June 22, 2017 / 10:53 AM / 2 months ago

SE Asia Stocks-Singapore, Thailand lead gains; oil price slide weighs

    By Nicole Pinto
    June 22 (Reuters) - Most Southeast Asian stock markets rose on Thursday, led
by gains in Singapore and Thailand, but a slide in oil prices to multi-month
lows kept investors on edge.
    Singapore shares rose 0.4 percent, with financials contributing most
of the gains, while Thai shares advanced 0.3 percent after data showed
customs-cleared exports in May rose at its fastest pace in 52 months, handily
beating expectations. 
    An official at the Thai commerce ministry expressed confidence in achieving
its 2017 export growth target of 5 percent, after exports climbed 13.2 percent
in May from a year earlier after April's 8.5 percent increase.
    However, caution prevailed in Southeast Asia amid weak oil prices as traders
assessed a glut of physical supply that has persisted despite OPEC-led efforts
to balance the market.
    Philippine shares closed 0.4 lower percent after falling as much as 
0.7 percent earlier in the day. 
    The Philippine central bank said after market close that it would leave its
key overnight borrowing rate steady at 3.0 percent, as expected.
    However, the central bank cut its inflation forecast for this year to an
average of 3.1 percent in 2017 from 3.4 percent.
    The real estate and industrial sectors accounted for most of the losses,
with Ayala Land and SM Investment losing 1.2 percent and 0.8
percent, respectively.     
    Malaysian shares closed 0.1 percent higher after falling for three
straight sessions. 
    Genting Bhd gained 1.9 percent and IHH Healthcare Bhd
gained 1.5 percent. 
    Indonesian shares gained 0.2 percent. The country's financial markets will
be shut on Friday and throughout next week on account of public holidays.

    
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SOUTHEAST ASIAN STOCK MARKETS:
  Change on the                                      
 day                                         
  Market          Current       Previous     Pct Move
                                Close        
  Singapore       3215.55       3201.77      0.43
  Bangkok         1580.91       1577.01      0.25
  Manila          7858.34       7886.37      -0.36
  Jakarta         5829.708      5818.552     0.19
  Kuala Lumpur    1777.43       1775.57      0.10
 Ho Chi Minh      766.3         767.41       -0.14
                                             
  Change so far                              
 this year                                   
  Market          Current       End 2016     Pct Move
  Singapore       3215.55       2880.76      11.62
  Bangkok         1580.91       1542.94      2.46
  Manila          7858.34       6840.64      14.9 
  Jakarta         5829.708      5296.711     10.06
  Kuala Lumpur    1777.43       1641.73      8.27
 Ho Chi Minh      766.3         664.87       15.3
 
 (Reporting by Nicole Pinto; Editing by Amrutha Gayathri)
  

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