SE Asia Stocks -Mixed; Jakarta edges down on political uncertainty ahead of polls

miércoles 25 de junio de 2014 02:27 GYT

June 25 (Reuters) - Indonesian shares edged down on
Wednesday due to uncertainty over the upcoming presidential
election, while other Southeast Asian markets traded rangebound
as escalating violence in Iraq eclipsed stronger economic data.
    Property stocks led the fall in the Jakarta Composite Index
 with PT Bumi Serpong Damai falling over 2.3
    The rupiah also fell to its weakest in more than
four months on worries about the country's current account
deficit amid higher oil prices and uncertainty over the coming
presidential polls. 
    Analysts and stockbrokers said the tight race in the
presidential polls, scheduled on July 9, has been denting
    Other markets in the region traded rangebound with Malaysia
falling from a record closing high hit on Tuesday, while
Thailand edged up. 
    "There is lack of positive news on the economic front to
boost sentiment," said Teerada Charnyingyong, a strategist with
broker Phillip Securities.
    Investors are waiting for the outcome of the energy reforms
policy discussion, scheduled to be announced by the end of this
month, Charnyingyong said. 
    "We will see thin volume of trading and foreign outflows
until we see some clear directions."
    Malaysia's Icon Offshore Bhd, whose ships offer
support services for oil platforms, rose 12 percent in its
market debut, with investors keen on its growth outlook given
heavy capital spending plans by state oil firm Petronas.
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 Change at 0554 GMT
 Market             Current     Prev Close    Pct Move
 TR SE Asia Index*   423.66        424.69       -0.24
 Singapore          3266.07       3262.03       +0.12
 Kuala Lumpur       1889.31       1892.33       -0.16
 Bangkok            1462.05       1460.92       +0.08
 Jakarta            4850.55       4862.24       -0.24
 Manila             6847.05       6793.07       +0.79
 Ho Chi Minh         574.49        569.74       +0.83
 * The Thomson Reuters South East Asia Index is a
highly representative indicator of stocks listed in Indonesia,
Malaysia, the Philippines, Singapore, Thailand and Vietnam.

 (Reporting by Shihar Aneez; Editing by Subhranshu Sahu)