March 30, 2017 / 10:46 AM / 5 months ago

SE Asia Stocks-Tepid on lack of catalyst; Vietnam hits over 9-yr closing high

    By Urvashi Goenka
    March 30 (Reuters) - Vietnam shares hit their highest close
in more than nine years on Thursday with consumer staples
leading the gains, while other   Southeast Asian markets moved
sideways in the absence of market-moving macroeconomic triggers.
    MSCI's broadest index of Asia-Pacific shares
outside Japan fell 0.1 percent.
    "Broadly I think it's more of a mixed sentiment between
profit-taking and what kind of next upside catalyst do we have,"
 said Taye Shim, head of research at Jakarta-based Mirae Asset
Sekuritas.
    Vietnam shares rose 0.5 percent to their highest
close since February 2008 and have gained 8.9 percent so far
this year.
    Seafood processor Nam Viet Corp rose 16.4 percent,
while Vietnam Dairy Products JSC gained 1.6 percent.
    Thai shares closed 0.3 percent higher, helped by
gains in material and real estate stocks. CIMB Thai Bank Pcl
 rose 4.4 percent, while Origin Property Pcl
jumped 13.4 percent.
    Philippine shares edged up with industrials and
consumer discretionary stocks accounting for most of the gains.
Aboitiz Equity Ventures Inc gained 0.2 percent, while
Jollibee Foods Corp rose 3.5 percent.
    Singapore shares fell 0.4 percent, hurt by losses in
industrial and real estate stocks, with Jardine Cycle & Carriage
 and CapitaLand Ltd shedding 1.1 percent and
1.4 percent, respectively. Both stocks were among the worst
performers on the index.
    Malaysian shares edged lower as consumer
discretionary financials lost ground. Resorts operator Genting
Malaysia Bhd fell 2.6 percent, while Malayan Banking
Bhd dropped 0.6 percent.
    Indonesian shares closed flat after hitting a record
high in the previous session.
    
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SOUTHEAST ASIAN STOCK MARKETS: Change on the day
  Market           Current       previous     Pct Move
                                 close        
  Singapore        3173.24       3184.57      -0.36
  Bangkok          1579.88       1574.97      0.31
  Manila           7332.59       7324         0.12
  Jakarta          5592.952      5592.51      0.01
  Kuala Lumpur     1749.25       1750.41      -0.07
 Ho Chi Minh       723.86        720.47       0.47
                                              
  Change on year                              
  Market           Current       End prev yr  Pct Move
  Singapore        3173.24       2880.76      10.15
  Bangkok          1579.88       1542.94      2.39
  Manila           7332.59       6840.64      7.19
  Jakarta          5592.952      5296.711     5.59
  Kuala Lumpur     1749.25       1641.73      6.55
 Ho Chi Minh       723.86        664.87       8.87
 
 (Reporting by Urvashi Goenka in Bengaluru; Editing by
Subhranshu Sahu)
  

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