SE Asia Stocks -Mixed; Indonesia at 1-month high on economic optimism
BANGKOK, Oct 12 (Reuters) - Southeast Asian stock markets were mixed on Monday, with the Indonesian index extending gains for a sixth-day due to optimism about economic stimulus, while Malaysia snapped a five-day winning streak amid weaker-than-expected industrial output data. The Jakarta composite index traded up 0.8 percent at 4,626.59, the highest since Aug. 11. Buying led by foreign investors boosted financials, with Bank Rakyat Indonesia up 1.7 percent and Bank Central Asia 1.5 percent higher. Indonesia's chief economic minister said the government would cut prices of diesel fuel, jet fuel, and natural gas for industry as part of a third round of economic stimulus measures announced on Wednesday. The Malaysian index drifted into negative territory, reversing Friday's fifth straight gain which had sent the index to a more than two-month closing high. Data released early on Monday showed Malaysia's August industrial production rose 3.0 percent buoyed by higher manufacturing and mining output but below a median forecast from a Reuters survey of 4.0 percent. Bangkok's SET index gave up early gains and was down 0.2 percent. "The Thai baht has been rangebound this morning, not strengthening further, which may slow the pace of equity inflows," said broker KGI Securities in a report. "The global macro releases are muted this week and traders are likely to return to domestic factors such as the release of the third quarter earnings of Thai financial companies," it said. Banks were down 0.7 percent in a reporting season. Kasikornbank Pcl fell 1.1 percent ahead of a quarterly results due out by next week. Tisco Financial Group Pcl jumped 2.1 percent after its quarterly earnings came better than expected. Stocks in Singapore climbed almost 1 percent, the Philippines fell 0.3 percent and Vietnam was up 0.7 percent, all after a good run last week boosted by hopes the U.S. Fed will delay a planned rate increase until 2016. For Asian Companies click; SOUTHEAST ASIAN STOCK MARKETS Change at 0431 GMT Market Current Prev Close Pct Move Singapore 3027.38 2998.50 +0.96 Kuala Lumpur 1704.82 1706.54 -0.10 Bangkok 1408.56 1411.33 -0.18 Jakarta 4626.59 4589.34 +0.81 Manila 7117.41 7138.91 -0.30 Ho Chi Minh 591.76 588.02 +0.64 (Reporting by Viparat Jantraprap; ; Editing by Biju Dwarakanath)
© Thomson Reuters 2016 All rights reserved.