SE Asia Stocks-Indonesia hits record closing high on coal demand outlook

By Nicole Pinto

Oct 24 (Reuters) - Indonesian shares hit a record

closing high on Tuesday, as coal miners gained after the

International Energy Agency forecast strong prospects for energy

demand in Southeast Asia, while most other markets in the region

fell on profit-taking.

The IEA said overall energy demand is expected to climb

nearly 60 percent by 2040 from now, led by power generation, and

that Southeast Asia is expected to install more than 565

gigawatts (GW) of power-generation capacity in that period.

Coal and renewables would account for almost 70 percent of

new output, it said.

Indonesian shares edged up at the close after also hitting a

record intraday high, with Bayan Resources Tbk PT

jumping 20 percent, Bumi Resources up about 2.5

percent and Adaro Energy Tbk PT climbing about 2.2

percent.

Thai shares ended 0.6 percent higher, helped by

gains in energy stocks, with PTT PCL closing up 0.5

percent and Thai Oil Pcl rising 3.8 percent.

In other markets, Malaysia closed at its lowest in

more than six months, while the Philippine index was the

biggest loser in the region. Singapore edged down 0.5

percent.

"Most of the markets are trading at their historical highs

and we should be seeing bouts of profit-taking due to the sharp

rallies over the past few months," said Manny Cruz, an analyst

at the Manila-based Asiasec Equities Inc.

Philippine stocks were dragged down by financial and

industrial shares, with BDO Unibank Inc down 3.5

percent and SM Investments Corp shedding 1.1 percent.

Singapore ended with broad-based losses, with United

Overseas Bank Ltd and Oversea-Chinese Banking

Corporation Ltd ending 0.5 percent and 0.4 percent

lower, respectively.

Malaysia fell 0.3 percent, with CIMB Group Holdings Bhd

down 1.1 percent to close at a five-month low, while

Genting Malaysia Bhd hit an eight-month low.

The index has slipped for five out of the last six

sessions.

For Asian Companies click;

SOUTHEAST ASIAN STOCK MARKETS: Change on the day

Market Current Previous Pct Move

close

Singapore 3334.67 3349.8 -0.45

Bangkok 1701.81 1692.58 0.55

Manila 8279.92 8348.32 -0.82

Jakarta 5952.076 5950.026 0.03

Kuala Lumpur 1736.14 1741.47 -0.31

Ho Chi Minh 825.24 820.04 0.63

Change on year

Market Current End prev yr Pct Move

Singapore 3334.67 2880.76 15.76

Bangkok 1701.81 1542.94 10.30

Manila 8279.92 6840.64 21.04

Jakarta 5952.076 5296.711 12.37

Kuala Lumpur 1736.14 1641.73 5.75

Ho Chi Minh 825.24 664.87 24.12

(Reporting by Nicole Pinto; Editing by Biju Dwarakanath)