May 7, 2018 / 10:32 AM / a year ago

SE Asia Stocks-Indonesia bounces back on consumer stocks; Malaysia falls further

    * Indonesia rises most in 3-1/2 months
    * Malaysia extends fall into fourth session
    * Vietnam rises 3.5 pct, most since mid-Feb

    By Karthika Suresh Namboothiri
    May 7 (Reuters) - Indonesian shares rose 1.6 percent on
Monday, driven by gains in consumer stocks on the likelihood of
a higher palm oil import quota from China, while Malaysian
shares fell for a fourth straight session ahead of the general
elections on Wednesday.
    China is open to increasing its import quota for Indonesian
palm oil by at least 500,000 tonnes, Premier Li Keqiang said on
    This drove consumer stocks, according to Stephen Innes, head
of trading for Asia Pacific Oanda.
    Indonesia is the world's biggest producer of palm oil.    
    The Jakarta SE Composite Index, which has been the
second worst performer so far this year, snapped two consecutive
sessions of decline and posted its sharpest gain in
three-and-a-half months.
    Meanwhile, Indonesia's economy grew 5.06 percent on an
annual basis in the first quarter, weaker than the previous
quarter's 5.19 percent and a Reuters poll forecast of 5.18
    The finance minister said the first-quarter growth was a
"positive" development, as investment grew more than 7 percent
from a year earlier while exports increased 6 percent.

    An index of Indonesia's 45 most liquid stocks
gained 2.3 percent.
    Among other Southeast Asian stock markets which gained,
Vietnam jumped 3.45 percent, the most since mid-February.
Financials were the top performers with Vietcombank
rising 5.3 percent to a two-week closing high.
    Malaysian stocks closed 0.7 percent lower, largely
pulled down by financials. CIMB Group Holdings ended
1.5 percent lower, extending losses into a fifth session, while 
Malayan Banking Bhd dropped 0.8 percent.
    Philippine shares slipped 0.2 percent to their lowest
close in more than two weeks. Security Bank Corp was
the biggest drag with a drop of 2.7 percent.
    Singapore shares fell 0.4 percent to their lowest 
close in nearly three weeks. Index heavy-weight Oversea-Chinese
Banking Corp declined 3.5 percent after the lender
posted quarterly profit below estimates.
For Asian Companies click;  

 Change on the day                            
 Market             Current   Previous close  Pct Move
 Singapore          3532.86   3545.38         -0.35
 Bangkok            1779.8    1779.87         0.00
 Manila             7533.28   7546.19         -0.17
 Jakarta            5885.098  5792.345        1.60
 Kuala Lumpur       1828.2    1841.83         -0.74
 Ho Chi Minh        1062.26   1026.8          3.45
 Change on year                               
 Market             Current   End 2017        Pct Move
 Singapore          3532.86   3402.92         3.82
 Bangkok            1779.8    1753.71         1.49
 Manila             7533.28   8558.42         -11.98
 Jakarta            5885.098  6355.654        -7.40
 Kuala Lumpur       1828.2    1796.81         1.75
 Ho Chi Minh        1062.26   984.24          7.93
 (Reporting by Karthika Suresh Namboothiri; Editing by
Subhranshu Sahu)
Nuestros Estándares:Los principios Thomson Reuters
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