July 4, 2018 / 10:27 AM / 3 months ago

SE Asia Stocks-Bounce back; Indonesia gains 1.8 pct

    * Philippine shares recover to close over 1 pct higher
    * Indonesia falls 1.4 pct intraday to 15-month trough

    By Sumeet Gaikwad
    July 4 (Reuters) - Southeast Asian stock markets bounced
back from early falls on Wednesday as investors sought bargains
following recent losses fuelled by escalating fears of a
Sino-U.S. trade war.
    Indonesian shares snapped two consecutive sessions
of decline and closed 1.8 percent higher after declining 1.4
percent to a 15-month low earlier in the session.
    Financials were the top contributors with Bank Central Asia
 rising 3 percent and Unilever Indonesia
gaining 4 percent. 
    Indonesia plans to review the import of capital goods for
big government projects to help manage its current account
deficit, the finance minister said on Tuesday, part of a series
of coordinated policy measures to bolster its financial markets.

    Philippine shares recouped early losses to close over
1 percent higher, extending gains into a fourth session.
    Real estate and industrial stocks were the top boosts with
SM Prime Holdings and SM Investments Corp
rising 2.8 percent and 1.1 percent, respectively. 
    Investors now await annual inflation data due on Thursday
for further cues. Inflation likely quickened for a sixth
straight month in June, a Reuters poll showed, leaving the door
open for a third interest rate hike this year.
    "The Philippines has entered bear territory, and valuations
have already gone down below five- and 10-year historical
averages. We are beginning to see some foreign (players) take
advantages of market valuations given that we are significantly
off the highs. So, some bargain hunting is also happening," said
Lexter Azurin, an analyst with AB Capital Securities.
    Foreign investors bought Philippine equities worth 449.8
million pesos ($8.43 million) on Wednesday, stock exchange data
showed.
    Financials helped Singapore shares rise 0.3 percent
after declining in the previous two sessions. United Overseas
Bank closed 1.6 percent higher.
    Meanwhile, the central bank chief warned that risks to the
global growth outlook have increased significantly, due to an
intensifying international trade row and the rising prospect of
a rapid acceleration in inflation.
    Vietnam shares rose 1 percent, helped by real estate
stocks, after shedding more than 4 percent in the previous
session.
    Vinhomes JSC jumped about 7 percent, while Vingroup
JSC closed 5.3 percent higher.
    Thai stocks rose for a third consecutive session to
a one-week high. Financial and telecom stocks helped the
benchmark index gain with Airports of Thailand climbing
over 1 percent. 
    
For Asian Companies click;  

SOUTHEAST ASIAN STOCK MARKETS
 Market             Current   Previous close  Pct Move
 Singapore          3244.89   3235.9          0.28
 Bangkok            1629.2    1626.62         0.16
 Manila             7348.42   7267.34         1.12
 Jakarta            5733.639  5633.937        1.77
 Kuala Lumpur       1688.45   1680.37         0.48
 Ho Chi Minh        914.99    906.01          0.99
                                              
 Change on year                               
 Market             Current   End 2017        Pct Move
 Singapore          3244.89   3402.92         -4.64
 Bangkok            1629.2    1753.71         -7.10
 Manila             7348.42   8558.42         -14.14
 Jakarta            5733.639  6355.654        -9.79
 Kuala Lumpur       1688.45   1796.81         -6.03
 Ho Chi Minh        914.99    984.24          -7.04
 
    
 (Reporting by Sumeet Gaikwad in Bengaluru; Additional reporting
by Aditya Soni and Gaurav Dogra; Editing by Subhranshu Sahu)
  
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