Reuters logo
SE Asia Stocks-Choppy; Philippine index extends losses for 3rd day
January 13, 2017 / 5:16 AM / 8 months ago

SE Asia Stocks-Choppy; Philippine index extends losses for 3rd day

By Sandhya Sampath
    Jan 13 (Reuters) - 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
Indonesia said. 
    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)
    
  STOCK MARKETS                                           
  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)

Our Standards:The Thomson Reuters Trust Principles.
0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below