July 23, 2018 / 10:59 AM / 3 months ago

SE Asia Stocks-Most end higher; Indonesia gains for second session

    * Thailand rises for fourth straight session
    * Indonesia up for seventh session in eight 

    By Syed Saif Hussain Naqvi
    July 23 (Reuters) - Most Southeast Asian markets erased
early losses on Monday while Indonesia extended gains
for a second straight session, driven by consumer staples and
telecommunication stocks.
    Indonesian shares, up 0.7 percent, were the biggest gainers
in the region. The country's central bank last week kept its
benchmark interest rate unchanged, taking a pause in its
monetary tightening cycle.
    Telekomunikasi Indonesia (Persero) Tbk Perusahaan Perseroan
PT and Charoen Pokphand Indonesia Tbk PT, up
2 percent and 7.8 percent respectively, were the top gainers.
    Most other markets in the region started the week on the
back foot after U.S. President Donald Trump on Friday said he
was ready to impose tariffs on all $500 billion of imported
goods from China, but recoved in late trade. 
    Thai shares reversed early losses and ended 0.28
percent higher, buoyed by gains in material and energy stocks.
    PTT Global Chemical PCL, up 2.8 percent, extended
gains into a fourth straight session and was among the top
performers on the benchmark.    
    Philippine shares were down 0.3 percent, with losses
in real estate stocks offsetting gains in financials. Property
developer SM Prime Holdings Inc, down 1.35 percent,
was the biggest drag on the index.
    Signalling a third interest rate rise this year, the
Philippine central bank governor said on Friday that the apex
bank was considering "strong monetary action" at its meeting
next month to curb inflation and foreign exchange volatility

    Singapore shares fell by 0.12 percent, with
financials leading the losses.
    Singapore's core inflation gauge in June rose slightly more
than expected at 1.7 percent from a year earlier, compared with
the median forecast of 1.5 percent. 
     


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SOUTHEAST ASIAN STOCK MARKETS
  STOCK MARKETS                                    
  Change on the                                    
 day                                       
  Market          Current      Previous    Pct Move
                               close       
  Singapore       3293.71      3297.83     -0.12
  Bangkok         1675.75      1671.06     0.28
  Manila          7376.8       7399.61     -0.31
  Jakarta         5915.796     5872.784    0.73
  Kuala Lumpur    1757.96      1754.67     0.19
 Ho Chi Minh      936.74       933.39      0.36
                                           
  Change on year                           
  Market          Current      End 2017    Pct Move
  Singapore       3293.71      3402.92     -3.21
  Bangkok         1675.75      1753.71     -4.45
  Manila          7376.8       8,558.42    -13.81
  Jakarta         5915.796     6355.654    -6.92
  Kuala Lumpur    1757.96      1796.81     -2.16
  Ho Chi Minh     936.74       984.24      -4.82
 


 (Reporting by Syed Saif Hussain Naqvi in Bengaluru; Editing by
Vyas Mohan)
  
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