May 17, 2017 / 5:08 AM / a year ago

SE Asia Stocks-Indonesia hits 4-wk low; S'pore extends losses

    By Anusha Ravindranath
    May 17 (Reuters) - Most Southeast Asian stock markets were
subdued on Wednesday, with Indonesia hitting a near four-week
low, while Singapore extended losses to touch its lowest in two
weeks after the city-state's exports growth contracted in April.
    Regional markets were in line with the weakness in broader
Asia, with MSCI's broadest index of Asia-Pacific shares outside
Japan down 0.5 percent, amid concerns over U.S.
President Donald Trump's ability to push through an aggressive
stimulus programme after he reportedly asked then-FBI Director
James Comey to end a probe into his former national security
    Indonesia fell as much as 0.7 percent, dragged down by
financial and consumer cyclical stocks.
    "Because of the political uncertainties, it is now unlikely
that S&P would upgrade Indonesia to investment grade," said
Harry Su, head of research at Jakarta-based Bahana Securities.
    Political unrest has ensued in Indonesia, after its outgoing
Christian governor Basuki Tjahaja Purnama was jailed last week
on the grounds of insulting the Koran in the Muslim-majority
    Bank Central Asia Tbk PT lost 2.4 percent,  while 
 Astra International Tbk PT shed 2 percent. 
    Meanwhile, Singapore stocks fell for a second
session, driven by losses in financials and consumer services
    Singapore's non-oil domestic exports unexpectedly dropped in
April after five consecutive months of growth, due to a sharp
decline in pharmaceutical exports. In the wake of weakening
demand, the country's exports to China also took a hit in April,
compared with March. 
    "The pullback of Singapore's April NODX into the contraction
zone may have alarmed many market watchers, especially since it
was growing at an average growth of 14 percent over the past 5
months," United Overseas Bank said in a note.
    Jardine Cycle & Carriage and Oversea-Chinese
Banking Corp were among top losers, falling 2.3
percent and 1.2 percent, respectively. 
    Malaysian shares hit a one-week low, with utility
stocks and financials weighing on the index. Malaysian consumer
prices rose 4.4 percent in April due to rising
transport and food costs, government data showed.
    Petronas Gas Bhd was the worst performer, dropping
4.6 percent. 
    Bucking the trend, Thai shares edged higher, while
Philippine shares rose as much as 0.7 percent.  Data
showed the region saw more foreign buying during the month of
April, after two months of outflows.  (
For Asian Companies click;  

  STOCK MARKETS                                        
 Change at 0441                                        
  Market           Current       Previous     Pct Move
  Singapore        3213.92       3227.71      -0.43
  Bangkok          1548.65       1546.35      0.15
  Manila           7829.83       7791.07      0.50
  Jakarta          5625.783      5646.999     -0.38
  Kuala Lumpur     1771.48       1778.15      -0.38
  Ho Chi Minh      725.25        725.03       0.03
 Change so far                                
 this year                                    
  Market           Current       End 2016     Pct Move
  Singapore        3213.92       2880.76      11.57
  Bangkok          1548.65       1542.94      0.37
  Manila           7829.83       6840.64      14.5
  Jakarta          5625.783      5296.711     6.21
  Kuala Lumpur     1771.48       1641.73      7.90
  Ho Chi Minh      725.25        664.87       9.08

 (Reporting by Anusha Ravindranath in Bengaluru; Editing by
Amrutha Gayathri)
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