By Chris Thomas
June 6 Southeast Asian stock markets, except
Vietnam, were sluggish on Tuesday, taking a cue from Asian peers
that fell as global risk appetite dampened amid escalating
tensions in the Middle East and ahead of key events later this
Asian shares pulled back from a two-year high hit on Monday,
with MSCI's broadest index of Asia-Pacific shares outside Japan
falling 0.2 percent in early trade.
Oil prices extended losses from the previous session over
concerns that a rift between Qatar and other Arab states could
undermine an OPEC-led push to tighten the market.
Elections in the UK, a European Central Bank meeting and an
impending testimony by former FBI Director James Comey have made
investors cautious, said Grace Aller, an analyst with
Manila-based AP Securities.
Comey was leading a probe into alleged Russian meddling in
last year's U.S. presidential election and possible collusion by
Donald Trump's campaign when the president fired him last
In Southeast Asia, Philippine shares fell as much as
0.5 percent with heavyweights SM Investments Corp and SM
Prime Holdings losing as much as 1.3 percent each.
"We expect investors to cash in their gains now in
anticipation of (a likely) Fed interest rate hike next week,"
said Rachelle Cruz, an analyst with AP Securities.
Indonesian shares slipped as much as 0.4 percent,
led by losses in financial stocks.
Bank Rakyat Indonesia fell as much as 1.2 percent,
while Bank Central Asia dropped 1.3 percent.
An index of Indonesia's 45 most liquid stocks lost
as much as 0.5 percent, its biggest fall in nearly two weeks.
Vietnam shares rose to a one-week high, driven by
lenders Vietcombank and Sacombank, while
Singapore, Thai, and Malaysian shares
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SOUTHEAST ASIAN STOCK MARKETS: Change at 0432 GMT
Market Current Previous Close Pct Move
Singapore 3238.44 3238.31 0.00
Bangkok 1567.4 1566.85 0.04
Manila 7966.62 8001.38 -0.43
Jakarta 5732.289 5748.235 -0.28
Kuala Lumpur 1789.47 1787.95 0.09
Ho Chi Minh 746.61 743.49 0.42
Change on year
Market Current End 2016 Pct Move
Singapore 3238.44 2880.76 12.42
Bangkok 1567.4 1542.94 1.59
Manila 7966.62 6840.64 16.46
Jakarta 5732.289 5296.711 8.22
Kuala Lumpur 1789.47 1641.73 9.00
Ho Chi Minh 746.61 664.87 12.29
(Reporting by Chris Thomas; Editing by Biju Dwarakanath)