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SE Asia Stocks-Largely flat; Singapore edges up, led by financials
April 28, 2017 / 5:35 AM / 8 months ago

SE Asia Stocks-Largely flat; Singapore edges up, led by financials

    By Susan Mathew
    April 28 (Reuters) - Singapore shares rose slightly
on Friday, gaining for a sixth session in seven, while
Indonesian stocks extended their decline into a second
day after hitting an all-time high earlier this week.
    Other Southeast Asian stock markets were largely flat, while
broader Asia was marginally lower as investors took profits
after a strong week.
    Meanwhile, U.S. President Donald Trump told Reuters he will
either renegotiate or terminate what he calls a "horrible" free
trade deal with South Korea and that Seoul should pay for a U.S.
anti-missile system that he priced at $1 billion.
    In Singapore, financial stocks led the gains with DBS Group
 climbing as much as 1.2 percent and United Overseas
Bank rising 1.7 percent.
    The FTSE Straits Times index has gained 1 percent so far
this week, heading for its biggest weekly gain in 10.
    Investors shrugged off data showing that the city-state's
preliminary unemployment rate for the first quarter rose to its
highest since 2009 at 2.3 percent.
    In Indonesia, consumer and energy stocks led the decline.
Conglomerate Astra International dropped 0.6 percent,
while Adaro Energy declined 2.7 percent.
    Malaysian shares rose marginally in thin trade and
were on track for a second straight weekly gain.
    "In the morning, there was some movement on Tenaga Nasional
that pushed up the market," said an analyst with BIMB
Securities.
    Shares of Tenaga Nasional were up 0.9 percent
after the electricity utility reported positive first-quarter
results on Thursday.
    The Malaysian market might see some profit taking, but net
foreign buying may keep the market buoyed, the analyst said,
adding the recovering ringgit also helped. 
    Thai shares edged down with Siam Cement Pcl
declining 1 percent and Airports of Thailand Pcl
shedding 1.2 percent. 
    Thailand's industrial output declined for a second straight
month in March, less than expected, due to weaker production of
autos and jewellery, suggesting that economic recovery remains
fragile.
    The Philippine market was closed for a special holiday.
    
For Asian Companies click;  
SOUTHEAST ASIAN STOCK MARKETS: CHANGE AT 0528 GMT
    
  Market            Current       Previous Close  Pct Move
  Singapore         3178.69       3171.36         0.23
  Bangkok           1565.68       1566.77         -0.07
  Jakarta           5695.675      5707.028        -0.20
  Kuala Lumpur      1769.54       1767.92         0.09
  Ho Chi Minh       717.6         716.53          0.15
                                                  
  Change on year                                  
  Market            Current       End 2016        Pct Move
  Singapore         3178.69       2880.76         10.34
  Bangkok           1565.68       1542.94         1.47
  Jakarta           5695.675      5296.711        7.53
  Kuala Lumpur      1769.54       1641.73         7.79
  Ho Chi Minh       717.6         664.87          7.9
 

 (Reporting by Susan Mathew in Bengaluru; Editing by Subhranshu
Sahu)
  

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