SE Asia Stocks -Indonesia snaps losing streak; fuel policy in focus

martes 11 de noviembre de 2014 02:44 GYT
 

BANGKOK, Nov 11 (Reuters) - Indonesia's key index snapped a
six-day losing streak on Tuesday, led by beaten-down large caps,
but gains were limited due to a lack of clarity over the
government's plan to raise fuel prices as a step towards cutting
subsidy spending.
    Other Southeast Asian markets remained rangebound with
shares of palm plantation firms rising in line with a rebound in
palm oil futures.
    Jakarta's composite index gained 1.3 percent,
recouping some of its 2.4 percent loss over the past six
sessions.
    Shares of Telkom Indonesia and Bank Mandiri
 rose in strong volumes on foreign-led buying, Thomson
Reuters data showed.
    "I don't think the rally will last because of the
uncertainty in the fuel price increase plan," said Andri
Zakarias, an analyst with BNI Securities.
    Indonesian President Joko Widodo said last week he had not
decided on the timing of a fuel price hike, signalling a
possible delay in cutting massive fuel subsidies that are
straining the state's finances. 
    In Singapore, shares of Olam International jumped
3.3 percent, the biggest percentage gainers on the Straits Times
Index.
    Palm plantation firm Kuala Lumpur Kepong rose 0.6
percent, the second biggest gainer on Malaysia's key index
.
    Indonesia's Astra Agro Lestari rose 3.5 percent
after a report it bought a 50 percent stake worth 75 billion
rupiah ($6.17 million) in a unit of Malaysia' Kuala Lumpur
Kepong. 
    Malaysian palm oil futures ended four days of falls on
Monday as export demand picked up. 
    In Bangkok, strong quarterly results boosted shares of zinc
firm Padaeng Industry. The stock was up 14.3 percent at
midday, the third biggest gainer on the key SET index.
    The Philippines' key index reversed two days of falls
after data showed September exports rose 15.7 percent from a
year earlier. 
       
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SOUTHEAST ASIAN STOCK MARKETS
 Change at 0603 GMT
 Market             Current     Prev Close    Pct Move
 Singapore          3298.96       3301.00       -0.06
 Kuala Lumpur       1825.31       1827.93       -0.14
 Bangkok            1575.36       1567.34       +0.51
 Jakarta            5029.94       4965.39       +1.30
 Manila             7209.98       7192.12       +0.25
 Ho Chi Minh         607.35        602.12       +0.87
 
 (Reporting by Viparat Jantraprap and Fransiska Nangoy in
JAKARTA; Editing by Anupama Dwivedi)