Southeast Asian stocks: Thailand rises; Indonesia slips

23 Feb, 2019

Thailand recovered early losses to rise the most across Southeast Asian stock markets on Friday, boosted by gains in consumer and energy counters, while Indonesia was the worst hit.
Thai index climbed 0.7 percent, supported by gains in the consumer and materials sector, shrugging off a fall in the country's customs-cleared exports in January.
Thailand's customs-cleared exports dropped for a third straight month in January, falling 5.65 percent from a year earlier, compared to the one percent slip predicted by a Reuters poll.
Shares of CP All and PTT PCL boosted the index rising after both companies posted upbeat earnings on Thursday.
The Philippine index closed up 0.4 percent, with industrial stocks SM Investments Corp and Aboitiz Equity Ventures rising 0.8 and 2.4 percent, respectively.
"The bellwether index traded in the red throughout the afternoon session, falling to as low as 7,894.56 before heavy buying at the close catapulted the PSEi to 7,962.13, 30.83pts or 0.39 percent higher," a note from RCBC said.
Meanwhile, the Indonesian benchmark dipped 0.6 percent, hurt by financial and consumer stocks. But for the week, the index gained 1.8 percent snapping two straight weeks of losses.
Charoen Pokphand Indonesia slipped 4.3 percent and Bank Mandiri dipped 3.1 percent
Malaysia's index ended 0.5 percent lower, snapping four straight sessions of gains, after the country recorded a fall in consumer prices for the month of January. For the week however, the index gained nearly 2 percent.
Healthcare and Telecom stocks weighed the index down with IHH Healthcare Bhd dropping 1.4 percent and Maxis Bhd shedding 2.3 percent.
Singapore index also ended slightly lower, following disappointing corporate earnings for the December quarter.
Wilmar International Ltd and Oversea-Chinese Banking Corp Ltd fell after posting a drop in quarterly profits.

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