SE Asia Stocks - Indonesia falls on import duty rules; S'pore eases after weak data

viernes 24 de julio de 2015 03:07 GYT

BANGKOK, July 24 (Reuters) - Most Southeast Asian stock
markets fell on Friday, with shares of retailers underperforming
in Indonesia on concerns over new import duty rules, while
Singapore's key index hit a more than one-week low after weak
industrial production data.
    The Jakarta composite index shed 1.1 percent,
heading for a weekly loss. Shares of retailer PT Mitra
Adiperkasa Tbk fell 7.6 percent after new import duty
rules released by Indonesian government. 
    Indonesia raised import tariffs on food, clothes and many
other consumer goods on Thursday in a move to help domestic
    Singapore's Straits Times Index traded down 0.1
percent on the day and a tad lower on the week. Jardine Cycle &
Carriage Ltd dropped 2.4 percent, the biggest
percentage loser on the index.
    The city-state released industrial production data for June,
which showed a 4.4 percent fall from a year earlier, below
    Philippines was nearly flat after data showed the
country's imports fell for a third straight month in May.
    Most markets are set to end the week lower. The Thai SET
index is on track for a weekly drop of 2.6 percent, the
worst performer in the region, amid unfavourable quarterly
results of many large-caps such as PTT Exploration and
    Brokers also cited other factors such as expectations of a
cabinet reshuffle.
    "Investors should keep an eye on the cabinet reshuffle. If
the new members are well known, it will help regain the trust of
investors," said broker Maybank Kim Eng Securities.
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 Change at 0641 GMT
 Market             Current     Prev Close    Pct Move
 Singapore          3352.28       3356.37       -0.12
 Kuala Lumpur       1719.73       1722.44       -0.16
 Bangkok            1440.94       1444.66       -0.26
 Jakarta            4849.97       4902.85       -1.08
 Manila             7659.11       7653.22       +0.08
 Ho Chi Minh         632.39        632.01       +0.06
 (Reporting by Viparat Jantraprap; Editing by Prateek