October 15, 2018 / 5:20 AM / a month ago

SE Asia Stocks-Indonesia edges higher in see-saw trade

    * Indonesia's September trade surplus boosts sentiment
    * Singapore declines for seventh session in eight

    By Chandini Monnappa
    Oct 15 (Reuters) - Indonesian shares traded slightly higher
in see-saw trade on Monday on positive September trade data,
while Singapore stocks slipped for a seventh session in eight.
    The key Jakarta stock index rose 1 percent before
shedding 0.4 percent on data showing exports advanced 1.7
percent on year, way below expectations of a 7.58 percent jump
in a Reuters poll.
    The index recovered to trade marginally higher after data
showed imports climbed 14.18 percent, compared with an
expectation of a 24.76 percent rise, and a trade surplus of
$0.23 billion, compared with a $0.5 billion deficit prediction.
    An index of the country's 45 most liquid stocks
was up 0.7 percent after rising 1.5 percent earlier. 
    PT Indah Kiat Pulp & Paper Tbk slumped 13 percent
to a 24-week low, making it the biggest loser on the index,
while PT Bank Central Asia Tbk rose 2.5 percent.
    The key concern is still about the U.S. economic growth,
said Joel Ng, an analyst with KGI Securities, adding that, "U.S.
indices were very volatile last week."
    "This is causing a lot of caution... and with China's GDP
data expected to come out later this week, people are just
waiting on the side lines."
    China central bank governor Yi Gang said on Sunday the
country's economic growth would comfortably reach its full-year
target of around 6.5 percent with the possibility of
overshooting. The GDP data is expected on Oct. 19.
    Meanwhile, at the plenary session of the International
Monetary Fund and World Bank meetings, Indonesian President Joko
Widodo urged global central bankers and finance ministers on
Friday to remain committed to cooperation to contain growing
risks facing the world's economy.
    Malaysian shares were marginally higher after rising
as much as 0.5 percent earlier. Investment holding giant
Malaysia Airports Holdings Berhad gained 1.3 percent,
while energy heavyweight Petronas Dagangan Berhad rose
0.9 percent.
    Philippine shares rose as much as 0.84 percent before
paring gains to trade marginally higher. Financial and real
estate stocks were among top gainers. BDO Unibank Inc
gained 2.6 percent, while real estate conglomerate Ayala Land
Inc rose about 1.8 pct.
    Singapore shares declined 0.7 percent, dragged mostly
by financials and industrials. 
    "Over the weekend at the IMF meeting, there were concerns
about global growth. Singapore is more impacted by the ongoing
trade war between the United States and China," KGI's Ng said.
    Finance chiefs of countries warned about global economic
pressure, so "I think there's caution over Singapore's stocks as
well," he said.
    Blaming the Sino-U.S. trade dispute and tighter financial
conditions in emerging markets, the IMF cut global growth
forecasts for 2018 and 2019.
    Technology services provider Venture Corp Ltd lost
2.3 percent, while Overseas Chinese Banking Corp
slipped 1.4 pct.
    Thailand markets were closed on Monday for a local
holiday.
       
For Asian Companies click;  

SOUTHEAST ASIAN STOCK MARKETS AS AT 0515 GMT 
  Market           Current       Previous close  Pct Move
  Singapore        3055.39       3069.17         -0.45
  Manila           7022.93       7004.77         0.26
  Jakarta          5767.438      5756.49         0.19
  Kuala Lumpur     1732.11       1730.74         0.08
  Ho Chi Minh      959.1         970.08          -1.13
                                                 
  Change on year                                 
  Market           Current       End 2017        Pct Move
  Singapore        3055.39       3402.92         -10.21
  Manila           7022.93       8558.42         -17.94
  Jakarta          5767.438      6355.654        -9.26
  Kuala Lumpur     1732.11       1796.81         -3.60
  Ho Chi Minh      959.1         984.24          -2.55
 

 (Reporting by Chandini Monnappa, additional reporting by Rashmi
Ashok; Editing by Subhranshu Sahu)
  
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