SE Asia Stocks-Thai rebounds on GDP data; Indonesia hits 2-1/2-mth low

lunes 16 de mayo de 2016 06:28 GYT
 

May 16 (Reuters) - Most Southeast Asian indexes were flat to
higher on Monday, with Thai stocks rebounding after
first-quarter GDP grew faster than expected, while Indonesia
closed lower as concerns over weak corporate earnings hit
sentiment. 
    Thai stocks closed slightly higher after Southeast
Asia's second-largest economy outpaced expectations in the first
quarter to expand at the fastest annual rate in three years.
 
    Indonesian stocks however closed at a two-and-a-half
month low, dragged down by consumer staples. Unilever Indonesia
 lost 3 percent.
     "We are hearing rumours that first quarter earnings are
expected to drop on a y-o-y comparison, which collectively is
weighing down on the corporate earnings outlook," said Taye
Shim, an analyst with KDB Daewoo Indonesia. 
    The Philippine index meanwhile extended gains from Friday to
hit a fresh 9-month high as investor sentiment remained buoyant
after maverick mayor Rodrigo Duterte emerged as the
president-elect last week. 
    "President-elect Rodrigo Duterte disclosed his economic
agenda upon his transition late last week, which had been taken
positively by the market," said Luz Lorenzo of brokerage Maybank
Kim Eng.
    The Philippine main index closed 1 percent higher,
led by consumer staples. It gained 6.4 percent last week on
hopes Duterte would continue pro-business economic policies that
are good for markets.  
    "The stocks have been rising all day and it's still politics
related. There is still residual thankfulness that the elections
went smoothly," she said. 
    Vietnam's benchmark index snapped two straight
sessions of losses after the country posted a trade surplus in
April, better than government estimates. 
    Energy stocks led the gainers as oil prices jumped to a 2016
high after Goldman Sachs said the market had flipped into
deficit.    
    Asian stocks posted modest gains, with MSCI's broadest index
of Asia-Pacific shares outside Japan rising 0.4
percent. 
    
  STOCK MARKETS                                        
  Change on day                                        
  Market           Current       Previous     Pct Move
                                 Close        
  Singapore        2736.06       2734.91      0.04
  Bangkok          1397.63       1394.69      0.21
  Manila           7511.74       7436.79      1.01
  Jakarta          4731.562      4761.715     -0.63
  Kuala Lumpur     1621.21       1628.26      -0.43
  Ho Chi Minh      615.78        610.82       0.81
 
 
  Change on year                              
  Market           Current       End 2015     Pct Move
  Singapore        2736.06       2882.73      -5.09
  Bangkok          1397.6        1288.02      8.51
  Manila           7511.74       6952.08      8.05
  Jakarta          4731.562      4593.008     3.02
  Kuala Lumpur     1621.21       1692.51      -4.21
  Ho Chi Minh      615.78        579.03       6.35
 

 (Reporting by Rushil Dutta in Bengaluru; Editing by Biju
Dwarakanath)