October 24, 2017 / 4:59 AM / 5 months ago

SE Asia Stocks-Indonesia hits record high on coal miners

    By Nicole Pinto
    Oct 24 (Reuters) - Indonesian shares hit a record high on
Tuesday, buoyed by gains in coal mining stocks, while most other
Southeast Asian markets were subdued following weak cues from
Wall Street.
    U.S. stocks declined on Monday, weighed down by a drop in
technology and industrial shares.
    "I think it's a spillover from Wall Street... the market is
now in the midst of an earnings season, and is a bit more
cautious," said Joel Ng, an analyst with Singapore-based KGI
    "There is a lack of catalyst for markets to head up higher."
    Indonesia's Jakarta Composite Index rose as much as
0.3 percent to a record high of 5,969.021, extending gains into
a third session. 
    It had risen about 12 percent this year as of Monday's
close, and has added 1 percent so far this month, in could be
its ninth straight monthly gain.
    Bayan Resources Tbk PT jumped as much as 20
percent to a five-year high on Tuesday, while Adaro Energy Tbk
PT climbed about 2.5 percent.
    The International Energy Agency said on Tuesday that oil,
together with coal, will lead growth in Southeast Asia's power
and transport sectors as the region's energy demand is expected
to climb nearly 60 percent by 2040 from now.
    A sub-index of the 45 most liquid stocks in
Indonesia was 0.08 percent higher.
    Among the losers, Singapore shares fell the most,
dragged by industrials and financials. 
    Keppel Corp Ltd shed as much as 1.1 percent, while
Oversea-Chinese Banking Corp Ltd fell 0.4 percent. 
    Philippine shares fell for a third consecutive
session, with Ayala Corp declining 2.8 percent and BDO
Unibank Inc shedding 2.1 percent. 
    Vietnam shares dropped as much as 0.6 percent before
reversing their course.
    "We expect Vietnam's CPI inflation to surprise on the
downside for October, forecasting an easing to 2.9 pct
year-on-year from 3.4 percent in September," Mizuho Bank said in
a note.

For Asian Companies click;  

  Market           Current       Previous     Pct Move
  Singapore        3336.42       3349.8       -0.40
  Bangkok          1700.52       1692.58      0.47
  Manila           8338.69       8348.32      -0.12
  Jakarta          5960.176      5950.026     0.17
  Kuala Lumpur     1740.28       1741.47      -0.07
  Ho Chi Minh      822.87        820.04       0.35
  Change on year                              
  Market           Current       End prev yr  Pct Move
  Singapore        3336.42       2880.76      15.82
  Bangkok          1700.52       1542.94      10.21
  Manila           8338.69       6840.64      21.90
  Jakarta          5960.176      5296.711     12.53
  Kuala Lumpur     1740.28       1641.73      6.00
  Ho Chi Minh      822.87        664.87       23.76
 (Reporting by Nicole Pinto; Editing by Subhranshu Sahu)
0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below