By Sindhu Chandrasekaran
Sept 14 Most Southeast Asian stock markets ended
lower on Wednesday in line with Asian peers, as rising bond
yields and volatility forced investors to unwind positions while
uncertainty over global central banks' next moves hurt risk
While the rise in U.S. bond yields was in part due to heavy
Treasury and corporate debt supply, it also reflected concerns
about the limits of global central bank policy in reviving
U.S. interest rate futures <0#FF:> are pricing in only about
a 10 percent chance of a rate hike by the Federal Reserve at its
policy review next week.
Inflows into emerging-market equity funds amounted to $24
billion over the past 10 weeks, the highest on record, according
to Bank of America Merrill Lynch flow data.
Indonesian shares fell for a fourth straight session
with consumer staples and discretionary stocks leading the
losses. Astra International Tbk PT fell 2.8 percent,
while PT Indofood CBP Sukses Makmur Tbk dropped 4.2
Negative sentiments in the market have become "good excuses
for investors to lock in their profits," Daewoo Securities
Indonesia said in a note.
Malaysian shares declined for a third straight
session, led by telecom services and financial stocks. Axiata
Group Bhd fell 3.3 percent, while Public Bank Bhd
dropped 1.7 percent.
Malaysian banks' exposure to the oil and gas sector is still
high and we expect this to continue to remain an issue for these
banks due to volatile oil prices, Nomura said in note.
Malaysia is the only clear-cut market in the region which
loses when oil prices fall, said Peter Sartori, head of Asian
equity at Nikko Asset Management in Singapore, adding that "many
fiscal positions across Asia are improving, except for
Bucking the trend, Thailand shares closed 0.8
percent higher, led by financials and industrials.
"The long-term future for Thailand is pretty good," Sartori
Thailand's central bank raised its 2016 economic growth
forecast to 3.2 percent from 3.1 percent, but maintained next
year's growth outlook at 3.2 percent.
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SOUTHEAST ASIAN STOCK MARKETS
Change on day
Market Current Prev close Pct Move
Singapore 2809.35 2818.38 -0.32
Bangkok 1458.19 1446.84 0.78
Manila 7546.01 7550.27 -0.06
Jakarta 5146.038 5215.567 -1.33
Kuala Lumpur 1661.39 1677.18 -0.94
Ho Chi Minh 656.64 659.72 -0.47
Change on year
Market Current End 2015 Pct Move
Singapore 2809.35 2882.73 -2.55
Bangkok 1458.19 1288.02 13.21
Manila 7546.01 6952.08 8.54
Jakarta 5146.038 4593.008 12.04
Kuala Lumpur 1661.39 1692.51 -1.84
Ho Chi Minh 656.64 579.03 13.40
(Reporting by Sindhu Chandrasekaran; Additional reporting by
Nichola Saminather; Editing by Subhranshu Sahu)