Indonesia, Malaysian shares climb, Philippines, Vietnamese fall

Published: May 17, 2018 13:12:24 | Updated: May 19, 2018 11:12:40


File Photo (Collected)

Southeast Asian stock markets were mixed on Thursday, while Indonesia, Malaysian shares climbed and the markets in Philippines, Vietnamese slipped.

The Indonesian shares edged higher ahead of the central bank's decision on interest rates due later in the day, while consumer and utility stocks drove Malaysian stocks up.

Jakarta's main index climbed 0.7 per cent with Telekom Indonesia gaining over 3.0 per cent and mining contractor United Tractors rising as much as 4.1 per cent.

A Reuters poll showed that Bank Indonesia would raise benchmark interest rates to support the rupiah, which has lost more than 5.0 per cent against the dollar since late January.

Kuala Lumpur's main index rose as much as half a percent with Genting Bhd gaining as much as 5.4 per cent. Gas processor Petronas Gas Bhd was up as much as 2.5 per cent, reports Reuters.

Elsewhere in Southeast Asia, Singapore shares snapped three sessions of losses and rose as much as 0.5 per cent.

Thai Beverage gained as much as 1.3 per cent while Singapore Telecommunications climbed 0.6 per cent.

The city-state's non-oil domestic exports rose sharply in April, beating expectations, thanks to a surge in pharmaceuticals sales.

Meanwhile, Philippines shed as much as 0.9 per cent, hurt by losses in industrials and financials.

Ayala Corp fell over 3.0 per cent, while SM Investment Corp was down as much as 1.7 per cent.

Vietnamese shares slid 0.9 per cent with real estate stocks leading the losses. Vingroup Joint Stock co, down 4.6 per cent, was the biggest drag.

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