October 4, 2019 / 10:19 AM / 14 days ago

SE Asia Stocks-Philippines jumps over 2%; most others fall

    * Philippine Sept inflation slows more than expected
    * Indonesia snaps five straight sessions of losses
    * Malaysian exports miss estimates by a wide margin

    By Shreya Mariam Job
    Oct 4 (Reuters) - Philippine stocks jumped over 2% on
Friday, their best in nearly two months, as soft inflation data
raised scopes for policy easing by the central bank, while most
other Southeast Asian stock markets edged lower.
    The Philippine headline inflation rate of 0.9% last month
was the slowest in more than three years. It was below the 1.1%
forecast in a Reuters poll and was within the central bank's
0.6% to 1.4% forecast for the month.
    Inflation peaked at a near-decade high of 6.7% in September
and October last year. Overall prices have since eased, allowing
the central bank to start reversing some of last year's 175
basis points of interest rate hikes.
    "With this environment, the BSP (Bangko Sentral ng
Pilipinas) has scope to ease policy rates further should other
data points warrant it, but for the most part the price
objective remains well in hand," ING said in a note.
    Shares of SM Prime Holdings Inc rose 4% to a more
than two-month closing high, while Ayala Land climbed
2.7%. 
    Indonesian stocks snapped five consecutive sessions
of losses, buoyed by materials and financials.
    Shares of Sinar Mas Multiartha and Semen Indonesia
 rose 7% and 6.55, respectively. 
    Other Southeast Asian equity markets edged lower as
investors grew wary ahead of U.S. jobs data and U.S. Federal
Reserve Chair Jerome Powell's speech. Investors will look for
signals on future rate cuts from these two events.
    Malaysian stocks closed 0.4% lower, partially
recovering from earlier falls on weak August trade data. 
    Exports fell 0.8% in August, contracting after an unexpected
rebound in the previous month, and far worse than the 2.5%
increase forecast in a Reuters poll.
    Among losers, Kuala Lumpur Kepong Bhd slumped 6.8%
following a block trade of 31.6 million secondary shares of the
plantation company. 
    Singapore stocks shed 0.3% on the back of financials
and telecoms.

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SOUTHEAST ASIAN STOCK MARKETS
    
 Change on the day                                
 Market                 Current   Previous close  Pct Move
 Singapore              3078.36   3087.97         -0.31
 Bangkok                1605.96   1610.69         -0.29
 Manila                 7704.6    7545.55         2.11
 Jakarta                6061.252  6038.529        0.38
 Kuala Lumpur           1557.67   1564.12         -0.41
 Ho Chi Minh            987.59    989.67          -0.21
                                                  
 Change so far in 2019                            
 Market                 Current   End 2018        Pct Move
 Singapore              3078.36   3068.76         0.31
 Bangkok                1605.96   1563.88         2.69
 Manila                 7704.6    7,466.02        3.20
 Jakarta                6061.252  6,194.50        -2.15
 Kuala Lumpur           1557.67   1690.58         -7.86
 Ho Chi Minh            987.59    892.54          10.65
 
 (Reporting by Shreya Mariam Job in Bengaluru; Editing by
Subhranshu Sahu)
  
Nuestros Estándares:Los principios Thomson Reuters
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