SE Asia Stocks-Thailand posts biggest one-year intra-day gain; most indices drop

martes 13 de septiembre de 2016 07:16 GYT

By Krishna V Kurup
    Sept 13 (Reuters) - Thai shares posted their biggest
intra-day percentage gain in more than a year on Tuesday,
tracking strong U.S. markets following dovish comments from Fed
officials, even as other Southeast Asian markets dropped as
investors shrugged off better-than-expected Chinese data.
    Global sentiment was buoyed after U.S. Federal Reserve
Governor Lael Brainard on Monday dimmed the possibility for a
September rate hike when she said that she wants to see stronger
consumer spending data and signs of rising inflation before she
would second removing monetary support for the U.S. economy.
    Traders trimmed their odds for a September rate hike to 15
percent from 24 percent on Friday, according to CME Group's
FedWatch tool. 
    Thai shares rose as much as 2.7 percent, their
biggest intra-day percentage gain since August 2015.
    The market rebounded following Wall Street's rise overnight,
said Teerada Charnyingyong, an analyst with Phillip Securities
Thailand, adding the index could climb through the rest of the
week if it sustains 1,430-1,440 levels.
    "The Fed will most likely raise interest rates only in
    Consumer non-cyclicals and basic material stocks led the
gains, with PTT Global Chemical PCL rising 2.7
percent and CP All PCL gaining 3.5 percent.
    Singapore extended losses to a second session, losing
as much as 2.01 percent, its biggest daily percentage fall since
June 24. 
    Energy stocks led the losses, reflecting a drop in global
oil prices, with Keppel Corporation Ltd falling 3.7
percent and Sembcorp Industries Ltd ending 1.9 percent
    The fall in property, energy and financial sector shares
depressed the market, said Nirgunan Tiruchelvam, an analyst with
Religare Capital Markets (Singapore), adding that property
stocks are falling due to the government's measure of
restricting foreign purchases of domestic property.
   "Expect the markets to recover in light of what has
transpired with the Fed," Tiruchelvam added.
    Indonesian shares fell 1.3 percent, to their lowest
since July 26, with utilities and energy stocks leading the
    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.

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  STOCK MARKETS                                        
  Change on day                                        
  Market           Current       Prev close   Pct Move
  Singapore        2818.38       2873.33      -1.91
  Bangkok          1446.84       1411.85      2.48
  Manila           7550.27       7581.79      -0.42
  Jakarta          5215.567      5281.917     -1.26
  Kuala Lumpur     1677.18       1686.44      -0.55
  Ho Chi Minh      659.72        659.76       -0.01
  Change on year                              
  Market           Current       End 2015     Pct Move
  Singapore        2818.38       2882.73      -2.23
  Bangkok          1446.84       1288.02      12.33
  Manila           7550.27       6952.08      8.60
  Jakarta          5215.567      4593.008     13.55
  Kuala Lumpur     1677.18       1692.51      -0.91
  Ho Chi Minh      659.72        579.03       13.94

 (Reporting by Krishna V Kurup in Bengaluru; Additional
reporting by Sindhu Chandrasekaran; Editing by Vyas Mohan)