- SE Asia Stocks - Up; Thai banks weak ahead of rate decision
BANGKOK, Aug 5 (Reuters) - Southeast Asian stock markets rose on Wednesday, with Malaysia rebounding after June exports unexpectedly increased, but Thai banking shares bucked the trend ahead of the central bank's interest rate decision. The Kuala Lumpur composite index was up 0.3 percent, recouping some of its losses the previous day. The top gainer was liquefied natural gas shipper MISC Bhd, which rose 3.4 percent after a brokerage upgrade. Malaysia's June exports unexpectedly rose 5 percent from a year earlier as shipments to China surged, government data showed on Wednesday. In Bangkok, selling in banking shares such as Kasikornbank and Siam Commercial Bank trimmed some early gains of the key SET index. "Most investors will likely wait for the result from today's MPC meeting. If the MPC keeps the RP1 at 1.50 percent as expected, we believe big banks, led by KBANK, will recover," said broker Maybank Kim Eng Securities in a report. Twenty of 23 economists in a Reuters poll predict the monetary policy committee (MPC) will leave the one-day repurchase rate at 1.50 percent for a second straight meeting following surprise cuts in March and April. Singapore's Straits Times Index was a tad up after an early slide to its lowest since October as Asian shares fell and U.S. stocks drifted lower overnight as investors worried about a rise in interest rates. Stocks in Indonesia rose 0.5 percent, paring early gains after data showed economic growth in the second quarter dropped to its slowest since 2009. The Philippine index extended its gains for a sixth day, with the country's annual inflation slowing to a record low of 0.8 percent in July, as expected. Vietnam's main index bounced back 0.5 percent, with blue-chips leading the gains. The rebound came despite foreign investors turning net sellers of Vietnamese shares on Tuesday after bottom-fishing in the previous three sessions when the market corrected amid disappointment over the stalled Pacific trade talks. For Asian Companies click; SOUTHEAST ASIAN STOCK MARKETS Change at 0601 GMT Market Current Prev Close Pct Move Singapore 3192.04 3191.04 +0.03 Kuala Lumpur 1728.34 1723.73 +0.27 Bangkok 1437.60 1432.16 +0.38 Jakarta 4804.63 4781.09 +0.49 Manila 7664.37 7598.29 +0.87 Ho Chi Minh 603.75 600.76 +0.50 (Reporting by Viparat Jantraprap; Editing by Prateek Chatterjee)
- EXCLUSIVE-India likely to bring in rules to make mills export sugar stocks-sources
* Surge in sugar exports could come amid glut in world market
- Australia's Fortescue jumps 9 pct on report of Chinese interest in assets
SYDNEY, Aug 5 (Reuters) - Shares in Australia's Fortescue Metals Group jumped 9 percent on Wednesday, boosted by a report that China's Hebei Iron & Steel Group and Tewoo Group could invest in its infrastructure and mining assets.
- Taiwan stocks down on weak overseas markets, local economic outlook
TAIPEI, Aug 5 (Reuters) - Taiwan stocks fell on Wednesday on downbeat sentiment in overseas markets and a gloomy economic outlook at home.
- UPDATE 3-Disney shares drop after company lowers cable outlook
Aug 4 (Reuters) - Walt Disney Co lowered profit guidance for its cable networks unit and reported quarterly revenue slightly below Wall Street forecasts, sending its shares down 6 percent on Tuesday.
- UPDATE 1-Crafts website operator Etsy's loss doubles; shares tumble
Aug 4 (Reuters) - Crafts shopping website operator Etsy Inc's quarterly loss doubled due to higher marketing expenses and the company said these costs would only increase in the current quarter.
- UPDATE 3-Handbag maker Coach's profit, sales beat on Stuart Weitzman buy
* Shares rise as much as 7 pct (Adds CEO, analyst comments, details; updates shares)
- C.Agricole blames restructuring snag on ECB co-op banks review
PARIS/FRANKFURT, Aug 4 (Reuters) - Credit Agricole on Tuesday blamed a European Central Bank review of co-operative banks for its failure to make progress with a restructuring plan from which shareholders had been hoping to derive a major benefit.
- Earnings-day blues, Shire bid leave UK shares flat
LONDON, Aug 4 (Reuters) - Top UK shares ended Tuesday on a flat note, with the market pegged back by a mixed bag of corporate earnings and a $30-billion bid from drugmaker Shire to buy rival Baxalta.
- UPDATE 3-Time Inc profit beats Street; to outsource more jobs
* Looking to enter ecommerce marketplace - CFO (Adds CFO quote, details, shares)
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