SE Asia Stocks-Mixed; Philippine market down on foreign investor selling

miércoles 6 de abril de 2016 06:56 GYT
 

JAKARTA, April 6 (Reuters) - Southeast Asian stock markets
ended mixed on Wednesday as gains in oil prices helped Singapore
and Vietnam while the Philippine market dropped on foreign
investor selling before presidential election. 
    The Philippine index fell 0.5 percent to its lowest
close in nearly three weeks. Foreign investors sold a
net 462 million pesos ($10.00 million) worth equities, Thomson
Reuters data showed. 
    "We may continue to see net foreign selling as investors
become more risk averse, coming into the elections," SB Equities
said in a note.
    The Philippines' President, Benigno Aquino, will end his
term in June and four presidential candidates to succeed him are
in a tight race ahead of the May elections. 
    Meanwhile, Singapore's Straits Times Index gained 0.4
percent, after posting its biggest single-day percentage decline
in four weeks in the previous session, as oil prices rose.
    The Vietnam index rose 1.3 percent to its highest
closing in more than two weeks, helped by energy stocks.
 
    Crude oil futures jumped on Wednesday, lifted by growing
expectations that exporters will agree to freeze their output
amid global oversupply. 
    In Indonesia, stocks rose 0.2 percent as the
government pledged to scrutinise taxpayers named in the data
leaked from a Panamanian law firm as part of efforts to chase
their offshore undeclared assets. 
    "We believe the government will leverage the momentum to
implement its tax amnesty agenda," KDB Daewoo Securities
Indonesia wrote in a note on Wednesday.
    A much-anticipated tax amnesty bill is expected to be
discussed soon in the parliament, which would allow Indonesians
to declare or repatriate money stashed overseas. 
    The Malaysian market gave up its small gain made
earlier in the day to close 0.1 percent lower, while Thailand's
market was closed for a public holiday.
    
    
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SOUTHEAST ASIAN STOCK MARKETS        
    
 Change on day                                   
 Market            Current   Prev close  Pct move
 Singapore         2811.25      2800.92      0.37
 Kuala Lumpur      1717.01      1718.08     -0.06
 Jakarta           4868.23      4858.07      0.21
 Manila            7180.55      7219.23     -0.54
 Ho Chi Minh        567.79       560.32      1.33
                                                 
 Change on year                                  
 Market            Current   2015 end    Pct move
 Singapore         2811.25      2882.73     -2.48
 Kuala Lumpur      1717.01      1692.51      1.45
 Jakarta           4868.23     4593.008      5.99
 Manila            7180.55      6952.08      3.29
 Ho Chi Minh        567.79       579.03     -1.94
 ($1 = 46.2150 Philippine pesos)

 (Reporting by Fransiska Nangoy; Editing by Subhranshu Sahu)