Southeast Asia stocks close mixed

Southeast Asia stocks close mixed

Malaysia high on crude gains, Indonesia down

Under-construction tower blocks are pictured behind a flyover in Jakarta on Aug 12, 2016. Indonesian stocks plunged on Monday after a drop in exports and imports. (AFP photo)
Under-construction tower blocks are pictured behind a flyover in Jakarta on Aug 12, 2016. Indonesian stocks plunged on Monday after a drop in exports and imports. (AFP photo)

Indonesian shares fell to two-week lows on Monday after a sharp drop in July exports and imports dampened investor sentiment, while Malaysian stocks hit three-and-a-half month highs as energy stocks gained on firm oil prices.

Indonesia's exports and imports plunged on an annual basis in July, the statistics bureau said, confounding expectations for the first growth in 22 months.

The Jakarta Composite Index closed 1.05% lower, after declining as much as 1.5% earlier in the session to its lowest since Aug 1.

Meanwhile, sentiment in Asian markets got a boost after a rally in Chinese stocks helped offset news of Japan's economic growth slowing to a halt last quarter.

Malaysian shares hit a three-and-a-half month high, helped by energy stocks after oil prices rose to fresh highs for the month of August. Sapurakencana Petroleum Bhd gained 4.7%.

Philippine shares recovered from earlier losses to close marginally higher, while Vietnam ended up 0.57%, driven by oil and gas stocks including Petrovietnam Gas Joint Stock Corp.

Singapore shares closed almost steady with financial stocks among the top losers.

Southeast Asian stock markets

 

 

Current

Previous

% change

Indonesia

5,320.56

5,377.19

-1.05

Malaysia

1,690.33

1,684.15

+0.37

Philippines

7,960.17

7955.86

+0.05

Singapore

2,867.21

2,867.40

-0.01

Vietnam

659.47

655.71

+0.57

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