November 29, 2009

the bakries @ reuters … 291109

Filed under: BURSA bumi — bumi2009fans @ 8:14 am

SE Asia Stocks-Singapore, Malaysia down ahead of holiday
Thu Nov 26, 2009 5:31am EST
* Indonesia at 2-week lows; Thailand turns lower again
* Vietnam extends losses to near-4-month lows
* Manila bucks trend, to keep accommodative policy
By Viparat Jantraprap
BANGKOK, Nov 26 (Reuters) – Singapore stocks fell to
one-week lows on Thursday, weighed down by losses in big caps
and financials, while Indonesia slid to its lowest level in two
weeks as shares in the Bakrie group were hit by fund-raising
Markets in Southeast Asia tracked weakness in stock markets
in Shanghai .SSEC and Hong Kong .HSI, dealers said, as
Malaysia edged down 0.03 percent ahead of a market holiday on
Friday. Singapore is also closed on Friday.
Thailand declined 1.4 percent, while Vietnam .VNI lost
4.1 percent, still reeling from an interest rate rise and
devaluation on Wednesday.
The Philippines .PSI bucked the trend, up 0.8 percent as
its central bank said it would stick to its accommodative
monetary policy stance. Ayala Land (ALI.PS: Quote, Profile, Research, Stock Buzz) rose 2 percent and
Metro Bank (MBT.PS: Quote, Profile, Research, Stock Buzz) 3 percent.
Singapore’s index .FTSTI ended down 1.1 percent at its
lowest since Nov. 20, with DBS Group (DBSM.SI: Quote, Profile, Research, Stock Buzz), Southeast
Asia’s biggest bank, 2.1 percent lower, and CapitaLand
(CATL.SI: Quote, Profile, Research, Stock Buzz), the largest developer in the region, down 1.7
Indonesia .JKSE dropped 2.8 percent to its lowest since
Nov. 11, as shares in Bakrie group companies tumbled on the
group’s fund-raising plans, with coal miner Darma Henwa
(DEWA.JK: Quote, Profile, Research, Stock Buzz) dropping 18 percent after it said it would raise
624.4 billion rupiah ($66 million) from a rights issue.
Holding company Bakrie & Brothers (BNBR.JK: Quote, Profile, Research, Stock Buzz) lost 8 percent
and coal miner Bumi Resources (BUMI.JK: Quote, Profile, Research, Stock Buzz) dropped 8.7 percent.
They announced issues of bonds to raise $250 million and $300
million respectively.
In Kuala Lumpur, tele


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