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SE Asia Stocks-Most rise as China data lifts spirit; Indonesia drops on weak auto sales

Published 01/17/2020, 12:13 PM
Updated 01/17/2020, 12:16 PM
SE Asia Stocks-Most rise as China data lifts spirit; Indonesia drops on weak auto sales
STEL
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JKLQ45
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JKSE
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KLSE
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STI
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AXIA
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CELC
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SETI
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PSI
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ASII
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ALI
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BDO
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* China's Q4 GDP comes in line with expectations
* Singapore's Dec exports post surprise rebound

By Anushka Trivedi
Jan 17 (Reuters) - Indonesian shares skid on Friday as weak
auto sales data weighed on consumer stocks, while most other
Southeast Asian markets climbed as a slew of solid data from
China lifted investor sentiment.
Indonesia's main stock index .JKSE slid as much as 0.3%,
with Astra International Tbk PT ASII.JK , the country's largest
automobile distributor, being the biggest laggard with a drop of
more than 1%.
Auto sales in Indonesia declined 1.4% last month, with all
major brands reporting weaker numbers than a year earlier.
Jefferies analysts said they did not expect Astra to make a
meaningful recovery in 2020, but expect it to maintain its
market leadership.
An index of Jakarta's forty-five most liquid stocks
.JKLQ45 was 0.1% lower.
Meanwhile, China, the world's second-largest economy,
matched market expectations with a 6% growth in the fourth
quarter. It also logged a surprise acceleration in factory
output and investment growth to end 2019 on a firmer note.
"These numbers suggest that China's economy has stabilised
following exhaustive efforts by the government and central bank
... The negative direction of travel by China's economy may have
been abated," ING analysts said in a note.
Malaysian shares .KLSE advanced 0.3%, driven by
telecommunication stocks.
Axiata Group Bhd AXIA.KL jumped 6.2% in its best intraday
gain in over eight months, while Digi.com Bhd DSOM.KL advanced
2.4%.
Philippine stocks .PSI edged higher after two consecutive
sessions of falls, but were on track for a weekly decline of
1.4%.
Financial and real estate stocks led gains, with BDO Unibank
Inc BDO.PS and Ayala Land Inc ALI.PS adding 0.6% and 1.6%,
respectively.
Singapore shares .STI were largely flat, with telecoms
weighing on the benchmark index, after exports posted a surprise
rebound in December after nine months of contraction, partly
boosted by a sharp rise in pharmaceutical shipments.
However, economists said further declines in electronics
exports did not yet indicate the recovery could be sustained.
Singapore Telecommunications Ltd STEL.SI was the top drag
with a nearly 1% fall.
Thai shares .SETI rose 0.3%, heading for a more than 1.1%
weekly gain.


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SOUTHEAST ASIAN STOCK MARKETS AS AT 0407 AM

STOCK MARKETS
Change on the day
Market Current Previous close Pct Move
Singapore 3274.38 3278 -0.11
Bangkok 1600.57 1595.87 0.29
Manila 7669.95 7653.18 0.22
Jakarta 6271.677 6286.048 -0.23
Kuala Lumpur 1592.95 1587.88 0.32
Ho Chi Minh 976.01 974.31 0.17

Change so far in 2020
Market Current End 2019 Pct Move
Singapore 3274.38 3222.83 1.60
Bangkok 1600.57 1579.84 1.31
Manila 7669.95 7,815.26 -1.86
Jakarta 6271.677 6,299.54 -0.44
Kuala Lumpur 1592.95 1588.76 0.26
Ho Chi Minh 976.01 960.99 1.56

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