June 20, 2018 / 4:42 AM / 5 months ago

SE Asia Stocks-Indonesia slumps 2.5 pct as trade resumes

    * Philippine, Thai cenbank policy meetings awaited
    * Malaysian shares higher after 7 sessions of falls

    By Nicole Pinto
    June 20 (Reuters) - Indonesian shares slumped 2.5
percent on Wednesday, their sharpest intraday fall in nearly two
months, after trade resumed following a long holiday for Eid
Al-Fitr celebrations.
    Global equity markets saw a selloff during the Eid holiday
and Indonesia is expected to play catch-up, driven by stocks
with high foreign ownership such as Bank Central Asia and Bank
Mandiri, according to a Trimegah Securities note. Indonesian
financial markets were closed from June 11 to 19. 
    Financials were the biggest losers with Bank Central Asia
 declining 3.8 percent and Bank Mandiri (Persero) 
 shedding 6.5 percent. 
    An index of the country's 45 most liquid stocks
slid 3.6 percent to its lowest in nearly one month.
    Among other Southeast Asian stock markets, the Philippines
 was down for a fifth straight session while Thailand
 rose after five consecutive sessions of declines ahead
of central bank policy meetings.
    The Bank of Thailand is expected is expected to leave its
policy interest rate near a record low, while a slim majority of
economist expect the Bangko Sentral ng Pilipinas to raise rates,
according to Reuters polls.
    Energy and financial stocks were among the biggest boost in
Thailand with PTT PCL climbing 0.5 percent and Bangkok
Dusit Medical Services PCL rising 3.3 percent.
    Malaysian shares were higher after seven straight
sessions of falls with Axiata Group Bhd gaining 1
percent and Genting Bhd adding 1.8 percent.
    The consumer price index rose 1.8 percent last
month from a year earlier, meeting market expectations, on
stronger fuel and transport prices and rising demand for food,
government data showed.
    
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SOUTHEAST ASIAN STOCK MARKETS: Change as at 0346 GMT
 Change on the day                            
 Market             Current   Previous Close  Pct Move
 Singapore          3309.12   3301.35         0.24
 Bangkok            1647.22   1639.54         0.47
 Manila             7292.96   7312.61         -0.27
 Jakarta            5847.824  5993.627        -2.43
 Kuala Lumpur       1718.97   1715.36         0.21
 Ho Chi Minh        961.67    962.16          -0.05
                                              
 Change on year                               
 Market             Current   End 2017        Pct Move
 Singapore          3309.12   3402.92         -2.76
 Bangkok            1647.22   1753.71         -6.07
 Manila             7292.96   8558.42         -14.79
 Jakarta            5847.824  6355.654        -7.99
 Kuala Lumpur       1718.97   1796.81         -4.33
 Ho Chi Minh        961.67    984.24          -2.29
 
 (Editing by Subhranshu Sahu)
  
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