March 9, 2017 / 10:35 AM / 5 months ago

SE Asia Stocks-Sluggish ahead of Fed meeting; Singapore closes at 1-wk low

    By Ambar Warrick
    March 9 (Reuters) - Most Southeast Asian stock markets fell
on Thursday after a strong private payroll report from the
United States made a rate hike by the Federal Reserve a near
certainty.
    U.S. private sector job growth recorded its biggest increase
in more than a year in February amid a surge in construction and
factory hiring, suggesting the economy stays on solid ground.

    "People are concerned that the Fed may be more hawkish than
previously expected," said Liu Jinshu, director of research at
NRA Securities.
    "There are fears that not only will the Fed hike interest
rates in March, but they may even hike the trajectory of rates."
    Singapore shares fell nearly 1 percent to their
lowest close since Feb. 28, dragged down by financials. DBS
Group, the city-state's largest bank by market
capitalisation, closed at its lowest in over a week.
    Thai shares trimmed early falls to close marginally
lower with energy and material stocks weighing on the index. Oil
and gas supplier PTT Pcl fell 1 percent, while refiner
Thai Oil Pcl closed 2 percent lower.
    Oil prices rallied on Thursday, recovering ground after the
biggest falls this year, but record U.S. crude inventories kept
sentiment weak, pointing to a global glut despite supply
cuts.
    Malaysian shares closed 0.5 percent lower with
financials being the main drag. Malayan Banking Bhd
posted its biggest percentage loss since Jan. 16 with a drop of
1.13 percent.
    Philippine shares settled flat after rising 0.4
percent earlier, as gains in industrials and telecoms were
offset by losses in consumer staple and real estate stocks. 
    Indonesia closed nearly unchanged with the index of
the 45 most liquid stocks reflecting the subdued
sentiment in the market.
    
For Asian Companies click;  

SOUTHEAST ASIAN STOCK MARKETS: Change on day    
  Market           Current       Previous     Pct Move
                                 Close        
  Singapore        3118.84       3145.29      -0.84
  Bangkok          1549.24       1551.73      -0.16
  Manila           7295.45       7294.56      0.01
  Jakarta          5402.386      5393.764     0.16
  Kuala Lumpur     1717.42       1725.54      -0.47
  Ho Chi Minh      715.8         716.6        -0.11
                                              
  Change so far                               
 this year                                    
  Market           Current       End 2016     Pct Move
  Singapore        3118.84       2880.76      8.26
  Bangkok          1549.24       1542.94      0.41
  Manila           7295.45       6840.64      6.43
  Jakarta          5402.386      5296.711     2.00
  Kuala Lumpur     1717.42       1641.73      4.61
  Ho Chi Minh      715.8         664.87       7.38
 
 (Reporting by Ambar Warrick; Editing by Subhranshu Sahu)
  

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