By Shashwat Pradhan
Dec 23 Most Southeast Asian stock markets fell
in thin trade on Friday as Wall Street took a breather from its
relentless rise since the U.S. presidential election on the back
of declines in retail stocks.
U.S. equities posted their first back-to-back daily declines
of the month in light trading as investors took time out ahead
of the Christmas weekend.
Retail stocks on Wall Street fell after CNN reported
President-elect Donald Trump's transition team is considering a
tariff of as much as 10 percent on imports. The S&P 500 consumer
discretionary index lost 1.01 percent, its biggest
single-day decline since October.
Declines in Wall Street are probably affecting the markets,
said Mikey Macainag, an analyst with Manila-based Sunsecurities
"Dow Jones right now is nearing the 20,000 resistance. I
think it is going to take a while before they break 20,000. That
is why it is correcting."
Oil prices slipped on Friday, wiping out some of the gains
in the previous session, as traders took profits. A stronger
dollar also weighed on sentiment.
Philippine shares fell as much as 0.9 percent to a
more than 10-month low, dragged down by industrials and
financials, and were headed for their biggest weekly loss since
January. Conglomerate LT Group was among the biggest
percentage losers, falling 3 percent.
Volumes were around 20 percent of the 30-day average ahead
of the Christmas weekend.
Vietnam shares edged down with consumer stocks
accounting for nearly half of the fall.
Robusta coffee futures fell again on Thursday, although
supply remained tight as rains in Vietnam, the top robusta
producer, disrupted harvesting and affected bean
Singapore stocks were on track for a fifth straight
session of declines, pulled down by financials, and were headed
for their biggest weekly fall since July.
The city-state's big three banks, DBS Holdings
United Overseas Bank Ltd and Oversea-Chinese Banking
Corp, posted mild losses.
Bucking the trend, Jakarta was up after eight
straight sessions of losses, boosted by financial stocks. PT
Bank OCBC NISP jumped 25 percent to hit a record high.
The index was headed for its biggest weekly loss since
For Asian Companies click;
SOUTHEAST ASIAN STOCK MARKETS: Change at 0400 GMT
Market Current previous close Pct Move
Singapore 2871.17 2882.04 -0.38
Bangkok 1503.21 1504.12 -0.06
Manila 6533.92 6587.17 -0.81
Jakarta 5061.187 5042.87 0.36
Kuala Lumpur 1619.58 1623.2 -0.22
Ho Chi Minh 660.07 664.15 -0.61
Change so far
Market Current End prev yr Pct Move
Singapore 2871.17 2882.73 -0.40
Bangkok 1503.21 1288.02 16.71
Manila 6533.92 6952.08 -6.01
Jakarta 5061.187 4593.008 10.19
Kuala Lumpur 1619.58 1692.51 -4.31
Ho Chi Minh 660.07 579.03 14.00
(Reporting by Shashwat Pradhan; Additional Reporting by Anusha
Ravindranath in Bengaluru; Editing by Subhranshu Sahu)