SE Asia Stocks -Indonesia extends loss to 5-week low amid weak rupiah

viernes 5 de junio de 2015 04:08 GYT

BANGKOK, June 5 (Reuters) - Most Southeast Asian stock
markets were flat or weaker on Friday as the Indonesian index
dropped to a more than five-week low amid weakness in the rupiah
and Philippine shares slipped on caution over easing May
inflation and the interest rate outlook.
    The Jakarta composite index fell 0.2 percent to
5,084.42, the lowest since April 30, on course for a weekly drop
of 2.5 percent, and was the region's worst performer.
    Selling led by foreign investors sent a number of large caps
to new lows, with Astra International sliding to a
more than five-week low and Bank Negara Indonesia 
hovering around a more than four-month low.
    The rupiah hit a 17-year low for a second-straight
day on Friday, spurring concerns over the impact of weakening
rupiah on corporate production costs which could later hurt
    Philippine key share index was down 0.3 percent,
poised for a third weekly loss of 0.6 percent. Philippine
inflation eased to its lowest in nine years, giving the central
bank scope to cut interest rates. 
    In Bangkok, the SET index rose for a third day,
adding 0.7 percent. Trading volume was relatively thin at about
half of the full day average over the past 30 days.
    Brokers cited technical-led buying and expected the gains to
be short-lived due to concerns over global uncertainties.
    "Despite bullish technical backdrop still intact after
yesterday's strong rally, we believe Thai stocks will likely
remain vulnerable to downside risk amid external pressures,"
strategists at broker Phillip Securities wrote in a report.
    The SET index is set for a modest weekly gain of 0.2
percent, trailing Vietnam's which is on track to end the
week up 1.4 percent. 
    Indexes in Singapore and Malaysia are both
on track for a third successive week of falls, down 1.6 percent
and 0.2 percent, respectively. 
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 Change at 0726 GMT
 Market             Current     Prev Close    Pct Move
 Singapore          3337.12       3345.00       -0.24
 Kuala Lumpur       1744.00       1741.48       +0.14
 Bangkok            1500.66       1490.90       +0.65
 Jakarta            5084.42       5095.82       -0.22
 Manila             7526.70       7553.65       -0.36
 Ho Chi Minh         576.91        568.99       +1.39
 (Reporting by Viparat Jantraprap; Additional reporting by
Fransiska Nangoy in Jakarta; Editing by Anupama Dwivedi)