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SE Asia Stocks-Mixed; Malaysia at 1-week low ahead of rate decision
March 9, 2016 / 5:07 AM / 2 years ago

SE Asia Stocks-Mixed; Malaysia at 1-week low ahead of rate decision

BANGKOK, March 9 (Reuters) - Southeast Asian stock markets
were trading mixed on Wednesday as weak trade data from China
dented market sentiment across Asia, with Malaysia drifting
lower ahead of a decision by the central bank on interest rates.
    Sharp losses in Chinese stocks pulled Asian equities further
away from two-month highs as weak trade figures from the world's
second biggest economy and a retreat in oil prices revived
concerns about global growth. 
    The Kuala Lumpur composite index traded down 0.5
percent at 1,680.27, extending losses from Tuesday.
Rate-sensitive banking stocks were among losers, led by a 1.3
percent drop in Malayan Banking.
    All 11 economists in a Reuters poll expect Bank Negara
Malaysia to keep the overnight policy rate at 3.25
percent as markets also wait to see who will succeed its
respected, long-serving governor. 
    In Bangkok, the key SET index was 0.2 percent
higher, after earlier slipping to a one-week low of 1,372.46.
    Index heavyweight energy stocks led by PTT and PTT
Exploration and Production fell, in line with a drop
in global oil prices. 
    "The SET index may continue to take a breather on Wednesday,
as foreign flows look slower and a few large-cap sectors have
weaker sentiment," said broker KGI Securities in a report.
    Stocks in Singapore rebounded slightly after two days
of weakness and the Philippines eked out gains for a
second day. Vietnam hovered in negative territory,
extending losses from Tuesday.
    Indonesia, Southeast Asia's best performer so far
this year in dollar terms, was closed for a public holiday and
will reopen on Thursday. 
    Nomura said in a report that Indonesia remained its most
favoured market in ASEAN, expected to show the biggest
'turnaround' in earnings in 2016 versus 2015.
For Asian Companies click;  

 Change at 0442 GMT
 Market             Current     Prev Close    Pct Move
 Singapore          2789.57       2778.77       +0.39
 Kuala Lumpur       1680.27       1687.86       -0.45
 Bangkok            1377.56       1374.62       +0.21
 Manila             6936.26       6915.51       +0.30
 Ho Chi Minh         573.84        574.71       -0.15
 (Reporting by Viparat Jantraprap; Editing by Biju Dwarakanath)

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