By Chris Thomas
May 30 Most Southeast Asian stock markets
finished lower on Tuesday, in line with broader Asia, for lack
of cues, with several major markets closed for holidays.
Concerns about a Greek bailout, early Italian elections and
comments by the European Central Bank chief about the need for
continued stimulus sapped risk appetite and weighed on Asian
MSCI's broadest index of Asia-Pacific shares outside Japan
fell 0.1 percent.
"Starting tomorrow, markets may be more active because we're
going to see major economic data," said Rakpong Chaisuparakul, a
strategist with KGI Securities (Thailand), referring to
China's factory activity data, due on Wednesday.
In addition, Thailand will release April trade data, which
will help predict second quarter economic growth, Rakpong said.
Thailand's customs-cleared exports are expected to have
risen for a second straight month in April from a year earlier,
a Reuters poll found.
Singapore shares extended losses into a third
session, hitting its lowest close since May 1.
"We had some geopolitical concerns rearing its head in the
Asian morning," said Emmanuel Ng, a strategist at OCBC,
Singapore. "Also, net bond and equity inflows into the region
are experiencing a little bit of a slowdown in recent sessions."
The city-state's top financial stocks took a dive, with
United Overseas Bank (UOB) and DBS Group Holdings
falling as much as 1.5 percent each, while
Oversea-Chinese Banking Corp dropped 1.1 percent.
Singapore's central bank has fined UOB for breaches of
anti-money laundering rules for transactions related to
Malaysia's scandal-ridden state fund 1MDB.
Philippine shares closed at its lowest in nearly a
week, pulled down by real estate stocks.
Ayala Land fell as much as 1.4 percent, while SM
Prime Holdings slid 0.5 percent after hitting a record
high in the previous session.
Vietnam fell as much as 1.1 percent, its biggest drop
in more than six weeks. Vinamilk, the country's largest
dairy company, was the biggest drag on the index, falling as
much as 1.6 percent.
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SOUTHEAST ASIAN STOCK MARKETS: Change on day
Market Current Previous Close Pct Move
Singapore 3204.79 3214.55 -0.30
Bangkok 1568.57 1568.17 0.03
Manila 7860.77 7886.03 -0.32
Jakarta 5693.391 5712.331 -0.33
Kuala Lumpur 1765.34 1764.89 0.03
Ho Chi Minh 738.21 746.25 -1.08
Change on year
Market Current End 2016 Pct Move
Singapore 3204.79 2880.76 11.25
Bangkok 1568.57 1542.94 1.66
Manila 7860.77 6840.64 14.91
Jakarta 5693.391 5296.711 7.49
Kuala Lumpur 1765.34 1641.73 7.53
Ho Chi Minh 738.21 664.87 11.03
(Reporting by Chris Thomas; Additional reporting by Christina
Martin; Editing by Amrutha Gayathri)