SE Asia Stocks-Mixed; Indonesia falls ahead of c.bank policy move
JAKARTA, April 15 (Reuters) - Southeast Asian stock markets traded mixed on Friday as investors kept a watch on oil prices ahead of a producers' meeting on Sunday, while Indonesia fell before a central bank announcement on policy rate changes later in the day. Major oil exporters are slated to meet on Sunday to discuss effots to contain global over-production, while Bank Indonesia is expected to announce a change to its benchmark policy rate at 0800 GMT Friday. Singapore's stock index edged up 0.2 percent, set for its best weekly gain in six weeks after rallying on rising oil prices earlier in the week. Banking and some property stocks were up, while oil drilling company Sembcorp Marine Ltd fell for a second day after touching a near five-month closing high earlier in the week. "Investors are generally cautious over the movement of oil prices pending the upcoming April 17 meeting between OPEC and non-OPEC member countries," KDB Daewoo Securities Indonesia said in a note. Indonesia's stock index lost 0.4 percent, dragged down by shares of big banks, PT Bank Mandiri and PT Bank Rakyat Indonesia. "We cannot ignore that market will focus on the negative in the near-term despite the positives, which are better liquidity, higher loan growth, lower cost of funds, and lower NPL risk," Trimegah Securities said in a note on Friday, adding the negative impact will likely be lower net interest margin for banks. Malaysian stocks were slightly down, while the Philippines was trading 0.7 percent lower led by property developer Ayala Land Inc which fell 1.4 percent. For Asian Companies click; SOUTHEAST ASIAN STOCK MARKETS Change 0525 GMT Market Current Prev close Pct move Singapore 2919.6 2913.93 0.19 Kuala Lumpur 1723.25 1723.78 -0.03 Bangkok 1385.42 1369.84 1.14 Jakarta 4797.19 4814.85 -0.37 Manila 7307.17 7357.28 -0.68 Ho Chi Minh 583.09 579.49 0.62 (Reporting by Fransiska Nangoy; Editing by Biju Dwarakanath)
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