September 19, 2018 / 3:25 AM / a month ago

SE Asia Stocks-Rise as investors shrug off trade worries; Indonesia up 1 pct

    * Indonesia up after two sessions of losses
    * Malaysian shares hit one-week high

    By Sumeet Gaikwad
    Sept 19 (Reuters) - Southeast Asian stock markets rose on
Wednesday, in line with Asian peers, with investors shrugging
off trade war worries as the latest round of tariffs between
Washington and Beijing was seen as being less severe than
expected. 
    China imposed tariffs on about $60 billion worth of U.S.
goods in retaliation to U.S. President Donald Trump's 10 percent
tariffs on of Chinese goods.
    MSCI's broadest index of Asia-Pacific shares outside Japan
 was up 0.7 percent.
    "Financial markets may be turning slightly blase towards the
U.S.-China tit-for-tat trade war, with China's retaliation of
tariffs on $60 billion of U.S. imports .... providing some
respite to the sell-off for selected Asian bourses," OCBC said
in a note.
    The Jakarta index rose after two sessions of losses,
helped by consumer stocks. 
    Diversified conglomerate Astra International was
up over 2 percent, while Unilever Indonesia added 2.6
percent to the benchmark.
    The index of the country's 45 most liquid stocks
rose 1.2 percent. 
    Financial shares helped the Malaysian index to hit a
one-week high, as the market awaits August inflation data.
    Malaysia's consumer price index likely rose 0.4 percent in
August from a year earlier, its slowest pace in more than three
years, a Reuters poll showed.
    CIMB Group Holdings and Public Bank Bhd
were up 1 percent and 0.6 percent, respectively. 
    Philippine stocks fell marginally as losses in
financials outweighed gain in industrial stocks. Bank of the
Philippine Islands was down nearly 2 percent, while SM
Investments Corp was up 0.7 percent. 
    The Philippine central bank signalled a fourth hike in its
benchmark interest rates this year, a central bank official said
on Tuesday, as policymakers boost efforts to tame a nearly
decade-high inflation and support the local currency.

    Thai shares rose for a second straight session with
gains across sectors. 
    Oil and gas producer PTT Pcl was up nearly 1
percent while TMB Bank jumped nearly 10 percent.
    Thailand's central bank is expected to yet again leave its
key interest rate near record lows on Wednesday as it focuses on
supporting growth as inflation remains benign, but analysts say
policy tightening could be on the cards before year-end.

        
For Asian Companies click;  

SOUTHEAST ASIAN STOCK MARKETS: AS AT 0317GMT
 Market             Current   Previous close  Pct Move
 Singapore          3152.46   3139.34         0.42
 Bangkok            1749.26   1744.42         0.28
 Manila             7280.3    7286.34         -0.08
 Jakarta            5872.692  5811.79         1.05
 Kuala Lumpur       1801.43   1792.94         0.47
 Ho Chi Minh        998.93    993.49          0.55
                                              
 Change on year                               
 Market             Current   End 2017        Pct Move
 Singapore          3152.46   3402.92         -7.36
 Bangkok            1749.26   1753.71         -0.25
 Manila             7280.3    8558.42         -14.93
 Jakarta            5872.692  6355.654        -7.60
 Kuala Lumpur       1801.43   1796.81         0.26
 Ho Chi Minh        998.93    984.24          1.49
 
 (Reporting by Sumeet Gaikwad in Bengaluru; Editing by Sunil
Nair)
  
0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below