SE Asia Stocks-Indonesia gains; market subdued ahead of Yellen speech

jueves 25 de agosto de 2016 06:25 GYT
 

Aug 25 (Reuters) - Indonesian shares gained nearly 1 percent
on Thursday while other markets in the region were largely
lacklustre as investors awaited cues on U.S. interest rates from
Federal Reserve Chair Janet Yellen's speech on Friday.
    Markets expect Yellen to outline a clearer time frame for
the next U.S. rate hike after strong housing data this week and
upbeat comments by other Fed officials, but many analysts expect
her to strike a more neutral stance. 
    Indonesian stocks posted their first gain in three sessions
led by utilities, with Perusahaan Gas Negara (Persero) Tbk PT
 gaining 4.1 percent.
    Harry Su, an analyst with Jakarta-based Bahana Securities,
attributed the gains to a technical rebound, adding that a rise
in emerging market exchange-traded funds(ETFs) helped Indonesian
ETFs, further boosting the market curve.
    Market participants are still hoping that the tax amnesty
programme will be a success, propelling the market to be the
best performer in the region, Su added. 
    The Jakarta Composite Index had gained 17.7 percent
this year as of Wednesday's close. 
    Vietnamese shares eased after two sessions of gains
to end marginally lower, with energy shares tumbling on a
decline in global oil prices. Petrovietnam Gas Joint Stock
Corp ended 2.4 percent lower.
    The market was cautious ahead of Yellen's speech, with the
weakness on Wall Street and lower commodity prices weighing on
sentiment, said Fiachra MacCana, head of research at Ho Chi Minh
Securities.
    "There is a hint of nervousness in the air with investors
expecting the speech to lay out a possible rationale for a rate
hike before the year-end," MacCana said.

    For Asian Companies click;  

SOUTHEAST ASIAN STOCK MARKETS
  STOCK MARKETS                                        
  Change on day                                        
  Market           Current       Prev close   Pct Move
  Singapore        2876.93       2869.57      0.26
  Bangkok          1544.1        1547.55      -0.22
  Manila           7854.54       7866.13      -0.15
  Jakarta          5454.116      5403.992     0.93
  Kuala Lumpur     1680.3        1682.06      -0.10
  Ho Chi Minh      658.5         660.77       -0.34
                                              
  Change on year                              
  Market           Current       End 2015     Pct Move
  Singapore        2876.93       2882.73      -0.20
  Bangkok          1544.1        1288.02      19.88
  Manila           7854.54       6952.08      12.98
  Jakarta          5454.116      4593.008     18.75
  Kuala Lumpur     1680.3        1692.51      -0.72
  Ho Chi Minh      658.5         579.03       13.72
 
 (Reporting by Krishna V Kurup in Bengaluru; Editing by Sunil
Nair)