SE Asia Stocks-Singapore down on weaker oil, Philippine stocks rebound

martes 3 de mayo de 2016 00:52 GYT
 

JAKARTA, May 3 (Reuters) - Southeast Asian stock markets
traded mixed on Tuesday with the Singapore main index down on
lower oil prices overnight, while the Philippines and Indonesia
recovered from losses in the previous session.
    Singapore's Straits Times index fell 0.6 percent and
Malaysian stocks lost 1.2 percent, reopening after a
long weekend. Most Southeast Asian markets were closed on Monday
to mark the May 1 Labour Day, which fell on Sunday.
    "The plunge in oil prices overnight, after OPEC reported a
hike in output, may hold back gains in the oil and gas
counters," KGI Fraser Research in Singapore said in a note on
Tuesday.
    Oil prices fell about 3 percent on Monday as production from
the Organization of the Petroleum Exporting Countries neared
all-time peaks and record speculative buying in global benchmark
Brent sparked profit-taking on last month's outsized rally.
 
    Singapore's oil rig firm Sembcorp Industries Ltd 
fell 1.7 percent.
    Meanwhile, the Philippine stock index rose 0.3
percent after posting its biggest daily loss in two months on
Monday, while Indonesia's Jakarta Composite Index (JCI) 
rebounded 0.4 percent from its lowest closing level in three
weeks.
    "The JCI has fallen by 2.2 percent since previous week's
Monday amid plenty of disappointing results. We think a rebound
is due," broker Trimegah Securities in Jakarta said.
    Indonesia is scheduled to release first-quarter GDP data on
Wednesday. A Reuters poll showed first-quarter GDP inching up to
5.05 percent year-on-year, from 5.04 percent in the fourth
quarter. 
    
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SOUTHEAST ASIAN STOCK MARKETS

 Change on 0428 GMT
 Market         Current     Prev      Pct
                           close    change
 Singapore       2819.04   2838.52    -0.69
 Kuala Lumpur    1651.39   1672.72    -1.28
 Bangkok         1408.11   1404.61     0.25
 Jakarta         4828.85   4808.32     0.43
 Manila          7071.61   7053.88     0.25
 

 (Reporting by Fransiska Nangoy; Editing by Biju Dwarakanath)