April 15, 2019 / 9:45 AM / 8 months ago

SE Asia Stocks-Philippines hits over 1-month closing low; Indonesia gains

    * Philippines posts third consecutive loss
    * Singapore snaps four sessions of gains
    * Thai, Vietnam markets closed

    By Shreya Mariam Job
    April 15 (Reuters) - Philippine stocks closed at their
lowest level in more than a month on Monday, as investors locked
in profits ahead of the four-day weekend, while Indonesian
stocks moved higher buoyed by a surprise trade surplus in March.
    The Philippine benchmark fell 1.2 percent to its
lowest close since March 14, with a steep sell-off in the last
half hour of trade. 
    Industrials were the biggest drag on the index, with shares
of conglomerate Aboitiz Equity Ventures Inc dropping
5.1 percent to close at their lowest level since Jan. 2.
    "For this week, Philippine market is closed for Thursday and
Friday. What we are seeing now is a bit of profit taking because
some investors are looking to protect their capital," said
Rachelle C Cruz, an analyst with AP Securities.     
    Shares of Universal Robina Corp were also a major
drag, extending losses into a third straight session losing 3.6
percent. The company posted a 15 percent fall in full year net
    The sentiment toward the stock was also weaker in light of
rising competition in the coffee industry, after Mayora Indah
Tbk PT, producer of the coffee brand Kopiko, announced
 investments in Philippines for local manufacturing and
processing operations
    "In the long run, there might be more competition and that
may affect the growth prospects of URC," Rachelle added. 
    Singapore index edged lower, hurt by industrial and
financial stocks. 
    Jardine Matheson Holdings Ltd and Oversea-Chinese
Banking Corporation Ltd slid 0.2 percent and 0.6
percent, respectively.          
     Meanwhile, Indonesian shares gained 0.5 percent,
snapping three sessions of losses with a surprise trade surplus
in March buoying sentiment while political uncertainty ahead of
the presidential elections on Wednesday capped gains. 
     Indonesia posted a surprise trade surplus for a second
straight month in March, supporting the central bank's outlook
of a narrowing current account deficit, but economists warn a
trade deficit could return after Wednesday's presidential
    Consumer stocks boosted the index with Charoen Pokphand
Indonesia Tbk Pt rising 3 percent and Astra
International Tbk Pt firming 1.7 percent.
    Thailand and Vietnam markets were closed for
a holiday.

For Asian Companies click;  

 Change on the day                                
 Market                 Current   Previous close  Pct Move
 Singapore              3325.86   3331.98         -0.18
 Manila                 7787.98   7880.82         -1.18
 Jakarta                6435.151  6405.866        0.46
 Kuala Lumpur           1631.33   1630.17         0.07
 Change so far in 2019                            
 Market                 Current   End 2018        Pct Move
 Singapore              3325.86   3068.76         8.38
 Manila                 7787.98   7,466.02        4.31
 Jakarta                6435.151  6,194.50        3.88
 Kuala Lumpur           1631.33   1690.58         -3.50
 (Reporting by Shreya Mariam Job; Editing by Rashmi Aich)
Nuestros Estándares:Los principios Thomson Reuters
0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below