July 6, 2017 / 11:22 AM / a month ago

SE Asia Stocks-Most gain as crude rebounds; ECB minutes awaited

    By Chandini Monnappa
    July 6 (Reuters) - Most Southeast Asian markets ended higher
on Thursday as a recovery in crude oil prices after a deep cut
overnight helped revive sentiment ahead of the European Central
Bank minutes.
    Brent oil was up 1.5 percent at $48.5 a barrel,
recovering one percent of the four percent it lost in the
previous session, while broader Asian markets were down after
the U.S. Federal Reserve gave mixed signals on Wednesday.
    The minutes of the Fed's June policy meeting showed that
several officials were divided on their outlook for inflation.

    "The key parts of the markets are still reluctant to move
forward as the minutes of the Fed meet show that even the
committee itself is still mixed about the proper measures to
reduce the balance sheet of the U.S. Federal Reserve," said
Rakpong Chaisuparakul, a strategist with KGI Securities
Thailand.
    Asian shares have been shaky this week due to tensions in
the Korean peninsula after North Korea launched an
intercontinental ballistic missile into Japanese waters, causing
the United States to warn that it was ready to use force if need
be to stop the missile program.
    In southeast Asia, Thai shares closed 0.3 percent
down at their lowest in over three weeks as energy stocks slid.
    "Thai energy stocks fell because oil prices fell overnight.
This is why Thai market is slightly weaker compared with Asia
today," added Chaisuparakul.
    Singapore ended the session 0.7 percent lower, with
financial stocks accounting for more than half the losses.
DBS Group Holdings Ltd and Oversea-Chinese Banking
Corporation Limited were the top losers on the index.
    Philippine shares closed 0.5 percent higher, aided by
financial stocks.
    Metro Pacific Investments Corp closed up 6.7
percent at its highest in nearly two months.
    Indonesian shares edged up 0.4 percent on the back
of gains in telecommunication stocks such as Telekomunikasi
Indonesia (Persero) TBK PT which climbed 1.5
percent.
    For Asian Companies click;
    
  Change on the                                    
 day                                       
  Market          Current      Previous    Pct Move
                               Close       
  Singapore       3226.34      3248.71     -0.69
  Bangkok         1569.64      1575.02     -0.34
  Manila          7888.31      7848.84     0.50
  Jakarta         5849.575     5825.054    0.42
  Kuala Lumpur    1770.53      1768.16     0.13
  Ho Chi Minh     782.65       778.32      0.56
                                           
  Change on year                           
  Market          Current      End 2016    Pct Move
  Singapore       3226.34      2880.76     12.00
  Bangkok         1569.64      1542.94     1.73
  Manila          7888.31      6840.64     15.32
  Jakarta         5849.575     5296.711    10.44
  Kuala Lumpur    1770.53      1641.73     7.85
  Ho Chi Minh     782.65       664.87      17.71
 
    

    


    
 (Reporting by Chandini Monnappa; Editing by Vyas Mohan)
  

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