August 15, 2016 / 5:46 AM / 2 years ago

SE Asia Stocks-Indonesia hits 2-wk low as July exports, imports dive

By Anusha Ravindranath
    Aug 15 (Reuters) - Indonesian shares fell to two-week lows
on Monday as a slump in July exports and imports dampened
investor sentiment, while Malaysia hit a three-and-a-half month
high, led by energy stocks on firm oil prices.
    The Jakarta Composite Index declined as much as 1.3
percent and was headed for its fifth straight session of losses.
    Indonesia's exports and imports plunged on an annual basis
in July, the statistics bureau said, confounding expectations
for the first growth in 22 months. 
    Meanwhile, sentiment in Asian markets got a slight boost
after a rally in Chinese stocks helped offset news of Japan's
economic growth slowing to a halt last quarter. 
    MSCI's broadest index of Asia-Pacific shares outside Japan
 recouped early losses to stand steady.   
    Malaysian shares were headed for their fourth
straight session of gains as energy stocks such as Sapurakencana
Petroleum Bhd rose.
    Oil prices edged up in early trades as speculation
intensified about potential producer action to support prices in
an oversupplied market. 
    Thai shares eked out small gains as strong
second-quarter GDP growth data offset investor concerns over
last week's bomb blasts. 
    Thailand's economy grew more than expected in the second
quarter, helped by solid government and tourist spending, while
the planning agency kept its forecast for all of 2016 unchanged.
    In the long term, the news of GDP growth will create
positive sentiment, said Sumek Chantrasuriyarat, an analyst with
Thailand-based KGI, adding that the impact of the bomb blast
might not be serious and that the overall market sentiment
seemed to be neutral. 
    Philippine shares hit a more than one-week low,
dragged down by financial stocks, with Metropolitan Bank and
Trust Co among the top percentage losers.

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  STOCK MARKETS                                        
 Change on 0508                                        
  Market           Current       previous     Pct Move
  Singapore        2870.46       2867.4       0.11
  Bangkok          1554.64       1552.64      0.13
  Manila           7369.68       7376.41      -0.09
  Jakarta          5313.687      5377.196     -1.18
  Kuala Lumpur     1686.22       1684.15      0.12
  Ho Chi Minh      656.81        655.71       0.17
  Change so far                               
 this year                                    
  Market           Current       End prev yr  Pct Move
  Singapore        2870.46       2882.73      -0.43
  Bangkok          1554.64       1288.02      20.70
  Manila           7369.68       6952.08      6.01
  Jakarta          5313.687      4593.008     15.69
  Kuala Lumpur     1686.22       1692.51      -0.37
  Ho Chi Minh      656.81        579.03       13.43

 (Reporting by Anusha Ravindranath in Bengaluru; Editing by
Subhranshu Sahu)
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