October 4, 2019 / 4:58 AM / 5 months ago

SE Asia Stocks-Philippines jumps on policy easing hopes; weak data weighs on Malaysia

    * Philippines September annual inflation slower than
    * Indonesia set to snap five sessions of losses
    * Malaysia August exports fall 0.8%

    By Shreya Mariam Job
    Oct 4 (Reuters) - Philippine shares rose over 1% on Friday
as a slowing inflation in September raised hopes of further
monetary easing by the country's central bank, while Malaysian
stocks fell after its August exports widely missed estimates. 
    Philippine inflation rate slackened to an over three-year
low last month and was below the 1.1% forecast in a Reuters
    Last year in September and October, inflation rate had
peaked at a near-decade high of 6.7%. The current drop in prices
gives room to the central bank to reverse some of last year's
175-basis points' worth of interest rate hikes.
    However, the index is set for its biggest weekly loss in
nearly two months.     
    Shares of Ayala Land and SM Prime Holdings
gained 2.3% and 1.9%, respectively. 
    Malaysian stocks fell 0.7% after its August exports
    The country's exports contracted after an unexpected rebound
in the previous month. This compares to a Reuters poll estimate
of a 2.5% increase.
    A 7% drop in shares of Kuala Lumpur Kepong Bhd to
a four-year low also weighed on the market following a block
sale of around 31.6 million secondary shares of the company at
21 Malaysian ringgit($5.02) per share.
    Telecom stocks, meanwhile, were buoyed by a 1.5% rise in
shares of Maxis Bhd, the country's second-largest
mobile network operator by subscribers.
    Southeast Asian markets now await U.S. September non-farm
payrolls data and Fed chair Jerome Powell's speech for further
signs concerning the central bank's next rate decision.
    A flood of weak data from the world's largest economy could
prompt the U.S. Federal Reserve to cut interest rates again this
    "Powell's remarks will also be sieved for clues as to
policymakers' bias over the coming months, especially following
waning confidence over the health of the world's largest
economy," said by Han Tan, market analyst at FXTM.    
    Among other markets, Indonesia gained 0.3%, buoyed by
financial and consumer stocks, and was on track to snap five
consecutive sessions of losses. 
    Unilever Indonesia and Bank Rakyat Indonesia
 gained 0.8% and 3.2%, respectively. 
    Singapore stocks slipped 0.3%, with financials and
telecoms dragging the index. 

For Asian Companies click;  

 Change on the day                                
 Market                 Current   Previous close  Pct Move
 Singapore              3077.7    3087.97         -0.33
 Bangkok                1611.41   1610.69         0.04
 Manila                 7630.04   7545.55         1.12
 Jakarta                6059.269  6038.529        0.34
 Kuala Lumpur           1553.76   1564.12         -0.66
 Ho Chi Minh            991.91    989.67          0.23
 Change so far in 2019                            
 Market                 Current   End 2018        Pct Move
 Singapore              3077.7    3068.76         0.29
 Bangkok                1611.41   1563.88         3.04
 Manila                 7630.04   7,466.02        2.20
 Jakarta                6059.269  6,194.50        -2.18
 Kuala Lumpur           1553.76   1690.58         -8.09
 Ho Chi Minh            991.91    892.54          11.13

($1 = 4.1820 ringgit)

 (Reporting by Shreya Mariam Job in Bengaluru; editing by
Nuestros Estándares:Los principios Thomson Reuters
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