* Financials, telco stocks boost Indonesian shares
* Philippine shares end flat ahead of cenbank decision
* Singapore industrial output drops, misses forecast
Sept 26 (Reuters) - Indonesian shares jumped 1.4% on
Thursday to log their best session in a over month as easing
local political unrest aided sentiment, while heavyweight
telecom stocks rose.
Students in cities across Indonesia began protesting this
week against a set of bills that penalised adultery and revised
laws on corruption, among others. The Jakarta index .JKSE has underperformed since last
Friday, on a slew of issues that include concerns over a
slowdown in growth and the political upheaval, losing more than
2% by Tuesday.
But the index picked up the pace on Thursday, helped by
financial and telco stocks as "calmer streets in the capital
following two days of protests against controversial revised
bills by the parliament gave investors renewed confidence to the
market", said Anugerah Zamzami Nasr, equity research analyst,
Phillip Sekuritas Indonesia.
Meanwhile, analysts at Danareksa Securities expect telecom
service providers Telekomunikasi Indonesia Tbk PT TLKM.JK and
XL Axiata Tbk PT EXCL.JK to remain resilient in tough market
conditions and post solid average revenue per user (ARPU)
growth.
Shares of Telekom Indonesia rose 3.3%, while XL surged 6.1%
to mark its best day in more than two weeks.
Other Southeast Asian markets also nudged higher after U.S.
President Donald Trump hinted a trade deal with China could
happen sooner than expected.
Trump's salvo spurred a rally in global equities but
regional markets were largely muted, reflecting that local
investors see this as only a short-term catalyst since the trade
spat has caused enormous volatility in markets.
"Markets could be less sensitive towards such demonstrations
of 'goodwill' and may prefer to wait for concrete progress in
talks," Maybank analysts said in a note.
Thai stocks .SETI added 0.5% amid broad-based gains with
telco Advanced Info Service PCL ADVANC.BK topping the
benchmark.
Singapore shares .STI remained unchanged as data showed
that the city-state's industrial output for August declined 8%
to miss expectations by a wide margin. The Philippine stock index .PSI also ended flat prior to
the central bank's policy decision where a 25 bps trim was
delivered.
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SOUTHEAST ASIAN STOCK MARKETS
Change on the day
Market Current Previous close Pct Move
Singapore 3125.81 3125.82 0.00
Bangkok 1636.75 1628.38 0.51
Manila 7896.48 7896.24 0.00
Jakarta 6230.334 6146.404 1.37
Kuala Lumpur 1593 1589.58 0.22
Ho Chi Minh 990.75 987.3 0.35
Change so far in 2019
Market Current End 2018 Pct Move
Singapore 3125.81 3068.76 1.86
Bangkok 1636.75 1563.88 4.66
Manila 7896.48 7,466.02 5.77
Jakarta 6230.334 6,194.50 0.58
Kuala Lumpur 1593 1690.58 -5.77
Ho Chi Minh 990.75 892.54 11.00