* Consumer, banking stocks weigh on Indonesia
* Thailand advances on banking stocks
By Soumyajit Saha
Oct 7 (Reuters) - Singapore shares snapped three sessions of
losses on Monday, helped by Keppel Corp and Sembcorp Industries
as the two index heavyweights reached settlements with indebted
Brazilian firm Sete Brasil, while consumer and banking stocks
sent Indonesia lower.
Keppel Corp KPLM.SI and Sembcorp Industries SCIL.SI said
they struck settlements with Sete Brasil over long-standing
contracts to build drillships and rigs. Singapore's FTSE Straits Times Index .STI closed 0.7%
higher, after shedding 2.2% in the previous three sessions.
Keppel Corp rose 1.7%, while Sembcorp Industries gained 1%.
Meanwhile, investors waited to see if the United States and
China could find a way at upcoming trade talks to end their more
than year-long tariff dispute.
Earlier in the day, Bloomberg reported that Chinese
officials had narrowed down the list of topics they were willing
to negotiate on in talks, adding to market uncertainties.
Indonesian shares .JKSE dropped over 1%, dragged mainly by
the consumer and banking sectors.
Consumer goods maker Unilever Indonesia UNVR.JK lost 3%,
while lender Bank Rakyat Indonesia (Persero) BBRI.JK dropped
1.3%.
A lower-than-expected consumer confidence in September
contributed to the downturn in the market, said Hariyanto
Wijaya, head of research at Mirae Assets Sekuritas.
Indonesia's consumer confidence index was at 121.8 in
September, against 123.1 in August, according to a central bank
survey out on Friday. Thai shares .SETI advanced in thin trade, with banking
stocks leading the gains. Lender Kasikornbank KBANK.BK rose
2%.
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SOUTHEAST ASIAN STOCK MARKETS
STOCK MARKETS
Change on the day
Market Current Previous Pct Move
close
Singapore 3099.48 3078.36 0.69
Bangkok 1613.71 1605.96 0.48
Manila 7683.22 7704.6 -0.28
Jakarta 6000.582 6061.252 -1.00
Kuala Lumpur 1559 1557.67 0.09
Ho Chi Minh 983.09 987.59 -0.46
Change so far in
2019
Market Current End 2018 Pct Move
Singapore 3099.48 3068.76 1.00
Bangkok 1613.71 1563.88 3.19
Manila 7683.22 7,466.02 2.91
Jakarta 6000.582 6,194.50 -3.13
Kuala Lumpur 1559 1690.58 -7.78
Ho Chi Minh 983.09 892.54 10.15