SE Asia Stocks -Singapore shares lead regional decline

viernes 16 de enero de 2015 01:13 GYT
 

BANGKOK, Jan 16 (Reuters) - Southeast Asian shares fell on
Friday amid turbulence in the foreign exchange market after
Switzerland's move to remove its currency cap, with Singapore's
key index sliding to a more than one-week low and others
retreating from the previous day's rebound.
    Asian shares stepped back and major currencies mostly stuck
to late U.S. levels after Switzerland's unexpected move to
abandon its currency cap jolted markets already roiled by
plunging commodities prices. 
    Singapore's Straits Times Index was down 1.1
percent at 3,301.90, after falling to 3,292.42, the lowest since
Jan. 7. It is heading for a weekly loss of about 1 percent, a
second straight week of decline.
    Shares of commodity trader Noble Group fell as
much as 5.9 percent to its lowest since early March, 2014,
tracking weakness in the commodities market.
    A dramatic rise in the value of the Swiss franc has sent
costs soaring for the country's commodity trading houses.
Geneva, Switzerland is one of Noble Group's regional
hubs. 
    Jakarta's composite index was slightly weaker, set
for a modest weekly loss.
    Investors sold recent gainers such as Bank Negara Indonesia
. Broker Trimegah Securities said it expected the
bank's earnings results, due later in the month, to outperform
expectations.
    Battered energy shares such as Perusahaan Gas Negara
 rebounded as oil prices edged up in early Asian
trading on Friday, benefiting from positive technical price
momentum. 
    "Oil price continues to fall, which is positive for
Indonesia, being a net importer," Trimegah Securities said in a
report.
    Bargain-hunting lifted recently beaten-down energy related
stocks across exchanges, including Thailand's top energy firm
PTT and Malaysia's Sapurakencana Petroleum.
    Malaysia's index was down 0.2 percent after a modest
0.3 percent rise on Thursday, trimming its gain on the week to
0.4 percent.
    The Thai index eased 0.06 percent after ending a tad
higher on the previous day, on course for a 0.6 percent weekly
decline.
    Vietnam edged down 0.3 percent, poised for about a 1
percent advance on the week.
    The Philippine stock market was closed on Thursday and
Friday for the visit of Pope Francis to Asia's most populous
Catholic country. 
    The Philippine main index hit a record closing high
on Wednesday at 7,490.88, ending the shortened trading week 1.2
percent higher.
       
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SOUTHEAST ASIAN STOCK MARKETS
 Change at 0408 GMT
 Market             Current     Prev Close    Pct Move
 Singapore          3301.90       3338.84       -1.11
 Kuala Lumpur       174.551       1745.00       -0.20
 Bangkok            1522.47       1523.38       -0.06
 Jakarta            5191.35       5188.71       -0.05
 Ho Chi Minh         576.27        577.74       -0.25
 
 (Reporting by Viparat Jantraprap; Additional reporting by
Singapore bureau; Editing by Anupama Dwivedi)