SE Asia Stocks-Flat to weaker as oil prices retreat; Indonesian banks weak

viernes 19 de febrero de 2016 00:30 GYT

BANGKOK, Feb 19 (Reuters) - Southeast Asian stock markets
were flat to weaker on Friday as a retreat in global oil prices
hit risk appetite in Asia, with Indonesia hitting a two-week low
amid foreign-led selling in banking shares.
    Asian shares slipped from near three-week highs as investors
remained cautious about the outlook for the global economy.
    Indonesia's Jakarta composite index slipped 1.3
percent to 4,717.26. It earlier touched 4,709.33, the lowest
level since Feb. 5, nearly giving up gains early on the week,
among Southeast Asia's underperformers.
    Among actively-traded shares, Bank Mandiri and
Bank Rakyat Indonesia dropped about 5 percent as
foreigners sold. 
    Indonesia's central bank, anticipating that U.S. interest
rates will not be hiked until after June, on Thursday escalated
its efforts to lift sluggish growth and lending by cutting a
host of rates. 
    "A 25-basis-point cut was already in the price, as the JCI
has already been on an uptrend in the past few days," said Harry
Su, head of Research at broker Bahana Securities.
    "Some market players in fact were hoping for a
50-basis-point cut. So it's a sell on news type of a situation,"
he said.
    Malaysia eased 0.2 percent after a rally to a
seven-week closing high on Thursday, poised for a 2 percent gain
on the week. The rebounds in oil prices early in the week helped
ease concerns about Southeast Asia's third-largest economy.
    Singapore is set to lead gains in the region on the week, up
more than 4 percent, outperforming a 2.5 percent rise in the
Philippines. Thai stocks and Vietnam are
set to post about 2 percent gain for the week.
For Asian Companies click;  

 Change at 0358 GMT
 Market             Current     Prev Close    Pct Move
 Singapore          2646.42       2657.57       -0.42
 Kuala Lumpur       1677.09       1680.02       -0.17
 Bangkok            1295.45       1294.59       +0.07
 Jakarta            4717.26       4778.79       -1.29
 Manila             6819.46       6848.87       -0.43
 Ho Chi Minh         553.27        552.49       +0.14
 (Reporting by Viparat Jantraprap; Editing by Anand Basu)