By Sandhya Sampath
Jan 13 Southeast Asian stock markets, except
Singapore, were subdued in thin trade on Friday as investors
paused to reflect on U.S. President-elect Donald Trump's failure
to elaborate on stimulus plans in his first news conference
since his election victory.
In Asia, shares dipped and the dollar was poised for a
losing week after hitting a five-week low in the previous
session, while overnight on Wall Street major indexes finished
lower as investors weighed whether Trump would stress
growth-boosting steps when he takes office.
MSCI's broadest index of Asia-Pacific shares outside Japan
was down 0.2 percent after rising to its highest
levels since late October in the previous session.
"Markets are pretty choppy because there is still
uncertainty related to how Trump is going to manoeuvre his
economic policies," Taye Shim, research head at KDB Daewoo
Investors also shrugged off China trade data that showed
imports beating forecasts slightly on strong demand for
commodities, while exports fell more-than-expected.
China, the world's largest trading nation, could be heavily
exposed to protectionist measures this year if Trump follows
through on campaign pledges to brand it a currency manipulator
and impose heavy tariffs on imports of Chinese goods.
In Southeast Asia, the Philippine index dipped 0.3
percent, extending losses to a third straight session, dragged
down by financials and telecom services.
Property developer SM Prime Holdings Inc was down
as much as 2 percent, while telecom services provider PLDT Inc
fell as much as 2.5 percent.
Malaysia fell 0.2 percent, snapping three sessions
of gains, led lower by consumer staples and utilities.
British American Tobacco Malaysia Bhd, the biggest
drag on the index, lost as much as 4.8 percent, while
infrastructure conglomerate YTL Corporation Bhd fell
as much as 1.3 percent.
Bucking the trend, Singapore gained 0.6 pct, aided by
financials and industrials.
DBS Group Holdings Ltd rose as much as 0.8
percent, while industrial conglomerate Jardine Matheson Holdings
Ltd climbed as much as 1.7 percent.
"Singapore is just following the trend of some Asian markets
like Hong Kong and Japan," said Manny Cruz, an analyst with
Manila-based Asiasec Equities Inc.
Hong Kong's Hang Seng index was up 0.4 percent, while
Japan's Nikkei index was trading 0.7 percent higher as
of 0505 GMT.
For Asian Companies click;
SOUTHEAST ASIAN STOCK MARKETS (Change at 0420 GMT)
Market Current Previous close Pct Move
Singapore 3009.4 2993 0.55
Bangkok 1570.06 1568.84 0.08
Manila 7241.17 7264.55 -0.32
Jakarta 5298.074 5292.75 0.10
Kuala Lumpur 1674.99 1677.76 -0.17
Ho Chi Minh 687.08 686.96 0.02
Change this year
Market Current End 2016 Pct Move
Singapore 3009.4 2880.76 4.47
Bangkok 1570.06 1542.94 1.76
Manila 7241.17 6840.64 5.9
Jakarta 5298.074 5296.711 0.03
Kuala Lumpur 1674.99 1641.73 2.03
Ho Chi Minh 687.08 664.87 3.3
(Reporting by Sandhya Sampath; Additional reporting by Susan
Mathew; Editing by Biju Dwarakanath)