SE Asia Stocks -Most up: Fuel policy worries limit Indonesian gains

miércoles 12 de noviembre de 2014 03:44 GYT

Nov 12 (Reuters) - The main Indonesian stock index rose for
a second session on Wednesday, led by shares of financial firms
but uncertainty over the government's plan to raise fuel prices
as a step towards cutting subsidy spending weighed on sentiment.
    Most other Southeast Asian markets were firmer, with energy
shares lifting the Thai index while financial stocks boosted the
Philippine and Vietnamese indexes.
    Jakarta's composite index rose 0.6 percent,
extending the gains made over the last two sessions to more than
2 percent, after having lost 2.4 percent in the previous six
    Bank Negara Indonesia and Bank Mandiri 
rose 2.2 percent and 0.7 percent respectively. Shares of Telkom
Indonesia rose 1.1 percent.
    Uncertainty over an expected fuel price increase weighed on
sentiment after Indonesian President Joko Widodo last week said
he had not decided on the timing, signalling a possible delay in
cutting the massive fuel subsidies that are straining finances.
    In Bangkok, energy shares led the gains. Shares of top oil
firm PTT  rose 1.8 percent, helping the index gain 0.1
percent by midday.
    PTT's flagship in the upstream business, PTT Exploration and
Production PCL (PTTEP), on Wednesday said it aimed to
boost cash flow to $4 billion at the end of 2014 from $3.68
billion in 2013. 
    Shares of PTTEP, Thailand's top oil and gas explorer,
however, fell 0.7 percent.
    In Manila, financial stocks led the gains with a 1.9 percent
rise each in Ayala Land and BDO Unibank.
    Vietnam's benchmark VN Index edged up 0.3 percent,
helped by financial stocks.
    Bucking the trend, Singapore's Straits Times Index 
and Malaysia's main stock index fell 0.1 percent and 0.3
percent respectively. 
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 Change at 0706 GMT
 Market             Current     Prev Close    Pct Move
 Singapore          3290.08       3292.15       -0.06
 Kuala Lumpur       1820.54       1825.11       -0.25
 Bangkok            1572.30       1571.20       +0.07
 Jakarta            5061.98       5032.28       +0.59
 Manila             7239.85       7204.55       +0.49
 Ho Chi Minh         605.79        604.23       +0.26
 (Reporting by Shihar Aneez; Editing by Anupama Dwivedi)