SE Asia Stocks-Indonesia hits more than 1-year closing high

miércoles 20 de julio de 2016 06:27 GYT
 

By Rushil Dutta
    July 20 (Reuters) - Most Southeast Asian stocks closed
higher on Wednesday, with Indonesia climbing to a near 14-month
high, extending the rally into a fourth session on continued
investor risk appetite.
    Indonesia's main index closed up 1.4 percent to its
highest close since May 27, 2015, led by consumer staples and
financials.
    The broader risk-on sentiment still remains intact, said
Taye Shim, analyst, Jakarta-based Daewoo Securities.
    "However, we see near-term challenges as investors are
likely to seek evidences like Q216 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.
 
    In a Reuters poll, 11 of 16 economists said Bank Indonesia
(BI) will cut the benchmark 12-month reference rate by 25
basis points to 6.25 percent to help spur economic growth.
 
    The European Central Bank also plans to have a policy
meeting on Thursday and is not expected to change its monetary
stance. 
    Governments in China, Japan and Britain have already started
easing their fiscal stance or hinted at plans to do so.
    Cigarette makers Hanjaya Mandala Sampoerna Tbk PT 
and Gudang Garam Tbk PT gained 6.2 percent and 4.4
percent, respectively. 
   Thai stocks gained 1.2 percent, driven by energy and
telecom stocks.
    Oil futures rose in early Asian trading on Wednesday but
gains were limited, and the U.S. crude traded sideways before
the release of official weekly inventory figures later in the
day. 
    PTT PCL and PTT Exploration and Production PCL
 gained 3.05 percent and 1.2 percent, respectively.
    Singapore stocks finished up 0.9 percent, driven by
financials and consumer services.
    Among the biggest gainers, Genting Singapore rose
1.9 percent.
    Malaysia finished flat, shrugging off government
data showing a fourth consecutive month in which the inflation
rate has slowed. 
    Vietnam extended losses for a second day, falling 1.1
percent, dragged down by financials and energy stocks.
    Petrovietnam Gas Joint Stock Corp lost 2.3 percent.
    Philippines ended marginally higher.
    

For Asian Companies click;  

SOUTHEAST ASIAN STOCK MARKETS    
  STOCK MARKETS                                   
  Change on day                                   
  Market           Current     Previous   Pct Move
                               Close      
  Singapore        2945.74     2919.54    0.90
  Bangkok          1510.03     1492       1.21
  Manila           8051.97     8036.01    0.20
  Jakarta          5242.823    5172.83    1.35
  Kuala Lumpur     1669.61     1670.55    -0.06
  Ho Chi Minh      660.26      667.76     -1.12
                                          
  Change on year                          
  Market           Current     End 2015   Pct Move
  Singapore        2945.74     2882.73    2.19
  Bangkok          1510.03     1288.02    17.24
  Manila           8051.97     6952.08    15.82
  Jakarta          5242.823    4593.008   14.15
  Kuala Lumpur     1669.61     1692.51    -1.35
  Ho Chi Minh      660.26      579.03     14.03
 
    
($1 = 13,090.0000 rupiah)

 (Reporting by Rushil Dutta; Additional reporting by Fransiska
Nangoy; Editing by Biju Dwarakanath and Sherry Jacob-Phillips)