August 15, 2016 / 10:12 AM / 2 years ago

SE Asia Stocks-Malaysia hits 3-1/2 month high on crude gains; Indonesia down

By Anusha Ravindranath
    Aug 15 (Reuters) - Indonesian shares fell to two-week lows
on Monday after a sharp drop in July exports and imports
dampened investor sentiment, while Malaysian stocks hit
three-and-a-half month highs as energy stocks gained on firm oil
    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. 
    The Jakarta Composite Index closed 1.1 percent
lower, after declining as much as 1.5 percent earlier in the
session to its lowest since Aug. 1.
    Meanwhile, sentiment in Asian markets got a boost after a
rally in Chinese stocks helped offset news of Japan's economic
growth slowing to a halt last quarter.        
    Malaysian shares hit a three-and-a-half month high,
helped by energy stocks after oil prices rose to fresh highs for
the month of August. Sapurakencana Petroleum Bhd 
gained 4.7 percent.
    Thai shares closed marginally lower, after hitting a
15-month peak on forecast-beating second-quarter GDP growth
    Thailand's economy beat expectations in the second quarter
to grow at its fastest annual rate in 13 quarters, due to high
state and tourist spending. 
    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 bomb blast might
not be serious and that the overall market sentiment seemed to
be neutral.
    Four people were killed and dozens were wounded in a series
of bomb and arson attacks in some of Thailand's best-known
southern resorts and islands, last week. 
    Philippine shares recovered from earlier losses to
close marginally higher, while Vietnam ended up 0.57
percent, driven by oil and gas stocks including Petrovietnam Gas
Joint Stock Corp.
    Singapore shares closed almost steady with financial
stocks among the top losers. 
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  STOCK MARKETS                                        
 Change on the                                         
  Market           Current       previous     Pct Move
  Singapore        2867.21       2867.4       -0.01
  Bangkok          1549.11       1552.64      -0.23
  Manila           7960.17       7955.86      0.05
  Jakarta          5320.561      5377.196     -1.05
  Kuala Lumpur     1690.33       1684.15      0.37
  Ho Chi Minh      659.47        655.71       0.57
 Change so far                                
 this year                                    
  Market           Current       End prev yr  Pct Move
  Singapore        2867.21       2882.73      -0.54
  Bangkok          1549.11       1288.02      20.27
  Manila           7960.17       6952.08      14.50
  Jakarta          5320.561      4593.008     15.84
  Kuala Lumpur     1690.33       1692.51      -0.13
  Ho Chi Minh      659.47        579.03       13.89
 (Reporting by Anusha Ravindranath in Bengaluru; Editing by
Subhranshu Sahu)
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