July 20, 2016 / 5:11 AM / 2 years ago

SE Asia Stocks-Indonesia hits more than 1-year high; S'pore up nearly 1 pct

By Rushil Dutta
    July 20 (Reuters) - Most Southeast Asian stocks traded flat
to higher on Wednesday, with Indonesia climbing to a near
14-month high, extending a rally into a fourth consecutive
session on continued investor risk appetite, while limited oil
gains aided Singapore stocks.
    Indonesia's main index gained as much as 0.9 pct,
rising to its highest since late-May 2015, led by consumer
staples and consumer cyclicals.
    "We expect JCI (Jakarta Composite Index) to trend higher
today as broader risk-on sentiment still remains intact," said
Taye Shim, an analyst with Jakarta-based Daewoo Securities.
    "Yesterday, foreigners net bought Indonesian equities worth 
803 billion rupiah ($61.34 million), pushing up the JCI by 0.9
percent. However, we see near-term challenges as investors are
likely to seek evidences like 2Q16 corporate earnings, GDP
growth, fund repatriation etc., to justify the recent price
    Investors are also expected to keep an eye out for a
decision on interest rates by the Indonesian central bank on
    Cigarette-makers Hanjaya Mandala Sampoerna Tbk PT 
and Gudang Garam gained 4 percent and 2.7 percent
    Singapore's Straits Times Index gained 0.8 percent,
driven by oil and gas stocks and consumer services.
     Oil futures rose in Asian trading on Wednesday but gains
were limited and U.S. crude traded sideways in advance of the
release of official weekly inventory figures later in the day.
    Oil-rig companies Sembcorp Industries gained 2.1
pct, while Keppel Corp was up 0.5 pct. Sembcorp
Industries was among the biggest gainers on the index.
    Thai stocks rose 0.7 percent to a 1-year high, after
a four-day long weekend break.
    Gains were led by telecom and basic materials. Advanced Info
Service PCL rose 2.7 percent.
    Malaysia lost 0.4 percent, shrugging off government
data showing a fourth consecutive month in which the inflation
rate has slowed. 
    Vietnam extended losses, while Philippine stocks
 was flat.

For Asian Companies click;  

 STOCK MARKETS                                      
 Change at 0423 GMT                                 
 Market                   Current   Previous close  Pct Move
 Singapore                2943.92   2919.54         0.84
 Bangkok                  1503.25   1492            0.75
 Manila                   8028.42   8036.01         -0.09
 Jakarta                  5216.554  5172.83         0.85
 Kuala Lumpur             1664.38   1670.55         -0.37
 Ho Chi Minh              661.85    667.76          -0.89
 Change on year                                     
 Market                   Current   End 2015        Pct Move
 Singapore                2943.92   2882.73         2.12
 Bangkok                  1503.25   1288.02         16.71
 Manila                   8028.42   6952.08         15.48
 Jakarta                  5216.554  4593.008        13.58
 Kuala Lumpur             1664.38   1692.51         -1.66
 Ho Chi Minh              661.85    579.03          14.30

($1 = 13,090.0000 rupiah)

 (Reporting by Rushil Dutta; Editing by Biju Dwarakanath)
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