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SE Asia Stocks - Indonesia rebounds; vote result next week in focus
July 15, 2014 / 6:55 AM / in 3 years

SE Asia Stocks - Indonesia rebounds; vote result next week in focus

BANGKOK, July 15 (Reuters) - Indonesian stocks rose on
Tuesday as battered large-caps rebounded ahead of the official
results of the presidential election next week while
commodity-related shares fell across the region amid weakness in
crude oil markets. 
    Shares of Bank Rakyat Indonesia and Kalbe Farma
, which had been hit by profit-taking since Friday, saw
good buying activity. The Jakarta composite index was up
0.5 percent at midday.
    Optimism around a possible win for Jakarta Governor Joko
"Jokowi" Widodo, seen as more market friendly, sent stocks to an
over-13-month high on Thursday, a day after the election.
    Investors sold the overbought market on Friday and Monday as
some caution remained over the vote count, with rival candidate
former general Prabowo Subianto also announcing a victory.
    "We continue to suggest buying on weakness ahead of the
KPU's (the Elections Commission) official announcement on
presidential election on July 22," analysts at broker Trimegah
Securities wrote in a market strategy report.
    Shares of palm plantation firms and energy companies were
among the weak spots in Southeast Asia, with Malaysian palm oil
futures falling to a more than nine-month low in line with weak
oil prices.  
    Indonesia's palm plantation firm Astra Agro Lestari
 hit a three-month low, Singapore's Keppel Corp
 pulled back after gains over the past three days and
Thailand's PTT fell almost 1 percent at one point.
    Bangkok's SET index inched 0.2 percent lower at
midday amid technical-led selling after 12 consecutive days of
    Singapore and the Philippines were
range-bound while Vietnam's blue-chips traded mostly
higher ahead of the earnings season. 
    Malaysia is shut for a market holiday and will reopen on
    Asian shares rose on Tuesday after Citigroup's earnings and
a fresh round of merger and acquisition activity in the U.S.
healthcare industry lifted global share prices. 
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For South East Asia Hot Stock reports, click;

 Change at 0609 GMT
 Market             Current     Prev Close    Pct Move
 TR SE Asia Index*   438.72        439.24       -0.12
 Singapore          3289.23       3290.98       -0.05
 Kuala Lumpur          --         1883.15         -- 
 Bangkok            1526.53       1529.23       -0.18
 Jakarta            5047.96       5021.06       +0.54
 Manila             6823.54       6830.37       -0.10
 Ho Chi Minh         589.11        586.23       +0.49 
 * The Thomson Reuters South East Asia Index is a
highly representative indicator of stocks listed in Indonesia,
Malaysia, the Philippines, Singapore, Thailand and Vietnam.

 (Reporting by Viparat Jantraprap; Editing by Sunil Nair)

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