JAKARTA, June 1 — Southeast Asian stock markets were mixed today with Malaysian shares posting the biggest decline following disappointing earnings results.
Malaysia’s main stock index fell 0.7 per cent, led by telecommunications company Telekom Malaysia Bhd which was down by 4.4 per cent and set for its biggest decline since March, 2014.
The company posted a 39 per cent slump in first quarter net profit due to higher costs, broker Maybank KimEng said in a note.
The Indonesian market fell 0.5 per cent in light trading ahead of a public holiday tomorrow.
Indonesia reported 7.15 per cent inflation in May from a year earlier, up from 6.79 per cent in April and slightly higher than the 7 per cent expected by economists surveyed by Reuters.
Consumer goods stocks fell, with instant noodle giant PT Indofood Sukses Makmur Tbk down 2.4 per cent and cigarette maker PT Gudang Garam Tbk down 0.8 per cent.
Meanwhile, the Philippines market traded up 0.4 per cent and Vietnam’s market rose 1 per cent.
The Singapore and Thai stock markets are closed for the Vesak holiday and will reopen tomorrow. — Reuters
