SE Asia Stocks - Mostly down on China's growth concerns; Thai up

lunes 22 de septiembre de 2014 04:00 GYT
 

Sept 22 (Reuters) - Most Southeast Asian markets edged lower
on Monday on concerns over sluggish economic growth in China as
investors awaited data this week that could provide more
evidence of a slowdown in the world's second largest economy. 
    By 0743 GMT, the Jakarta Composite Index (JCI) was
down 0.2 percent, Malaysia was down 0.2 percent, while
the Philippines and Singapore were 0.1 percent
weaker each.
    "Market was concerned by comments made by China's finance
minister who said China's economy is slowing and they will not
make any change in policy," said Muhamad Alfatih, an analyst
with Samuel Sekuritas Indonesia in Jakarta. 
    "In other words, their government is letting the slowdown
continue, which will affect other economies, including
Indonesia." 
    China's Finance Minister Lou Jiwei on Sunday said China will
not dramatically alter its economic policy because of any one
economic indicator, in remarks at a meeting of finance ministers
and central bank chiefs from the G20 nations. 
    His remarks came days after many economists lowered growth
forecasts, having seen the latest set of weak data.
    Growth in China's large factory sector probably stalled in
September, adding to worries the economy could be at risk of a
sharper slowdown unless Beijing rolls out more stimulus
measures, a Reuters poll showed on Monday, a day ahead of
China's flash manufacturing PMI release. 
    In Jakarta, analysts expect the correction to continue as
the market awaits more clarity on the fuel price policy by
president-elect Joko Widodo.
    Bucking the trend, Thailand's SET index and
Vietnam's benchmark VN Index were up 0.4 percent each. 
    Thailand's top oil and gas explorer, PTT Exploration and
Production Pcl was down 0.3 percent after the company
agreed to acquire a 20 percent stake in Brazilian offshore oil
and gas concession BM-ES-23 from Royal Dutch Shell for an
undisclosed sum. 
       
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SOUTHEAST ASIAN STOCK MARKETS
 Change at 0743 GMT
 Market             Current     Prev Close    Pct Move
 Singapore          3301.19       3305.05       -0.12
 Kuala Lumpur       1846.60       1849.49       -0.16
 Bangkok            1591.60       1584.91       +0.42
 Jakarta            5219.53       5227.58       -0.15
 Manila             7279.86       7287.29       -0.10
 Ho Chi Minh         615.53        613.29       +0.37
 
 (Reporting by Shihar Aneez; Additional reporting by Fransiska
Nangoy in Jakarta; Editing by Sunil Nair)