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SE Asia Stocks-Indonesia hits one-month closing high; N.Korea jitters weigh
September 22, 2017 / 10:48 AM / 25 days ago

SE Asia Stocks-Indonesia hits one-month closing high; N.Korea jitters weigh

    By Binisha Ben
    Sept 22 (Reuters) - Indonesian shares closed at a near
one-month high on Friday with investors awaiting the central
bank's policy rate decision later in the day, while renewed
tensions over Korean peninsula weighed on other markets in the
region.
    Indonesia shares ended 0.09 percent up, after
hitting an all-time high earlier in the session, and added 0.7
percent on the week.
    A Reuters poll showed that Indonesia's central bank is
expected to keep its benchmark interest rate unchanged on
Friday.
    "Seems like the market movement points to the fact that they
are going to cut the rate," said Taye Shim, head of research,
Mirae Asset Sekuritas.
    Bank Indonesia surprised the market with a rate cut last
month, as officials cited weaker-than-expected second-quarter
economic growth, a low inflation rate, a stable rupiah
and its forecast of fewer rate hikes in the United States as
reasons behind the cut, its first since October. 
    Data showed that August headline consumer prices had slowed,
rising 3.82 percent from a year ago compared with July's 3.88
percent. 
    "It's pretty much a condition where the local macro backdrop
remains very favourable for monetary easing," Shim added. 
    Other markets in the region were edgy after North Korean
Foreign Minister Ri Yong Ho said he believes the country could
consider a nuclear test on an "unprecedented scale" in the
Pacific Ocean. 
    Thai shares ended down, with energy and industrial
stocks being the biggest drags on the index. Oil and gas refiner
PTT Pcl and Airports of Thailand Pcl led the
losses, closing down 1.9 percent and 2.1 percent, respectively. 
    The index ended the week 0.1 percent lower. 
    The Philippine stock index closed flat, adding 1.2
percent for the week.
    Malaysia's stock market was closed for a local
holiday.

    For Asian Companies click;  

SOUTHEAST ASIAN STOCK MARKETS  Change on day
    
  Market           Current       Previous     Pct Move
                                 Close        
  Singapore        3220.25       3213.82      0.20
  Bangkok          1659.05       1670.49      -0.68
  Manila           8281.27       8286.86      -0.07
  Jakarta          5911.708      5906.573     0.09
  Ho Chi Minh      807.13        803.93       0.40
                                              
  Change on year                              
  Market           Current       End 2016     Pct Move
  Singapore        3220.25       2880.76      11.78
  Bangkok          1659.05       1542.94      7.53
  Manila           8281.27       6840.64      21.06
  Jakarta          5911.708      5296.711     11.61
  Ho Chi Minh      807.13        664.87       21.40
 
 (Reporting by Binisha Ben in Bengaluru; Editing by Sherry
Jacob-Phillips)
  

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