October 12, 2018 / 9:59 AM / in a month

SE Asia Stocks-Bounce back; Vietnam jumps over 2 percent

    * Philippines posts 6th weekly loss
    * Singapore down nearly 4 pct on week

    By Niyati Shetty
    Oct 12 (Reuters) - Southeast Asian stock markets rebounded
on Friday after a heavy sell-off in the previous session as a
weaker-than-expected rise in U.S. September inflation eased
fears of faster rate hikes by the Federal Reserve. 
    The U.S. consumer prices index rose 0.1 percent last month
after climbing 0.2 percent in August, held back by a slower
increase in the cost of rent and falling energy prices, as
underlying inflation pressures appeared to cool slightly.

    Vietnam shares jumped 2.6 percent after losing over 5
percent in the previous session. The index is down 3.8 percent
this week.  
    Petrovietnam Gas and Vingroup gained 6.5
percent and 3.2 percent, respectively. 
    Philippine shares closed 1.8 percent higher, boosted
by consumer and real estate stocks. The benchmark index is down
one percent this week, its sixth straight weekly fall. 
    Universal Robina jumped 7 percent and SM
Investments gained 2.5 percent.
    "Lower inflation could lead to lower interest expectations,
which is good in general for equities,"  said Charles William
Ang, an analyst at COL Financial Group Inc. 
    "After the sell-off in the last few days, it is quite common
to see bargain-hunting."
    Indonesian shares rose 0.9 percent, adding 0.4
percent for the week, led by financials and telecom sectors.
Bank Central Asia gained 2.3 percent and
Telekomunikasi Indonesia advanced 3.1 percent. 
    "This (recovery) is primarily driven by U.S. inflation data
as investors were dying to see some kind of relief," said Taye
Shim, head of research at Mirae Asset Sekuritas.
    "However, it is a very fragile recovery and investors should
not be overly excited ... the market will remain volatile until
the end of the year."
    Global stock markets witnessed a heavy sell-off on Thursday
due to a clutch of factors including worries over the impact of
Sino-U.S. trade war, a spike in U.S. bond yields as well as
caution ahead of earnings seasons.
    Singapore's FTSE Straits Times Index rose 0.7
percent, ending a six-session losing streak. The index is down
4.4 percent for the week. 
    Malaysian index fell 2.6 percent this week while
Thai shares shed 1.4 percent in the same period. 
    
        
For Asian Companies click;  

SOUTHEAST ASIAN STOCK MARKETS  
  Market             Current      Previous close    Pct Move
  Singapore          3069.17      3047.39           0.71
  Bangkok            1696.16      1682.89           0.79
  Manila             7004.77      6884.38           1.75
  Jakarta            5756.49      5702.822          0.94
  Kuala Lumpur       1730.74      1708.49           1.30
  Ho Chi Minh        970.08       945.89            2.56
                                                    
  Change on year                                    
  Market             Current      End 2017          Pct Move
  Singapore          3069.17      3402.92           -9.81
  Bangkok            1696.16      1753.71           -3.28
  Manila             7004.77      8558.42           -18.15
  Jakarta            5756.49      6355.654          -9.43
  Kuala Lumpur       1730.74      1796.81           -3.68
  Ho Chi Minh        970.08       984.24            -1.44
 
 (Reporting by Niyati Shetty in Bengaluru; Editing by Vyas
Mohan)
  
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