SE Asia Stocks-Indonesia outperforms; Vietnam posts second straight fall

lunes 3 de octubre de 2016 06:20 GYT
 

By Anusha Ravindranath
    Oct 3 (Reuters) - Most Southeast Asian stock markets rose on
Monday, mirroring gains in Asian peers, except Vietnam, which
fell for a second straight session after its government cut the
gross domestic product growth target for 2016. 
    In Asia, a report that Deutsche Bank was negotiating a much
smaller fine with the U.S. Department of Justice pushed shares
higher, with MSCI's broadest index of Asia-Pacific shares
outside Japan edging up 0.8 percent. 
 
    Sentiment got a boost after oil prices stabilised on hopes
that the OPEC output cut would help re-balance markets. 
    Indonesia outperformed regional markets, and climbed
nearly 2 percent, supported by gains in consumer non-cyclicals
and energy stocks.
    The country's annual inflation rate in September edged up
from that in August, but remained close to a near seven-year
low, data from the statistics bureau showed on Monday.
 
    "We are seeing some positive sentiment because Jokowi
(Indonesian President Joko Widodo) has asked for a higher budget
in terms of capex in 2017," said Harry Su, an analyst with
Jakarta-based Bahana Securities.
    "If this comes through then obviously the spending would
increase, which in turn, could be positive for GDP growth."
    The Jakarta Post reported on Saturday that the Indonesian
government planned to improve the quality of spending after
recent budget cuts. bit.ly/2dCNAie
    Singapore stocks finished flat, after hitting its
highest in more than three weeks earlier in the day.
    Philippine shares bounced back from Friday's losses
to post a gain of 0.6 percent, pulled up by industrials and
consumer non-cyclical stocks.
    Thai shares were buoyed by gains in energy stocks.
While PTT PCL rose 2.4 percent, Thai Oil PCL 
notched up 1.8 percent.
    Thailand's consumer prices rose for a sixth straight month
in September, but the pace remained benign, commerce ministry
data showed on Monday. 
    Bucking the trend, Vietnam shares posted a one-week
closing low after the government slashed annual GDP growth
target to between 6.3 percent and 6.5 percent due to a slowing
economy. Initially, the government had targeted a GDP growth of
6.7 percent for this year.
    The Malaysian stock market was closed for a holiday.

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SOUTHEAST ASIAN STOCK MARKETS

  STOCK MARKETS                                 
  Change on day                                 
  Market         Current     Previous   Pct Move
                             Close      
  Singapore      2870.84     2869.47    0.05
  Bangkok        1490.94     1483.21    0.52
  Manila         7677.73     7629.73    0.63
  Jakarta        5463.915    5364.804   1.85
  Ho Chi Minh    683.05      685.73     -0.39
                                        
  Change on                             
 year                                   
  Market         Current     End 2015   Pct Move
  Singapore      2870.84     2882.73    -0.41
  Bangkok        1490.94     1288.02    15.75
  Manila         7677.73     6952.08    10.44
  Jakarta        5463.915    4593.008   18.96
  Kuala Lumpur   1652.55     1692.51    -2.36
  Ho Chi Minh    683.05      579.03     17.96
 
 (Reporting by Anusha Ravindranath in Bengaluru; Editing by
Sherry Jacob-Phillips)