By Chandini Monnappa
July 6 (Reuters) – Most Southeast Asian markets ended higher
on Thursday as a recovery in crude oil prices after a deep cut
overnight helped revive sentiment ahead of the European Central
Brent oil was up 1.5 percent at $48.5 a barrel,
recovering one percent of the four percent it lost in the
previous session, while broader Asian markets were down after
the U.S. Federal Reserve gave mixed signals on Wednesday.
The minutes of the Fed’s June policy meeting showed that
several officials were divided on their outlook for inflation.
“The key parts of the markets are still reluctant to move
forward as the minutes of the Fed meet show that even the
committee itself is still mixed about the proper measures to
reduce the balance sheet of the U.S. Federal Reserve,” said
Rakpong Chaisuparakul, a strategist with KGI Securities
Asian shares have been shaky this week due to tensions in
the Korean peninsula after North Korea launched an
intercontinental ballistic missile into Japanese waters, causing
the United States to warn that it was ready to use force if need
be to stop the missile program.
In southeast Asia, Thai shares closed 0.3 percent
down at their lowest in over three weeks as energy stocks slid.
“Thai energy stocks fell because oil prices fell overnight.
This is why Thai market is slightly weaker compared with Asia
today,” added Chaisuparakul.
Singapore ended the session 0.7 percent lower, with
financial stocks accounting for more than half the losses.
DBS Group Holdings Ltd and Oversea-Chinese Banking
Corporation Limited were the top losers on the index.
Philippine shares closed 0.5 percent higher, aided by
Metro Pacific Investments Corp closed up 6.7
percent at its highest in nearly two months.
Indonesian shares edged up 0.4 percent on the back
of gains in telecommunication stocks such as Telekomunikasi
Indonesia (Persero) TBK PT which climbed 1.5
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Change on the
Market Current Previous Pct Move
Singapore 3226.34 3248.71 -0.69
Bangkok 1569.64 1575.02 -0.34
Manila 7888.31 7848.84 0.50
Jakarta 5849.575 5825.054 0.42
Kuala Lumpur 1770.53 1768.16 0.13
Ho Chi Minh 782.65 778.32 0.56
Change on year
Market Current End 2016 Pct Move
Singapore 3226.34 2880.76 12.00
Bangkok 1569.64 1542.94 1.73
Manila 7888.31 6840.64 15.32
Jakarta 5849.575 5296.711 10.44
Kuala Lumpur 1770.53 1641.73 7.85
Ho Chi Minh 782.65 664.87 17.71
(Reporting by Chandini Monnappa; Editing by Vyas Mohan)