January 22, 2019 / 10:23 AM / 3 months ago

SE Asia Stocks-Most recover; Singapore falls about 1 pct

    * Thailand gains for fifth straight session
    * Malaysia posts over 1-1/2-mth closing high

    By Shreya Mariam Job
    Jan 22 (Reuters) - Most Southeast Asian stock markets
recovered from early falls to close higher on Tuesday as
investors moved past a cut in global growth forecast by the
International Monetary Fund.
    The IMF predicted the global economy to grow at 3.5 percent
in 2019 and 3.6 percent in 2020, down 0.2 and 0.1 percentage
point respectively from last October's forecasts, in its World
Economic Outlook report released on Monday.
    "We do not believe investors are likely to overreact, given
softening economic growth in China was well flagged by investors
as well as a slowdown in global growth," said Taye Shim, head of
research at Mirae Asset Sekuritas, referring to the IMF
forecast.
    Thai shares were the top performers in Southeast
Asia, extending gains into a fifth session on healthcare and
energy stocks.
    Attributing the rise mainly to Bangkok Dusit Medical
Services PCL, Teerada Charnyingyong, an analyst with
Phillip Capital Thailand, said, "The major event is the
government has been trying to control medical services and
medicine prices, and it seems that the companies are proofing
their principles… I think investors interpret it as good news."
    Shares of Bangkok Dusit Medical, Thailand's largest hospital
operator, climbed 5.1 percent, the most since June 20, 2018.    
    Malaysian shares climbed for a third straight
session and closed at their highest in more than one-and-a-half
months.
    Among top contributors, Axiata Group rose 1.5
percent to an over three-month closing high, while CIMB Group
Holdings Bhd added 1.8 percent.
    Among losers, Singapore shares fell nearly 1 percent,
hurt by telecommunication and financial stocks.
    Conglomerate Keppel Corp dropped 2.1 percent,
mobile operator M1 Ltd dipped 1 percent and Singapore
Press Holdings declined 0.4 percent.
    Earlier in the day, Keppel and Singapore Press Holdings said
they would not raise their offer price to gain majority control
of M1 Ltd, a move that could put pressure on Axiata Group
, M1's single largest shareholder.
    Financials also declined with DBS Group Holdings Ltd
 and Oversea-Chinese Banking Corporation Ltd
shedding 1.8 percent and 2 percent, respectively.
    Meanwhile, the city-state is expected to release inflation
data for December on Wednesday. A Reuters poll showed the 
headline consumer price index probably rose to 0.4 percent in
December from a year earlier.  
    Vietnam shares fell after the previous session's
sharp gains, dragged by financial and real estate stocks.
    Vietnam National Petroleum Group fell 3.3 percent,
while Joint Stock Commercial Bank for Foreign Trade of Viet Nam
 dropped 1.1 percent.      

    
For Asian Companies click;  

SOUTHEAST ASIAN STOCK MARKETS    
    
 Change on the day                                
 Market                 Current   Previous close  Pct Move
 Singapore              3192.71   3220.56         -0.86
 Bangkok                1601.77   1588.38         0.84
 Manila                 8008.67   8007.46         0.02
 Jakarta                6468.562  6450.834        0.27
 Kuala Lumpur           1702.12   1692.22         0.59
 Ho Chi Minh            906.55    911.05          -0.49
                                                  
 Change so far in 2019                            
 Market                 Current   End 2018        Pct Move
 Singapore              3192.71   3068.76         4.04
 Bangkok                1601.77   1563.88         2.42
 Manila                 8008.67   7,466.02        7.27
 Jakarta                6468.562  6,194.50        4.42
 Kuala Lumpur           1702.12   1690.58         0.68
 Ho Chi Minh            906.55    892.54          1.57
 
 (Reporting by Shreya Mariam Job in Bengaluru; Editing by
Subhranshu Sahu)
  
Nuestros Estándares:Los principios Thomson Reuters
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