July 19, 2016 / 9:57 AM / 2 years ago

SE Asia Stocks-Singapore slips on lower oil prices; Vietnam down nearly 1 pct

By Aparajita Saxena
    July 19 (Reuters) - Southeast Asia stocks were sluggish on
Tuesday, with Vietnam closing nearly 1 percent lower after blue
chips lost ground, while Singapore fell, dragged down by oil and
gas stocks.
    Vietnam slipped in afternoon trade, dragged down by
energy stocks, with top-listed energy firm by value Petrovietnam
Gas Joint Stock Corp down 1.54 percent.
    Singapore finished down 0.3 percent, tracking lower
global oil prices. 
    Oil prices eased on Tuesday as concerns over a crude and
refined fuel glut outweighed an expected cut in U.S. shale
production and a probable further draw in U.S. crude
inventories. It fell more than 1 percent in the previous
    Oil rig builders Sembcorp Industries Ltd, Sembcorp
Marine Ltd and Keppel Corp were among the
biggest losers.
    Indonesian stocks however closed nearly 1 percent
higher after the government started implementing its new tax
amnesty programme to bring home billions of dollars citizens
have parked overseas. 
    "Positive sentiment from tax amnesty will continue, although
the market will start looking closely at the effectiveness of
this regulation," Richard Jerry, an analyst with BNI Securities
said, adding investors would focus on Q2 earnings results
starting later this week.
    Bank Central Asia Tbk, the country's largest bank
by market value, is expected to report its earnings on Wednesday
after markets close.
    Philippine stocks recovered from the previous
session's losses to close 0.6 percent higher, led by utilities
and consumer cyclicals.
    "The market is no longer cheap. Analysts are therefore
looking forward to the earnings season and hopefully we'll see a
lot of companies beating expectations to justify further
increase in share prices," said April Lee Tan, an analyst with
Manila-based COL Financial Inc.
     Energy company Aboitiz Equity Ventures Inc rose
3.35 percent, while International Container Terminal Services
Inc gained 1.50 percent.
    Malaysia ended flat, while Thai stock markets were
closed on Tuesday for a national holiday. 
  STOCK MARKETS                                              
  Change on day                                              
  Market              Current       Previous close  Pct Move
  Singapore           2919.54       2928.76         -0.31
  Manila              8036.01       7986.25         0.62
  Jakarta             5172.83       5127.501        0.88
  Kuala Lumpur        1670.55       1670.84         -0.02
  Ho Chi Minh         667.76        673.5           -0.85
  Change on year                                    
  Market              Current       End 2015        Pct Move
  Singapore           2919.54       2882.73         1.28
  Manila              8036.01       6952.08         15.59
  Jakarta             5172.83       4593.008        12.62
  Kuala Lumpur        1670.55       1692.51         -1.30
  Ho Chi Minh         667.76        579.03          15.32
For Asian Companies click;  

 (Reporting by Aparajita Saxena; Additional reporting by
Fransiska Nangoy in Jakarta; Editing by Biju Dwarakanath)
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