SE Asia Stocks-Indonesia hits more than 1-year high; S'pore up nearly 1 pct
By Rushil Dutta July 20 (Reuters) - Most Southeast Asian stocks traded flat to higher on Wednesday, with Indonesia climbing to a near 14-month high, extending a rally into a fourth consecutive session on continued investor risk appetite, while limited oil gains aided Singapore stocks. Indonesia's main index gained as much as 0.9 pct, rising to its highest since late-May 2015, led by consumer staples and consumer cyclicals. "We expect JCI (Jakarta Composite Index) to trend higher today as broader risk-on sentiment still remains intact," said Taye Shim, an analyst with Jakarta-based Daewoo Securities. "Yesterday, foreigners net bought Indonesian equities worth 803 billion rupiah ($61.34 million), pushing up the JCI by 0.9 percent. However, we see near-term challenges as investors are likely to seek evidences like 2Q16 corporate earnings, GDP growth, fund repatriation etc., to justify the recent price rally." Investors are also expected to keep an eye out for a decision on interest rates by the Indonesian central bank on Thursday. Cigarette-makers Hanjaya Mandala Sampoerna Tbk PT and Gudang Garam gained 4 percent and 2.7 percent respectively. Singapore's Straits Times Index gained 0.8 percent, driven by oil and gas stocks and consumer services. Oil futures rose in Asian trading on Wednesday but gains were limited and U.S. crude traded sideways in advance of the release of official weekly inventory figures later in the day. Oil-rig companies Sembcorp Industries gained 2.1 pct, while Keppel Corp was up 0.5 pct. Sembcorp Industries was among the biggest gainers on the index. Thai stocks rose 0.7 percent to a 1-year high, after a four-day long weekend break. Gains were led by telecom and basic materials. Advanced Info Service PCL rose 2.7 percent. Malaysia lost 0.4 percent, shrugging off government data showing a fourth consecutive month in which the inflation rate has slowed. Vietnam extended losses, while Philippine stocks was flat. For Asian Companies click; SOUTHEAST ASIAN STOCK MARKETS STOCK MARKETS Change at 0423 GMT Market Current Previous close Pct Move Singapore 2943.92 2919.54 0.84 Bangkok 1503.25 1492 0.75 Manila 8028.42 8036.01 -0.09 Jakarta 5216.554 5172.83 0.85 Kuala Lumpur 1664.38 1670.55 -0.37 Ho Chi Minh 661.85 667.76 -0.89 Change on year Market Current End 2015 Pct Move Singapore 2943.92 2882.73 2.12 Bangkok 1503.25 1288.02 16.71 Manila 8028.42 6952.08 15.48 Jakarta 5216.554 4593.008 13.58 Kuala Lumpur 1664.38 1692.51 -1.66 Ho Chi Minh 661.85 579.03 14.30 ($1 = 13,090.0000 rupiah) (Reporting by Rushil Dutta; Editing by Biju Dwarakanath)
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