By Geo Tharappel
Dec 20 Most Southeast Asian stock markets closed
lower on Tuesday as capital flight worries weighed on investor
sentiment after Federal Reserve Chair Janet Yellen's upbeat view
of the U.S. jobs market strengthened the case for more rate
increases next year.
Yellen said on Monday that the U.S. labour market had
improved to its strongest in nearly a decade, suggesting that
wage growth was picking up.
Data on Thursday, including the third estimate of
third-quarter gross domestic product and personal income and
spending, will next be watched for further indications about the
strength of the U.S. economy.
"There is movement of capital out of emerging markets back
into America, causing currencies to depreciate versus the
dollar, which in turn makes more assets move out," said Joseph
Roxas, president of Manila-based Eagle Equities Inc.
The dollar bounced back towards 14-year highs on Tuesday,
boosted by Yellen's comments.
Philippine shares closed 0.8 percent lower, falling
for a fourth straight session, led by industrials and telecom
"Philippines shouldn't be hit so hard because our economy is
performing much better than the others... but we're in the same
basket labelled emerging markets," Roxas said.
Conglomerate SM Investments Corp dropped 2 percent,
while telecom services provider PLDT Inc fell 3.7
Vietnam shares closed 1.7 percent lower, dragged down
by consumer staples.
Recently-listed Saigon Beer Alcohol Beverage Corp
fell 7 percent. The stock jumped 39.3 percent last week.
Vietnam Dairy Products JSC closed 3.3 percent lower
at a more than 5-month low.
Indonesian shares extended losses for a sixth
straight session to hit their lowest in three weeks.
Telekomunikasi Indonesia (Persero) Tbk PT and
Astra International Tbk PT were among the worst
In Asia, MSCI's broadest index of Asia-Pacific shares
outside Japan was down 0.27 percent as of 0948
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SOUTHEAST ASIAN STOCK MARKETS
Change on day
Market Current prev close Pct Move
Singapore 2911.31 2913.08 -0.06
Bangkok 1511.65 1522.4 -0.71
Manila 6658.66 6714.13 -0.83
Jakarta 5162.477 5191.912 -0.57
Kuala Lumpur 1634.52 1634.3 0.01
Ho Chi Minh 662.66 674.33 -1.73
Change this year
Market Current End 2015 Pct Move
Singapore 2911.31 2882.73 0.99
Bangkok 1511.65 1288.02 17.36
Manila 6658.66 6952.08 -4.22
Jakarta 5162.477 4593.008 12.40
Kuala Lumpur 1634.52 1692.51 -3.43
Ho Chi Minh 662.66 579.03 14.44
(Reporting by Geo Tharappel in Bengaluru; Editing by Biju