SE Asia Stocks - Malaysia posts best gain in 15 months after fuel pricing plan

lunes 24 de noviembre de 2014 06:39 GYT

BANGKOK, Nov 24 (Reuters) - Malaysian shares posted their
best gain in almost 15 months on Monday as the government's fuel
pricing plan allayed concerns over the country's budget deficit
while Singapore retreated despite data showing inflation near a
five-year low in October.
    Others in Southeast Asia mostly finished higher in line with
Asian markets as the prospect of further policy stimulus in
China and Europe whetted risk appetite globally.
    Kuala Lumpur's composite index rose 1.36 percent,
its biggest single-day rise since Aug. 30, 2013. Shares of
Sapurakencana Petroleum jumped 4.2 percent and Tenaga
Nasional was up 3.7 percent, among top gainers.
    The ringgit also outperformed regional peers.
    The Malaysian bourse said foreign investors bought shares
worth a net 108 million ringgit ($32.23 million), their first in
four sessions. They sold a combined 157 million ringgit ($46.85
million) in three sessions from Wednesday.
    Malaysia will scrap subsidies for petrol and diesel from
Dec. 1, the government said on Friday, a bold move that could
potentially result in some 20 billion ringgit ($5.97 billion)
savings annually. 
    "The decision to float is timely as the switch should have a
benign impact on inflation given that the average market price
is close to the current fixed retail price ... Furthermore, the
government will now have more fiscal space and more control over
the fiscal deficit," CIMB said in a report.
    Singapore's Straits Times Index closed down 0.1
percent at 3,340.53, just shy of an intra-day low after earlier
climbing to the highest since Sept. 12.
    Singapore's headline consumer inflation in October rose 0.1
percent from a year ago, the lowest since December 2009,
compared with a Reuters poll of an increase of 0.6
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 Change on day
 Market             Current     Prev Close    Pct Move
 Singapore          3340.53       3345.32       -0.14
 Kuala Lumpur       1833.77       1809.13       +1.36
 Bangkok            1590.14       1579.20       +0.69 
 Jakarta            5141.76       5112.05       +0.58
 Manila             7325.13       7276.18       +0.67
 Ho Chi Minh         582.53        588.03       -0.94
 Change on year
 Market             Current       End 2013    Pct Move
 Singapore          3340.53       3167.43       +5.46
 Kuala Lumpur       1833.77       1866.96       -1.78
 Bangkok            1590.14       1298.71      +22.44
 Jakarta            5141.76       4274.18      +20.30
 Manila             7325.13       5889.83      +24.37
 Ho Chi Minh         582.53        504.63      +15.44
 (1 US dollar = 3.3510 Malaysian ringgit)

 (Reporting by Viparat Jantraprap; Additional reporting by
Yantoultra Ngui in KUALA LUMPUR; Editing by Sunil Nair)