SE Asia Stocks-Mostly down on falling oil; Bangkok, Jakarta up
April 18 (Reuters) - Most Southeast Asian stock markets ended lower on Monday as falling oil prices hurt investor sentiment after a producers' meeting in Doha failed to agree on a plan to curb the global glut. The Thai stock index however bucked the trend due to retail buying after nearly a week of holidays, and the Jakarta Composite index gained as investors picked beaten down bank stocks. The attempt to reach a deal to stabilise output at January levels until October 2016 failed after Saudi Arabia demanded that Iran join in. Some 18 oil exporting nations, including non-OPEC Russia, met in the Qatari capital for the talks. Financial stocks led the fall in Singapore, Malaysia, and the Philippines. Singapore's stock index was down 0.2 percent after falling as much as 1.1 percent in early trade, Malaysia closed 0.6 percent lower after weakening more than 1 percent, and Philippine shares closed down 1.1 percent. The Thai stock market, which was shut since Tuesday for the Songkran festival, finished 1 percent firmer, its highest close since April 4 as energy shares recovered from early losses. "There was some bullish sentiment after the long holiday and there was some good Chinese data release. Retail investors were bullish on that, but the gain was limited," said Teerada Charnyingyong, an analyst with Phillip Capital in Bangkok. "We expect the index to move sideways with limited upside." Bangkok saw $51.16 million in net foreign inflow while Indonesia witnessed $25.03 million in net foreign buying. Indonesia's stock index gained 0.9 percent, led by financials which fell on Friday after Bank Indonesia said the seven-day reverse repo would be used as the new benchmark rate effective Aug. 19. For Asian Companies click; Change on the day Market Current previous close Pct Move Singapore 2917.75 2923.94 -0.21 Bangkok 1398.77 1385.42 0.96 Manila 7243.4 7321.3 -1.06 Jakarta 4865.534 4823.568 0.87 Kuala Lumpur 1717.68 1727.99 -0.60 Change on the year Market Current End prev yr Pct Move Singapore 2917.75 2882.73 1.21 Bangkok 1398.77 1288.02 8.60 Manila 7243.4 6952.08 4.19 Jakarta 4865.534 4593.008 5.93 Kuala Lumpur 1717.68 1692.51 1.49 Ho Chi Minh 579.86 579.03 0.14 ($1 = 35.0100 baht) ($1 = 13,170.0000 rupiah) (Reporting by Shihar Aneez in COLOMBO; Editing by Biju Dwarakanath)
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