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SE Asia Stocks-Indonesia hits record closing high on coal demand outlook
October 24, 2017 / 10:34 AM / a month ago

SE Asia Stocks-Indonesia hits record closing high on coal demand outlook

    By Nicole Pinto
    Oct 24 (Reuters) - Indonesian shares hit a record
closing high on Tuesday, as coal miners gained after the
International Energy Agency forecast strong prospects for energy
demand in Southeast Asia, while most other markets in the region
fell on profit-taking. 
    The IEA said overall energy demand is expected to climb
nearly 60 percent by 2040 from now, led by power generation, and
that Southeast Asia is expected to install more than 565
gigawatts (GW) of power-generation capacity in that period.

    Coal and renewables would account for almost 70 percent of
new output, it said. 
    Indonesian shares edged up at the close after also hitting a
record intraday high, with Bayan Resources Tbk PT
jumping 20 percent, Bumi Resources up about 2.5
percent and Adaro Energy Tbk PT climbing about 2.2
percent.
    Thai shares ended 0.6 percent higher, helped by
gains in energy stocks, with PTT PCL closing up 0.5
percent and Thai Oil Pcl rising 3.8 percent. 
    In other markets, Malaysia closed at its lowest in
more than six months, while the Philippine index was the
biggest loser in the region. Singapore edged down 0.5
percent. 
    "Most of the markets are trading at their historical highs
and we should be seeing bouts of profit-taking due to the sharp
rallies over the past few months," said Manny Cruz, an analyst
at the Manila-based Asiasec Equities Inc.
     Philippine stocks were dragged down by financial and
industrial shares, with BDO Unibank Inc down 3.5
percent and SM Investments Corp shedding 1.1 percent. 
    Singapore ended with broad-based losses, with United
Overseas Bank Ltd and Oversea-Chinese Banking
Corporation Ltd ending 0.5 percent and 0.4 percent
lower, respectively. 
    Malaysia fell 0.3 percent, with CIMB Group Holdings Bhd
 down 1.1 percent to close at a five-month low, while
Genting Malaysia Bhd hit an eight-month low. 
    The index has slipped for five out of the last six
sessions.
    
For Asian Companies click;  

SOUTHEAST ASIAN STOCK MARKETS:  Change on the day
  Market           Current       Previous      Pct Move
                                 close         
  Singapore        3334.67       3349.8        -0.45
  Bangkok          1701.81       1692.58       0.55
  Manila           8279.92       8348.32       -0.82
  Jakarta          5952.076      5950.026      0.03
  Kuala Lumpur     1736.14       1741.47       -0.31
  Ho Chi Minh      825.24        820.04        0.63
                                               
  Change on year                               
  Market           Current       End prev yr   Pct Move
  Singapore        3334.67       2880.76       15.76
  Bangkok          1701.81       1542.94       10.30
  Manila           8279.92       6840.64       21.04
  Jakarta          5952.076      5296.711      12.37
  Kuala Lumpur     1736.14       1641.73       5.75
  Ho Chi Minh      825.24        664.87        24.12
 


 (Reporting by Nicole Pinto; Editing by Biju Dwarakanath)
  

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