asia Stocks-Most drop as Fed dashes rate-cut hopes

02 May 2019

* Indonesia drops 1.3 pct as financials falter * Malaysia declines to over one-week closing low * Philippines gains after S&P raises credit rating By Aditya Soni May 2 Most Southeast Asian stock markets closed lower on Thursday as the U.S. central bank dampened expectations of monetary policy easing in the near term, while Philippine shares rose after S&P Global upgraded the country's credit rating. Indonesian shares dropped 1.3 percent after the U.S. Federal Reserve held interest rates steady on Wednesday and signalled little appetite to adjust them any time soon. "Chair (Jerome) Powell delivered a not-so-dovish delight for equity markets," said Stephen Innes, managing partner and head of trading, SPI Asset Management. Banking stocks dominated losses on the Indonesian benchmark index, which fell the most in Southeast Asia. Bank Danamon Indonesia Tbk PT slumped 19.8 percent to its lowest close since Oct. 24, 2018. Some banks have reported higher loan risks, which has served as a warning for worsening asset quality going forward, said Lucky Ariesandi, a research analyst with PT Bahana Securities. Considering that the Fed will stand pat and the local central bank is expected to cut rates before the end of the year, there are no catalysts for banks in the near term, he added. While a rate cut by Bank Indonesia would help bolster growth, it would put pressure on earnings of the financial sector as margins would thin out. Malaysian shares dropped to a more than one-week closing low, with DiGi.Com Bhd declining the most in four-and-a-half months. Singapore shares, which have outperformed other regional markets so far this year, slipped 0.2 percent. DBS Group Holdings Ltd, Southeast Asia's largest lender, dropped 2.3 percent, its biggest in almost six months, and accounted for most of the losses on the city-state's main index. Philippine stocks firmed to a more than three-week closing high as investors took heart from S&P Global's move to raise the country's long-term rating to "BBB+" on a strong growth trajectory. Universal Robina Corp surged 7.7 percent to its highest close in more than a year and was the biggest boost to the benchmark stock index. Thai shares scaled a near six-month high on the back of gains in consumer and utilities stocks. For Asian Companies click; SOUTHEAST ASIAN STOCK MARKETS Change on the day Market Current Previous close Pct Move Singapore 3393.33 3400.2 -0.20 Bangkok 1679.17 1673.52 0.34 Manila 8001.57 7952.72 0.61 Jakarta 6374.422 6455.352 -1.25 Kuala Lumpur 1632.24 1642.29 -0.61 Ho Chi Minh 978.5 979.64 -0.12 Change on year Market Current End 2018 Pct Move Singapore 3393.33 3068.76 10.58 Bangkok 1679.17 1563.88 7.37 Manila 8001.57 7466.02 7.17 Jakarta 6374.422 6194.498 2.90 Kuala Lumpur 1632.24 1690.58 -3.45 Ho Chi Minh 978.5 892.54 9.63 (Reporting by Aditya Soni in Bengaluru; Editing by Subhranshu Sahu)

SE Asia Stocks-Most dip as Fed fails to deliver 'dovish delight'

02 May 2019

* Indonesia leads losses in SE Asia * Singapore shares see worst day in over 5 weeks * Philippines rises after S&P upgrades long-term rating to "BBB+" By Aditya Soni May 2 Most Southeast Asian stock markets fell on Thursday, in line with global equities, after the U.S. Federal Reserve chairman's remarks cooled expectations of a rate cut, while Philippines gained after S&P Global upgraded the country's credit rating. The U.S. Federal Reserve on Wednesday held interest rates steady and signaled little appetite to adjust them any time soon, taking heart in continued job gains and economic growth and the likelihood that weak inflation will edge higher. "Chair Powell delivered a not-so-dovish delight for equity markets," said Stephen Innes, managing partner and head of trading, SPI Asset Management. Global equity markets had seen sharp gains earlier this year after a dovish Fed turn and on increasing likelihood of a U.S.-China trade deal. "Equity markets were looking for so much more from the Fed, and were shocked when Chair Powell said the Fed did not see a convincing case to move rates in either direction," he added. Indonesian stocks dropped 0.8 percent and led losses in the region as financials faltered. Bank Danamon Indonesia Tbk PT slumped as much as 15 percent to its lowest since March 15, while Bank Negara Indonesia (Persero) Tbk PT dropped 3.1 percent to an over five-week low. Singapore shares marked their worst session in more than five weeks, with Southeast Asia's biggest lender DBS Group Holdings Ltd dragging the city-state's benchmark with a 2.3 percent slide. Malaysian stocks and Vietnam shares weakened 0.3 percent each. However, Philippines shares gained 0.6 percent after S&P raised the country's long-term rating to "BBB+" on strong growth trajectory after market hours on Tuesday. Equity markets in Philippines were closed on Wednesday. "This should lift investor sentiment and spur inflows into Philippine assets," Maybank analysts said in a note. Universal Robina Corp, the biggest boost to the index, surged up to 6 percent to its highest in more than a year. The food and beverage company reported a near 3 percent rise in first-quarter net income. Thai shares hit their highest since April 22 on gains in consumer and energy stocks. Index heavyweight PTT PCL firmed 0.5 percent, while retailer Siam Makro PCL rose to its highest in almost two weeks. Thailand's inflation annual headline consumer price index rose 1.23 percent in April, slightly higher than a Reuters poll forecast but within central bank's target range of 1 percent to 4 percent for a second consecutive month. For Asian Companies click; SOUTHEAST ASIAN STOCK MARKETS AT 0327 GMT Market Current Previous close Pct Move Singapore 3386.4 3400.2 -0.41 Bangkok 1678.67 1673.52 0.31 Manila 7989 7952.72 0.46 Jakarta 6404.915 6455.352 -0.78 Kuala Lumpur 1636.81 1642.29 -0.33 Ho Chi Minh 976.45 979.64 -0.33 Change on year Market Current End 2018 Pct Move Singapore 3386.4 3068.76 10.35 Bangkok 1678.67 1563.88 7.34 Manila 7989 7466.02 7.00 Jakarta 6404.915 6194.498 3.40 Kuala Lumpur 1636.81 1690.58 -3.18 Ho Chi Minh 976.45 892.54 9.40 (Reporting by Aditya Soni in Bengaluru, Editing by Sherry Jacob-Phillips)

SE Asia Stocks-Most firm on optimism China will maintain stimulus

30 Apr 2019

* Philippines leads gains in the region * Singapore posts biggest monthly gain in SE Asia * Thailand unveils measures to support economic growth By Aditya Soni April 30 Most Southeast Asian stock markets advanced on Tuesday as disappointing China factory data stoked optimism that Beijing would continue to provide policy stimulus to boost growth. Official data showed that manufacturing activity in the world's second-largest economy expanded for a second straight month in April but at a much slower pace. "What we are seeing is that bad news is good news because ... there is a fair amount of expectation that the Chinese government will come in to rescue the day," said Taye Shim, head of research, Mirae Asset Sekuritas. Philippine shares climbed 0.7 percent to their highest close since April 11 and were the best performer in Southeast Asia. Real estate stocks dominated the gains, with SM Prime Holdings Inc firming 2.4 percent, while Ayala Land Inc rose 0.9 percent. Investors now await the U.S. Federal Reserve's two-day policy meeting, which starts later in the day. Thai shares rose the most in nearly two weeks as the country's cabinet approved economic measures worth 21.8 billion baht ($682.96 million) in a bid to support a slowing economy weighed down by weaker exports. The main stock index gained 2.1 percent for the month. Charoen Pokphand Foods PCL and Airports of Thailand PCL gained 4.8 percent and 0.7 percent, respectively and were the biggest boosts to the benchmark index. Indonesian stocks climbed 0.5 percent, while Malaysian shares closed 0.3 percent higher. Singapore shares ticked lower after recording sharp gains in the previous session. The index still gained 5.8 percent in April, the most in the region. The Vietnam stock market was closed for a holiday. For Asian Companies click; SOUTHEAST ASIAN STOCK MARKETS Change on the day Market Current Previous close Pct Move Singapore 3400.2 3407.02 -0.20 Bangkok 1673.52 1666.68 0.41 Manila 7952.72 7897.02 0.71 Jakarta 6455.352 6425.895 0.46 Kuala Lumpur 1642.29 1637.4 0.30 Change on year Market Current End 2018 Pct Move Singapore 3400.2 3068.76 10.80 Bangkok 1673.52 1563.88 7.01 Manila 7952.72 7466.02 6.52 Jakarta 6455.352 6194.498 4.21 Kuala Lumpur 1642.29 1690.58 -2.86 Ho Chi Minh 979.64 892.54 9.76 ($1 = 31.9200 baht) (Reporting by Aditya Soni in Bengaluru; Editing by Subhranshu Sahu)

SE Asia Stocks-Most climb on hopes for fresh China stimulus

30 Apr 2019

* Indonesian shares lead gains in regional markets * U.S.-China trade talks also lift risk sentiment * Singapore slips as financials drop By Aditya Soni April 30 Most Southeast Asian stock markets firmed on Tuesday, as investors hoped that Beijing would introduce more policy stimulus to spur growth after manufacturing data in the world's second-largest economy failed to meet expectations. Factory activity in China expanded for a second straight month in April but at a much slower pace, an official survey showed. Lacklustre data raised expectations that China would continue to extend stimulus to help the economy find its footing. "What we are seeing is that bad news is good news because ... there is a fair amount of expectation that the Chinese government will come in to rescue the day," said Taye Shim, head of research, Mirae Asset Sekuritas. Top performer in the region, Indonesian shares climbed 0.4 percent and saw their best session in a week. Gains in Southeast Asia's biggest economy were underpinned by consumer stocks, with Unilever Indonesia Tbk PT seeing its best session in a week, while Indofood Sukses Makmur Tbk PT rose to a nearly five-week high. Sentiment was also helped by hopes that U.S.-China could soon sign a trade deal to end a nearly year-long tariff skirmish. U.S. Treasury Secretary Steve Mnuchin told the New York Times that negotiations are in "the final lap" as he and Trade Representative Robert Lighthizer prepared to fly to Beijing for more talks this week. Meanwhile, Thai shares saw their best session in over a week after data showed that factory activity in March dropped less than expectations. Charoen Pokphand Foods PCL scaled an over two-month peak and was the biggest boost to the index, while Advanced Info Service PCL firmed 0.8 percent. Philippine shares posted modest gains, while Malaysian shares touched their highest level since April 10. Singapore's benchmark index shed sharp gains from the previous session to edge lower, dented by declines in financial stocks. Shares of Southeast Asia's biggest lender DBS Group Holdings Ltd marked their worst day in over five weeks. The lender had surged 3.6 percent on Monday after posting a record quarterly profit. Vietnam markets were closed for a regional holiday. For Asian Companies click; SOUTHEAST ASIAN STOCK MARKETS AT 0347 GMT Market Current Previous close Pct Move Singapore 3393.95 3407.02 -0.38 Bangkok 1670.66 1666.68 0.24 Manila 7908.69 7897.02 0.15 Jakarta 6456.074 6425.895 0.47 Kuala Lumpur 1639.47 1637.4 0.13 Change on year Market Current End 2018 Pct Move Singapore 3393.95 3068.76 10.60 Bangkok 1670.66 1563.88 6.83 Manila 7908.69 7466.02 5.93 Jakarta 6456.074 6194.498 4.22 Kuala Lumpur 1639.47 1690.58 -3.02 Ho Chi Minh 979.64 892.54 9.76 (Reporting by Aditya Soni in Bengaluru, Editing by Sherry Jacob-Phillips)

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