Feb 28 Most Southeast Asian stock markets moved
sideways in thin trade on Tuesday as investors remained watchful
of U.S. President Donald Trump's speech later in the day to a
joint session of Congress, in which he would lay out plans for
tax reform and infrastructure spending.
Markets have been awaiting more details on Trump's proposed
stimulus plans to judge if they would boost inflation and
economic growth, and add to the case for higher U.S. interest
Analysts have warned that a lack of clarity and details on
the proposed plans may end Wall Street's record-setting run.
Philippine shares were the biggest losers in
Southeast Asia, falling more than 1 percent in their third
straight losing session, dragged down by political uncertainties
following Friday's arrest of a Senator, who is a staunch critic
of President Rodrigo Duterte's war on drugs.
The arrest has "created some political tension, which I
think is being used as a reason for lightening up on assets like
equities," said Jose Vistan, an analyst at Manila-based AB
The total approved foreign direct investment (FDI) to the
Philippines fell 10.7 percent to 219 billion pesos ($4.36
billion) in 2016, DBS Group Research said in a note on Tuesday.
The amount of FDI into the Philippines as a percentage of the
gross domestic product (GDP) is still relatively low compared to
its regional peers, DBS said.
Real estate stocks led the decline in Philippines, with
Ayala Land falling 2 percent and Robinsons land
shedding 2.5 percent.
The Thai index rose marginally as investors awaited
January trade data due later in the day. Thailand's industrial
output rose for a third straight month in January, but missed
expectations, the Industry Ministry said on Tuesday.
Singapore stocks lost 0.3 percent, on track for a
third straight session of declines. Oil and natural gas sector
led the losses, with Keppel Corp and Sembcorp
Industries falling more than 1 percent.
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SOUTHEAST ASIAN STOCK MARKETS: CHANGE AT 0458 GMT
Market Current Previous Close Pct Move
Singapore 3099.17 3108.62 -0.30
Bangkok 1560.24 1558.03 0.14
Manila 7164.55 7232.47 -0.94
Jakarta 5401.386 5382.874 0.34
Kuala Lumpur 1693.7 1693.84 -0.01
Ho Chi Minh 716.02 717.44 -0.20
Change on year
Market Current End 2016 Pct Move
Singapore 3099.17 2880.76 7.58
Bangkok 1560.24 1542.94 1.12
Manila 7164.55 6840.64 4.7
Jakarta 5401.386 5296.711 1.98
Kuala Lumpur 1693.7 1641.73 3.17
Ho Chi Minh 716.02 664.87 7.7
($1 = 50.2580 Philippine pesos)
(Reporting by Susan Mathew in Begaluru; additonal reporting by
Christina Martin; Editing by Amrutha Gayathri)