May 25, 2018 / 10:39 AM / 7 months ago

SE Asia Stocks-Malaysia snaps 4 sessions of fall, Indonesia gains further

    * Malaysia gains over 1 percent
    * Indonesia rises for fourth session

    By Binisha Ben
    May 25 (Reuters) - Malaysian shares rose more than 1 percent
on Friday and snapped four straight sessions of fall, as the
finance minister's announcement that the government would pay
all obligations on 1MDB debt calmed investors.
    The government will honour all payments on debt raised by
insolvent state fund 1Malaysia Development Berhad (1MDB), even
though it is unhappy about money missing from the fund, said
Finance minister Lim Guan Eng.
    Malaysian stocks closed the session 1.2 percent
higher, but the week 3.1 percent lower, the biggest since
September 2015, on concerns of worrying amounts of debts left
behind by the previous government.
    Public Bank Bhd and Tenaga Nasional were
the biggest boost with gains of 2.3 percent and 1.9 percent,
respectively.
    Among other Southeast Asian stock markets, Indonesian shares
 gave up early gains to close 0.5 percent higher, marking
their fourth session of gains.
    Financials accounted for most of the gains with Bank Negara
Indonesia (Persero) rising 3.9 percent and Bank
Central Asia climbing 0.5 percent.
    Bank Indonesia's newly sworn-in governor promised on
Thursday to focus on stabilising the rupiah in the near term and
to be "more pre-emptive" and ahead of the curve on monetary
settings.
    Investors welcomed the statement after weeks of weakness in
local assets on the back of capital flight fears.
    The key Jakarta stock index closed the week 3.3 percent
higher, the biggest since the week ended Dec. 30, 2016.
    An index of the country's 45 most liquid stocks
was up 0.5 percent on Friday.
    Singapore shares closed 0.4 percent lower after data
released earlier in the day showed that industrial production
rose at a slower-than-expected pace in April
month-on-month.
    For the week, Singapore stocks declined 0.5 percent,
in their second weekly drop.
    Philippine shares closed 0.1 percent lower, dragged
by financial and real estate stocks.
    The peso fell to a fresh 12-year low after the
central bank on Thursday announced its second cut in banks'
reserve requirement ratio in three months.
    The Philippine key stock index shed 0.3 percent this week.
    Vietnam shares closed 2.2 percent lower and Thai
stocks ended 0.5 percent higher.
    
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SOUTHEAST ASIAN STOCK MARKETS AS AT 1030 GMT
 Change on the day                            
 Market             Current   Previous close  Pct Move
 Singapore          3513.23   3528.92         -0.44
 Bangkok            1741.21   1732.51         0.50
 Manila             7647.51   7652.53         -0.07
 Jakarta            5975.742  5946.538        0.49
 Kuala Lumpur       1797.4    1775.66         1.22
 Ho Chi Minh        963.9     985.92          -2.23
                                              
 Change on year                               
 Market             Current   End 2017        Pct Move
 Singapore          3513.23   3402.92         3.24
 Bangkok            1741.21   1753.71         -0.71
 Manila             7647.51   8558.42         -10.64
 Jakarta            5975.742  6355.654        -5.98
 Kuala Lumpur       1797.4    1796.81         0.03
 Ho Chi Minh        963.9     984.24          -2.07
 
 (Reporting by Binisha Ben; Editing by Subhranshu Sahu)
  
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