SE Asia Stocks -Mixed; Jakarta recovers from 5-wk closing low
March 27 (Reuters) - Indonesian stocks recovered on Friday from a five-week closing low hit in the previous session despite foreign outflows, while other Southeast Asian markets closed mixed as concerns over rising tensions in the Middle East offset optimism about upbeat U.S. economic data. Jakarta's composite index ended 0.52 percent firmer, but concerns over continued foreign outflows remained amid a sliding rupiah. Foreign investors sold a net $44.63 million worth stocks on Friday. Fund managers and foreign investors are bailing out of Indonesian stocks as worries grow that a perfect storm of a sliding rupiah, record levels of foreign debt and rising import costs could bring some businesses to their knees. Singapore's key stock index rose for a fourth straight session and ended 0.5 percent higher, while the Philippine index closed 0.1 percent up a day after the central bank left key policy rates steady as expected. Risk appetite improved on optimism over the U.S. economy after robust jobs data and activity in the services sector hit a six-month high in March. However, gains were checked by the Saudi-led operation against Yemen. Though it has not affected the oil facilities of major Gulf producers, fears that the conflict could spread and disrupt Middle East shipments have for now hit sentiment. The prevailing uncertainty on the timing of the U.S. Federal Reserve's rate-tightening cycle also weighed on sentiment. Thailand's SET index fell 0.1 percent to near three-month closing low with a $32.14 million foreign outflow, Malaysia dropped 0.3 percent, and Vietnam lost 0.9 percent. For Asian Companies click; For South East Asia Hot Stock reports, click; SOUTHEAST ASIAN STOCK MARKETS Change on day Market Current Prev Close Pct Move Singapore 3450.10 3431.59 +0.54 Kuala Lumpur 1813.37 1818.42 -0.28 Bangkok 1495.22 1496.41 -0.08 Jakarta 5396.85 5368.80 +0.52 Manila 7877.96 7871.10 +0.09 Ho Chi Minh 551.42 556.16 -0.85 Change on year Market Current End 2014 Pct Move Singapore 3450.10 3365.15 +2.52 Kuala Lumpur 1813.37 1761.25 +2.96 Bangkok 1495.22 1497.67 -0.16 Jakarta 5396.85 5226.95 +3.25 Manila 7877.96 7230.57 +8.95 Ho Chi Minh 551.42 545.63 +1.06 ($1 = 13,060.0000 rupiah) ($1 = 32.5600 baht) (Reporting by Shihar Aneez in COLOMBO; Editing by Subhranshu Sahu)
© Thomson Reuters 2017 All rights reserved.