SE Asia Stocks-Mostly down; Indonesia falls on continued foreign selling
JAKARTA, April 29 (Reuters) - Most Southeast Asian stock markets were trading lower on Friday amid weakness in global markets while Indonesia headed for its first fall in three sessions as foreign investors continued to sell local equities on disappointing earnings. Indonesia's main stock index was 0.4 percent lower, led by market heavyweights PT Unilever Indonesia and PT Gudang Garam. "So far, 30 companies under our coverage have reported their first-quarter financials with aggregate earnings growth being 1 percent year-on-year which was quite disappointing, even though on a quarter-on-quarter the growth was still on an upward trend," Maybank KimEng Indonesia wrote. Foreign investors were seen offloading local equities on Friday, on track for a fourth straight session of selling. Philippine stocks were down 0.4 percent and headed for their second consecutive weekly loss. Bucking the trend, Vietnam's index rose 0.9 percent. In the wider Asian market, MSCI's broadest index of Asia-Pacific shares outside Japan fell 0.5 percent after Bank of Japan kept its policy unchanged and U.S. first-quarter GDP growth came in lower than expected. For Asian Companies click; SOUTHEAST ASIAN STOCK MARKETS Change on 0459 GMT Market Current Prev close Pct change Singapore 2847,46 2862,3 -0.52 Kuala Lumpur 1668,84 1674,76 -0.35 Bangkok 1396,46 1399,91 -0.25 Jakarta 4830,56 4848,39 -0.37 Manila 7131,1 7162,56 -0.44 Ho Chi Mihn 597,14 591,67 0.92 (Reporting by Fransiska Nangoy; Editing by Subhranshu Sahu)
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