SE Asia Stocks-Thailand gains most in nearly 8 months, other markets trade lower

martes 13 de septiembre de 2016 01:52 GYT

By Krishna V Kurup
    Sept 13 (Reuters) - Thai stocks rebounded on Tuesday
from a more than 2 percent fall in the previous session to gain
the most since Jan. 22 after dovish comments by a U.S. Fed
official sparked a rally in Asian shares on reduced chances of a
near-term rate increase.
    Other Southeast Asian stock markets however traded lower,
with investors shrugging off better-than-expected industrial
output and retail sales data in China. 
    Four Southeast Asian markets were closed for a public
holiday on Monday. 
    U.S. Federal Reserve Governor Lael Brainard said on Monday
she wants to see stronger consumer spending data and signs of
rising inflation before she would support removing monetary
support for the U.S. economy. 
    The comments solidified sentiment across the globe that the
U.S. central bank would leave interest rates unchanged at its
Sept. 20-21 meeting, with traders trimming their views on the
likelihood of a September rate hike to 15 percent, from 24
percent on Friday, according to the CME Group's FedWatch tool.
    Thai shares rose as much as 2.1 percent, their
biggest intra-day percentage gain in nearly 8 months, with basic
materials and consumer non-cyclicals rising the most.
    PTT Global Chemical PCL rose 1.8 percent, while 
CP All PCL climbed 2.2 percent.
    The Fed will most likely raise interest rates only in
December, said Teerada Charnyingyong, an analyst with Phillip
Securities Thailand.
    The market is rebounding following Wall Street's rise
overnight, she said, adding the index could climb through the
rest of the week if it sustains 1,430-1,440 levels. 
    Indonesian shares were down 0.7 percent, after
falling as much as 1.1 percent to their lowest since July 29 in
early trade.
    The index is likely to remain mixed with a propensity to
weaken, although given last week's fall we may see a technical
rebound sometime during the week, Trimegah Securities Indonesia
said in a note. 
    The index lost 1.3 percent last week.
    Utilities and consumer cyclicals were among the biggest
losers on the index, with Perusahaan Gas Negara (Persero) Tbk PT
 falling 1.8 percent and Astra International Tbk PT
 dropping 3.3 percent.
    Singapore fell 1.2 percent, led lower by energy
stocks Keppel Corporation Ltd, down 2.4 percent, and
Sembcorp Industries Ltd, which lost 0.8 percent, as
global oil prices fell. 
    Asian shares rose on Tuesday, with MSCI's broadest index of
Asia-Pacific shares outside Japan gaining 0.4
percent, after tumbling 2.4 percent on Monday. 
    For Asian Companies click;  

  STOCK MARKETS                                        
  Change at 0500                                       
  Market           Current       Prev close   Pct Move
  Singapore        2839.89       2873.33      -1.16
  Bangkok          1438.63       1411.85      1.90
  Manila           7533.52       7581.79      -0.64
  Jakarta          5246.387      5281.917     -0.67
  Kuala Lumpur     1674.75       1686.44      -0.69
  Ho Chi Minh      656.78        659.76       -0.45
  Change on year                              
  Market           Current       End 2015     Pct Move
  Singapore        2839.89       2882.73      -1.49
  Bangkok          1438.63       1288.02      11.69
  Manila           7533.52       6952.08      8.36
  Jakarta          5246.387      4593.008     14.23
  Kuala Lumpur     1674.75       1692.51      -1.05
  Ho Chi Minh      656.78        579.03       13.43

 (Reporting by Krishna V Kurup in Bengaluru; Additional
reporting by Sindhu Chandrasekaran; Editing by Biju Dwarakanath)