SE Asia Stocks-Indonesia hits 2-wk low as July exports, imports dive
By Anusha Ravindranath Aug 15 (Reuters) - Indonesian shares fell to two-week lows on Monday as a slump in July exports and imports dampened investor sentiment, while Malaysia hit a three-and-a-half month high, led by energy stocks on firm oil prices. The Jakarta Composite Index declined as much as 1.3 percent and was headed for its fifth straight session of losses. Indonesia's exports and imports plunged on an annual basis in July, the statistics bureau said, confounding expectations for the first growth in 22 months. Meanwhile, sentiment in Asian markets got a slight boost after a rally in Chinese stocks helped offset news of Japan's economic growth slowing to a halt last quarter. MSCI's broadest index of Asia-Pacific shares outside Japan recouped early losses to stand steady. Malaysian shares were headed for their fourth straight session of gains as energy stocks such as Sapurakencana Petroleum Bhd rose. Oil prices edged up in early trades as speculation intensified about potential producer action to support prices in an oversupplied market. Thai shares eked out small gains as strong second-quarter GDP growth data offset investor concerns over last week's bomb blasts. Thailand's economy grew more than expected in the second quarter, helped by solid government and tourist spending, while the planning agency kept its forecast for all of 2016 unchanged. In the long term, the news of GDP growth will create positive sentiment, said Sumek Chantrasuriyarat, an analyst with Thailand-based KGI, adding that the impact of the bomb blast might not be serious and that the overall market sentiment seemed to be neutral. Philippine shares hit a more than one-week low, dragged down by financial stocks, with Metropolitan Bank and Trust Co among the top percentage losers. For Asian Companies click; SOUTHEAST ASIAN STOCK MARKETS STOCK MARKETS Change on 0508 GMT Market Current previous Pct Move close Singapore 2870.46 2867.4 0.11 Bangkok 1554.64 1552.64 0.13 Manila 7369.68 7376.41 -0.09 Jakarta 5313.687 5377.196 -1.18 Kuala Lumpur 1686.22 1684.15 0.12 Ho Chi Minh 656.81 655.71 0.17 Change so far this year Market Current End prev yr Pct Move Singapore 2870.46 2882.73 -0.43 Bangkok 1554.64 1288.02 20.70 Manila 7369.68 6952.08 6.01 Jakarta 5313.687 4593.008 15.69 Kuala Lumpur 1686.22 1692.51 -0.37 Ho Chi Minh 656.81 579.03 13.43 (Reporting by Anusha Ravindranath in Bengaluru; Editing by Subhranshu Sahu)
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