December 14, 2016 / 10:42 AM / 9 months ago

SE Asia Stocks-Wary ahead of Fed move on US interest rates

Dec 14 (Reuters) - Southeast Asian stock markets, barring
Vietnam and the Philippines, ended in the red as investors
turned cautious ahead of the conclusion of a two-day policy
meeting of the U.S. Federal Reserve that is widely expected to
raise interest rates.
    Markets are looking for hints on what is in store for them
in 2017, as a 25 basis point rate rise is fully priced in, as
are two more hikes next year. Any sign of a move faster than
that is however likely to hurt emerging markets. 
    It now depends on the "wording of the communique" to get
some sense of the "post-rate hike thinking of the FOMC (Federal
Open Market Committee)," said Fiachra Mac Cana, managing
director and head of research at Ho Chi Minh Securities.
    The outcome of the Fed meeting will be announced at 1900
GMT, followed by Chair Janet Yellen's news conference.
    Markets are looking out for the "future trajectory of rate
hikes" or the "monetary implications of the proposed fiscal
stimulus," Mac Cana said.
    Overly aggressive fiscal, tax and other changes under
incoming President Donald Trump's administration could force the
U.S. central bank into more rapid interest rate hikes.
 
    Thai stocks closed lower for the first time in six
sessions, dragged down by financial and energy shares. 
    Siam Commercial Bank fell 2.34 percent, while
Thailand's largest energy firm PTT Pcl lost half a
percent.
    Indonesia ended 0.6 percent lower, pulled down by
consumer and financial stocks.
    Bank Rakyat Indonesia fell nearly 2 percent, while
Unilever Indonesia lost 1.7 percent.
    Vietnam ended 1.6 percent higher, after falling for
two straight sessions.
    Saigon Beer Alcohol Beverage Corp rose 7 percent,
while Bank for Investment and Development of Vietnam,
one of the biggest listed banks by assets, gained 6.3 percent.
    Philippine shares ended 0.7 percent higher, led by
industrials and financial stocks.
    Ayala Corp gained 4.3 percent, while SM Investments
Corp rose nearly 2 percent.
    
    For Asian Companies click;  

SOUTHEAST ASIAN STOCK MARKETS
    
    
  Change on day                                    
  Market          Current      Prev close  Pct Move
  Singapore       2954.06      2955.23     -0.04
  Bangkok         1521.25      1530.21     -0.59
  Manila          6928.34      6880.91     0.69
  Jakarta         5262.817     5293.619    -0.58
  Kuala Lumpur    1643.29      1645.28     -0.12
  Ho Chi Minh     665.14       654.66      1.60
                                           
  Change on year                           
  Market          Current      End 2015    Pct Move
  Singapore       2954.06      2882.73     2.47
  Bangkok         1521.25      1288.02     18.11
  Manila          6928.34      6952.08     -0.34
  Jakarta         5262.817     4593.008    14.58
  Kuala Lumpur    1643.29      1692.51     -2.91
  Ho Chi Minh     665.14       579.03      14.87
 
 (Reporting by Krishna V Kurup in Bengaluru; Editing by Biju
Dwarakanath)

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