* Singapore down for sixth session in seven
* Malaysia rebounds from prvs session's loss
By Soumyajit Saha
Aug 8 (Reuters) - Indonesian shares rose over 1% on
Thursday, extending gains into the second session after dovish
comments from a top central bank official boosted investor
sentiment, while Singapore stocks closed lower for a sixth
session in seven on industrials.
Bank Indonesia's new senior deputy governor, Destry
Damayanti, said on Wednesday she expected "the direction of
monetary policy easing to last long into the future".
The central bank cut its benchmark rate by 25 basis points
last month, which many analysts saw as the start to an easing
cycle. Elsewhere, China's exports unexpectedly returned to growth
in July that left the country with a trade surplus of $45.06
billion, compared to analysts' forecast for a $40 billion
surplus. The banking sector helped Indonesian stocks .JKSE rise the
most in the region, with Bank Rakyat Indonesia
(Persero) BBRI.JK gaining 1% while Bank Mandiri (Persero)
BMRI.JK added 2%.
Industrials like Jardine Matheson Holdings JARD.SI and
Jardine Strategic Holdings JSH.SI dragged on Singapore shares
.STI . Jardine Matheson and Jardine Strategic fell 3.8% and
1.3%, respectively.
A 20% drop in Yangzijiang Shipbuilding Holdings YAZG.SI
caused considerable drag on the industrial sector, said Joel Ng,
an analyst with KGI Securities. Malaysian shares .KLSE rebounded from the previous
session's losses, helped by financial and consumer stocks. RHB
Bank RHBC.KL gained 2%, while palm oil producer Sime Darby
Plantations SIPL.KL rose 4.7%.
Thai shares .SETI edged lower, hurt by losses in the
energy sector as oil prices fell earlier in the day.
PTT PCL PTT.BK and PTT Exploration and Production
PTTEP.BK fell 1.7% and 2%, respectively.
Philippine shares .PSI were flat, as gains in telecom
stocks offset losses in financials.
The central bank cut its benchmark rate by 25 basis points,
as expected, after the economy expanded slower than expected in
the second quarter. Asian Companies click;
SOUTHEAST ASIAN STOCK MARKETS
STOCK MARKETS
Change on the day
Market Current Previous close Pct Move
Singapore 3168.94 3184.69 -0.49
Bangkok 1665.12 1669.44 -0.26
Manila 7914.16 7917.39 -0.04
Jakarta 6274.671 6204.195 1.14
Kuala Lumpur 1616.02 1604.7 0.71
Ho Chi Minh 975.24 965.93 0.96
Change so far in 2019
Market Current End 2018 Pct Move
Singapore 3168.94 3068.76 3.26
Bangkok 1665.12 1563.88 6.47
Manila 7914.16 7,466.02 6.00
Jakarta 6274.671 6,194.50 1.29
Kuala Lumpur 1616.02 1690.58 -4.41
Ho Chi Minh 975.24 892.54 9.27