SE Asia Stocks-Indonesia rises on continued foreign buying; Singapore down

martes 19 de julio de 2016 01:20 GYT

By Aparajita Saxena
    July 19 (Reuters) - Most Southeast Asian stock markets rose
on Tuesday, led by Indonesia on continued buying from foreign
investors, while Singapore fell to a four-session low with oil
and gas stocks making up most of the losses.
    Global oil prices eased as concerns over a crude and refined
fuel glut outweighed an expected cut in U.S. shale production
and a probable further draw in U.S. crude inventories.
    Singapore shares were headed for their first fall in
three sessions, with oil rig builders Sembcorp Industries Ltd
, Sembcorp Marine Ltd and Keppel Corp
 among the biggest losers. 
    Indonesian shares were on track to post their third
session of gains, with Protech Mitra Perkasa Tbk PT 
and Multiple Technology Tbk PT among the biggest
    "Foreigners have been net buying Indonesian equities for 15
consecutive sessions since June 21," said Taye Shim, an analyst
with Daewoo Securities Indonesia.
    "We expect to see profit-taking by foreigners, and forecast
mild correction during today's trading session."
    Philippine stocks recovered from the previous
session's losses and were on track to post their seventh session
of gains in eight, led by utilities and consumer cyclicals.
    "The market is no longer cheap. Analysts are therefore
looking forward to the earning season and hopefully we'll see a
lot of companies beating expectations to justify further
increase in share prices," said April Lee Tan, an analyst with
Manila-based COL Financial Inc.
     "We're still enjoying ample liquidity and in general are
seeing funds flow into emerging markets and benefitting from
that post-Brexit."
    Energy company Aboitiz Equity Ventures Inc rose
2.98 percent, while DMCI Holdings Inc gained 1.43
    Malaysia and Vietnam shares were flat.
    Thailand stock markets were closed on Tuesday for a
national holiday. 
  STOCK MARKETS                                               
  Change at 0425 GMT                                          
  Market               Current       Previous close  Pct Move
  Singapore            2908          2928.76         -0.71
  Manila               8015.38       7986.25         0.36
  Jakarta              5165.861      5127.501        0.75
  Kuala Lumpur         1669.76       1670.84         -0.06
  Ho Chi Minh          673.97        673.5           0.07
  Change on year                                     
  Market               Current       End 2015        Pct Move
  Singapore            2908          2882.73         0.88
  Manila               8015.38       6952.08         15.29
  Jakarta              5165.861      4593.008        12.47
  Kuala Lumpur         1669.76       1692.51         -1.34
  Ho Chi Minh          673.97        579.03          16.40
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 (Reporting by Aparajita Saxena; Editing by Subhranshu Sahu)