April 15, 2016 / 10:42 AM / 2 years ago

SE Asia Stocks-Mixed; Indonesia reverses losses after c.bank rate move

JAKARTA, April 15 (Reuters) - Most Southeast Asian stock
markets closed higher on Friday as investors eyed oil prices
ahead of a producers' meeting on Sunday, while Indonesia
reversed losses earlier in the day following Bank Indonesia's
new benchmark rate announcement.
    Major oil exporters are slated to meet on Sunday to discuss
efforts to contain global over-production, while Bank Indonesia
announced that it would use the 7-day reverse repo as the new
benchmark rate, effective Aug. 19.  
    Singapore's stock index was up 0.3 percent, posting
its best weekly gain in six weeks after rallying on rising oil
prices earlier in the week. 
    Banking and some property stocks were up, while oil drilling
company Sembcorp Marine Ltd fell for a second day
after touching a near five-month closing high earlier in the
    "Investors are generally cautious over the movement of oil
prices pending the upcoming April 17 meeting between OPEC and
non-OPEC member countries," KDB Daewoo Securities Indonesia said
in a note.
    Indonesia's stock index edged up 0.2 percent by
closing time after losing as much as 0.5 percent during the day.
The index was helped by a 6.6-percent rally by automotive
distributor PT Astra International to a more than
10-month high.
    Indonesian banks fell, with PT Bank Mandiri 
posting its biggest one-day loss since Nov. 30 and PT Bank
Rakyat Indonesia fell to its lowest closing level
since Oct. 13.
    Trimegah Securities said in a note that the Indonesian
central bank's policy change on benchmark rates will improve
liquidity and lending, but that investors in the short-term will
focus on lower net interest margin risks for banks.     
    Malaysian stocks rose 0.2 percent, while the
Philippines fell 0.5 percent led by property developer
Ayala Land Inc which lost 1.3 percent.
For Asian Companies click;  

 Change on day
 Market           Current      Prev     Pct move
 Singapore          2923.94    2913.93       0.34
 Kuala Lumpur       1727.99    1723.78       0.24
 Jakarta            4823.59    4814.85       0.18
 Manila              7321.3    7357.28      -0.49
 Ho Chi Minh         579.86     579.49       0.06
 Change on year
 Market           Current    End 2015   Pct move
 Singapore          2923.94    2882.73       1.43
 Kuala Lumpur       1727.99    1692.51       2.10
 Bangkok            1385.42    1288.02       7.56
 Jakarta           4823.568   4593.008       5.02
 Manila              7321.3    6952.08       5.31
 Ho Chi Minh         579.86     579.03       0.14

 (Reporting by Fransiska Nangoy; Editing by Biju Dwarakanath)
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