SE Asia Stocks-Indonesia hits over 4-wk high on rupiah surge

martes 27 de septiembre de 2016 05:57 GYT
 

By Anusha Ravindranath
    Sept 27 (Reuters) - Indonesian stocks recouped early losses
to hit their highest in more than four weeks on Tuesday after
the rupiah surged to a 17-month peak on likely inflows
from a tax amnesty programme. 
    The Indonesian currency hits its highest level since April
2015 on suspected inflows into the first phase of the country's
tax amnesty programme, where participants will be charged with
the lowest fee and which ends on Sept. 30. 
    Risk appetite also improved after investors judged U.S.
Democrat presidential runner Hillary Clinton the winner of the
first debate with Republican opponent Donald Trump. 
    In signs that investors awarded the debate to Clinton, Asian
shares recovered from an early bout of nerves, while most
regional currencies strengthened including the Philippine peso,
which rebounded after hitting a 7-year low early in the day.
 
    Basic materials and energy stocks led gains in Indonesia
 with Vale Indonesia Tbk PT and J Resources
Asia Pasifik Tbk PT among the best performers.
    "Trump is not very foreign-friendly," said Harry Su, an
analyst with Jakarta-based Bahana Securities. A win for Hillary
would benefit Southeast Asian countries, particularly Indonesia
because "we are basically Islamic-based," he added.
    Trump is seen as negative for emerging Asian countries as he
is perceived to be more protectionist on international trade,
vowing to renegotiate some trade agreements. 
    Singapore shares closed higher with blue-chips such
as Singapore Airlines and Singapore Telecommunications
Ltd among the top gainers.
    Philippine stocks fell for the third straight
session, dragged down by consumer non-cyclicals and financial
stocks. JG Summit Holdings Inc and BDO Unibank Inc
 were among the top losers.
    Vietnam stocks closed up over 1 percent, driven by
gains in financials and energy sector.
    
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SOUTHEAST ASIAN STOCK MARKETS
  STOCK MARKETS                                        
 Change on the                                         
 day                                          
  Market           Current       previous     Pct Move
                                 close        
  Singapore        2860.23       2849.94      0.36
  Bangkok          1489.39       1490.14      -0.05
  Manila           7557.34       7632.46      -0.98
  Jakarta          5419.604      5352.139     1.26
  Kuala Lumpur     1664.72       1669.5       -0.29
  Ho Chi Minh      684.89        677.04       1.16
                                              
  Change so far                               
 this year                                    
  Market           Current       End prev yr  Pct Move
  Singapore        2860.23       2882.73      -0.78
  Bangkok          1492.35       1288.02      15.86
  Manila           7557.34       6952.08      8.71
  Jakarta          5419.604      4593.008     18.00
  Kuala Lumpur     1664.72       1692.51      -1.64
  Ho Chi Minh      684.89        579.03       18.28
 

 (Reporting by Anusha Ravindranath in Bengaluru; Editing by
Sunil Nair)