By Suhail Hassan Bhat
Feb 7 Most Southeast Asian stock markets fell on
Tuesday, in line with global equities, as lack of details on
U.S. President Donald Trump's economic policies and geopolitical
concerns in Europe dented risk appetite.
"The policies of the Trump administration and what he's
planning to do with them are still unclear. The dollar index
rallied last night, but I think we're also following U.S.
markets which went down last night," said Mikey Macanaig, an
analyst with Sunsecurities Inc.
"Then again, the protectionist stance of Trump might also
affect the market."
MSCI's broadest index of Asia-Pacific shares outside Japan
was fractionally lower, while Japan's Nikkei
closed down 0.35 percent.
European stocks declined after far-right National Front
Leader Marine Le Pen launched her bid for French presidency with
an anti-globalisation stand and intentions to take France out of
the European Union.
Meanwhile, data showed China's foreign exchange reserves
unexpectedly fell below the closely watched $3 trillion level in
January for the first time in nearly six years, creating fears
of devaluation of yuan.
Philippine shares fell 0.4 percent, underperforming
other regional markets, with industrials driving the losses. SM
Investments Corp dropped 2.2 percent.
Consumer prices hit their highest in more than two years in
January, due to higher water and energy costs among other
commodities, the statistics agency said.
Thai shares snapped two sessions of gains ahead of
the central bank's policy meeting on Wednesday, where it is
likely to leave its policy rate unchanged near record lows.
Losses were led by energy and material stocks with petroleum
products distributor RPCG Pcl losing over 3 percent in
Indorama Ventures Pcl fell over 3 percent in its
worst session in three weeks.
Indonesian shares fell 0.3 percent with
Telekomunikasi Indonesia (Persero) withering 1
Bucking the trend, Singapore shares rose 0.5 percent,
helped by financials, with Oversea-Chinese Banking Corp Ltd
touching a 1-1/2 year intraday high.
Vietnam shares rose 0.3 percent, while Malaysia
declined 0.1 percent.
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SOUTHEAST ASIAN STOCK MARKETS: Change on day
Market Current Previous Pct Move
Singapore 3071.64 3056.91 0.48
Bangkok 1582.52 1589.13 -0.42
Manila 7262.64 7294.4 -0.44
Jakarta 5381.475 5395.995 -0.27
Kuala Lumpur 1688.84 1691.24 -0.14
Ho Chi Minh 701.91 700.04 0.27
Market Current End 2016 Pct Move
Singapore 3071.64 2880.76 6.63
Bangkok 1582.52 1542.94 2.57
Manila 7262.64 6840.64 6.17
Jakarta 5381.475 5296.711 1.60
Kuala Lumpur 1688.84 1641.73 2.87
Ho Chi Minh 701.91 664.87 5.57
(Reporting by Suhail Hassan Bhat; Additional Reporting by Hanna
Paul; Editing by Subhranshu Sahu)