By Anusha Ravindrantah
May 17 The Indonesian benchmark index
closed at a near four-week low on Wednesday, dragged down by
consumer cyclicals and financials, while Vietnam ended at
its highest level in over a month as blue chips including
The index of Indonesia's 45 most liquid stocks
lost 0.8 percent. Top loser Bumi Serpong Damai Tbk PT
dropped 5.8 percent, while financial heavyweight Bank Central
Asia Tbk PT fell 2.6 percent.
"It is now unlikely that the S&P would upgrade Indonesia to
investment grade because of the political uncertainties," said
Harry Su, head of research at Jakarta-based Bahana Securities.
Indonesian officials have long been hoping for a ratings
upgrade from Standard & Poor's, which has kept Indonesian debts
at junk status.
Political unrest has ensued in Indonesia, after its outgoing
Christian governor Basuki Tjahaja Purnama was jailed last week
on the grounds of insulting the Koran in the Muslim-majority
Vietnam shares ended higher as Vinamilk rallied after
receiving approval to officially export its milk products to
China, the company told Xinhua on Wednesday. (bit.ly/2qrdppx).
Shares of the dairy company closed 2.4 percent higher.
Singapore closed at its lowest level in two weeks
after data showed the city-state's non-oil domestic exports
unexpectedly dropped in April.
Malaysian shares closed at a near one-week low, with
utility stocks and financials weighing on the index. Malaysian
consumer prices rose 4.4 percent in April due to rising
transport and food costs, government data showed.
Philippine shares ended 0.5 percent higher with
industrials and financials supporting the benchmark while
traders awaited the country's quarterly GDP data.
Philippines saw more foreign buying in April after two
months of outflows, data showed. (reut.rs/2rhT2cB)
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SOUTHEAST ASIAN STOCK MARKETS
Change on day
Market Current Previous Pct Move
Singapore 3224.1 3227.71 -0.11
Bangkok 1548.29 1546.35 0.13
Manila 7826.53 7791.07 0.46
Jakarta 5615.492 5646.999 -0.56
Kuala Lumpur 1775.65 1778.15 -0.14
Ho Chi Minh 727.2 725.03 0.30
Change so far
Market Current End 2016 Pct Move
Singapore 3224.1 2880.76 11.92
Bangkok 1548.29 1542.94 0.35
Manila 7826.53 6840.64 14.41
Jakarta 5615.492 5296.711 6.02
Kuala Lumpur 1775.65 1641.73 8.16
Ho Chi Minh 727.2 664.87 9.37
(Reporting by Anusha Ravindranath in Bengaluru; Editing by Vyas