3 de diciembre de 2014 / 7:59 / hace 3 años

SE Asia Stocks -Malaysia, Indonesia shares retreat on oil price concerns

BANGKOK, Dec 3 (Reuters) - Malaysian shares fell and the
Indonesian benchmark snapped five days of gains on Wednesday
amid concerns over the impact of declining global oil prices
while stocks in Singapore eked out slim gains after a suspension
of trading in the early hours.
    Kuala Lumpur's composite index lost 1.2 percent. It
rebounded 0.4 percent on Tuesday amid technical-led buying after
suffering the worst single-day loss in almost 23 months on
Monday due to selloffs in oil and gas stocks.
    Shares of oil and gas firm Sapuracencana Petroleum 
and Petronas Chemicals Group led the losers.
    Broker Maybank Kim Eng Securities advised investors to sell,
citing technical indicators, and as crude oil markets remained
    Broker Affin Hwang Capital expected the market gain to be
short-lived amid a fall in the ringgit. 
    "Due to highly unfavourable anticipation of near term
movement in ringgit, we anticipate that any rebound in the
equity market might be short lived and hence trading will be
limited to a very short term horizon," Affin said in a report.
    The ringgit hit a near five-year low as a rebound in oil
failed to ease concerns over the impact of lower crude prices on
the country, a net oil exporter and major palm oil producer.
    Jakarta's composite index edged down 0.3 percent,
erasing some of the gains made in the preceding five trading
days when the falling oil price helped ease concerns about
fiscal and trade deficit of Indonesia.
    Shares of Indocement fell 1.8 percent after a
rally on Tuesday to a more than four-month high and shares of
Bank Mandiri eased 0.2 percent after three days of
    "The falling oil price is currently good for Indonesia but
will turn negative if oil price continue to fall and drag down
the rest of commodity with it," said Maybank KimEng (Indonesia)
in a report.
    Singapore's Straits Times Index traded a tad higher
after bourse operator Singapore Exchange Ltd delayed
the start of trading in securities due to a software defect.
    Stocks in Thailand and the Philippines were
little changed and Vietnam advanced, led by banking
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 Change at 0709 GMT
 Market             Current     Prev Close    Pct Move
 Singapore          3324.61       3322.32       +0.07
 Kuala Lumpur       1764.97       1785.97       -1.18
 Bangkok            1595.01       1594.00       +0.06
 Jakarta            5162.26       5175.79       -0.26
 Manila             7350.41       7344.23       +0.08
 Ho Chi Minh         575.95        569.43       +1.15
 (Reporting by Viparat Jantraprap; Additional reporting by
Fransiska Nangoy in Jakarta; Editing by Anupama Dwivedi)

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