SE Asia Stocks -Indonesia leads regional decline
BANGKOK, Aug 6 (Reuters) - Stocks in Indonesia fell for a second day on Wednesday as caution remained after disappointing second-quarter economic data and due to the political situation while Southeast Asian stock markets mostly edged lower, in line with others in Asia. The benchmark Jakarta's composite index was down 1 percent amid active selling in shares of Bank Rakyat Indonesia and Astra International. It closed lower on Tuesday after data showed Indonesia's economy unexpectedly failed to gain traction in the second quarter due to weak investment and exports. Indonesia's losing presidential candidate Prabowo Subianto launched a last-gasp attempt to overturn the official election result on Wednesday, telling the nation's highest court last month's vote was tainted by "massive" fraud. Singapore, Malaysia and the Philippines saw modest losses as Asian stocks fell broadly after a slump on Wall Street and tensions over Ukraine smothered markets with a mood of risk aversion. In Bangkok, the SET index was little changed, helped by gains in dividend yielding stocks such as Advanced Info Service as the Bank of Thailand kept its benchmark one-day repurchase rate at 2.0 percent as expected. Brokers said a key market focus is formation of an interim government. "The cabinet members and the new Prime Minister will be key variables attracting foreign interest back to the Thai markets, which should take place in the second half of August," Maybank Kim Eng Securities said in a report. In Manila, shares of Globe Telecom bucked the trend, rising 2.7 percent after the telecoms firm posted a 385 percent jump in earnings for six months ended June 30, 2014. Vietnam's benchmark VN Index rose on gains in large-caps. For Asian Companies click; For South East Asia Hot Stock reports, click; SOUTHEAST ASIAN STOCK MARKETS Change at 0741 GMT Market Current Prev Close Pct Move TR SE Asia Index* 439.15 441.66 -0.57 Singapore 3319.53 3327.67 -0.24 Kuala Lumpur 1870.84 1876.69 -0.31 Bangkok 1526.69 1528.98 -0.15 Jakarta 5057.19 5109.09 -1.02 Manila 6948.97 6974.00 -0.36 Ho Chi Minh 608.47 607.73 +0.12 * 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 Viparat Jantraprap; Editing by Anupama Dwivedi)
© Thomson Reuters 2016 All rights reserved.