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SE Asia Stocks-Markets tepid as trade optimism ebbs; Indonesia ticks up

Published 10/17/2019, 01:00 PM
Updated 10/17/2019, 01:08 PM
SE Asia Stocks-Markets tepid as trade optimism ebbs; Indonesia ticks up
STI
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STEL
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YAZG
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JKSE
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SETI
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PSI
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INDF
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UNVR
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AC
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VNI
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* Singapore non-oil domestic exports shrink for 7th month
* Philippines retreats from near four-week high
* Indonesia set to post fifth straight session of gains

By Sameer Manekar
Oct 17 (Reuters) - Most Southeast Asian stock markets were
tepid on Thursday as hopes of a Sino-U.S. trade deal waned amid
a lack of concrete details, while the Indonesian index extended
gains ahead of President Joko Widodo's cabinet formation due
this weekend.
U.S. Treasury Secretary Steven Mnuchin said that U.S. and
Chinese negotiators were working on finalising a Phase 1 trade
deal for the Chinese and U.S. presidents to sign next month, but
said that there were no plans for another high-level meeting on
the trade deal outlined last week. "Even if a deal is signed, it remains uncertain if the
obligations can be fully met on both sides. This could lead to
further ups and downs in trade negotiations, and jeopardize the
limited agreement that has been reached," analysts at DBS said
in a note.
The Indonesian index .JKSE was poised to close firmer for
a fifth session, lifted by the consumer sector, with food
processor Indofood Sukses Makmur INDF.JK and Unilever
Indonesia Tbk PT UNVR.JK rising 1% and 0.9%, respectively.
Widodo is expected to be sworn in as the Indonesian
President on Oct. 20 after winning a second term in national
elections in April. "The fact that the finance minister Sri Mulyani Indrawati is
going to be sitting as the cabinet member has spurred positive
sentiment that President Joko Widodo will be engaged and focused
on economic reforms and growth," Taye Shim, head of research at
Mirae Asset Sekuritas said.
Singapore stocks .STI dropped after data showed that the
city-state's non-oil domestic exports shrank for a seventh
straight month in September, while their electronic shipments
continued to slide. Industrials and telecommunication sectors were the biggest
drags in the index, with Yangzijian Shipbuilding Holdings
YAZG.SI and Singapore Telecommunications STEL.SI shedding
2.1% and 0.3%, respectively.
The Philippine benchmark index .PSI retreated from a
nearly four-week high hit in the previous session. Industrials
and financials led declines in the local benchmark, with index
heavyweight Ayala Corp AC.PS dropping 1.5%.
The Vietnam index VNI dipped 0.3%, while Thai stocks
.SETI were trading flat.

For Asian Companies click;

SOUTHEAST ASIAN STOCK MARKETS

Change on the day
Market Current Previous close Pct Move
Singapore 3127.32 3134.71 -0.24
Bangkok 1634.75 1634.46 0.02
Manila 7896.18 7915.3 -0.24
Jakarta 6178.71 6169.592 0.15
Kuala Lumpur 1573.69 1574.9 -0.08
Ho Chi Minh 991.9 994.46 -0.26

Change so far in 2019
Market Current End 2018 Pct Move
Singapore 3127.32 3068.76 1.91
Bangkok 1634.75 1563.88 4.53
Manila 7896.18 7,466.02 5.76
Jakarta 6178.71 6,194.50 -0.25
Kuala Lumpur 1573.69 1690.58 -6.91
Ho Chi Minh 991.9 892.54 11.13

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