Reuters logo
SE Asia Stocks-Sluggish on lack of global cues; Vietnam, Indonesia up
February 21, 2017 / 5:19 AM / 7 months ago

SE Asia Stocks-Sluggish on lack of global cues; Vietnam, Indonesia up

    By Christina Martin
    Feb 21 (Reuters) - Southeast Asian stock markets, except
Vietnam and Indonesia, were tepid on Tuesday tracking Asian
markets which were steady on a lack of global cues, with U.S.
markets closed for the Presidents Day holiday on Monday.
    Asian stocks held below 19-month peaks hit last week though
Chinese equities surged to a fresh two-month high as domestic
funds piled into financial counters on expectations the world's
second biggest economy may have turned a corner.
    MSCI's broadest index of Asia-Pacific shares outside Japan
 was up 0.1 percent as of 0505 GMT.
    Singapore's FTSE Straits Times Index was down as much
as 0.3 percent, pulled lower by financials and consumer staples.
    DBS Group and Oversea-Chinese Banking Corporation 
 lost 0.5 percent and 0.3 percent, respectively.
    Golden Agri-Resources Ltd, the biggest loser on
the index, fell to a nearly five-week low.  
    "We see the market being weighed down by lower bank prices.
Banks had a huge rally and I think we are seeing a little
profit-taking down there," said Nicholas Teo, trading strategist
at KGI Securities (Singapore) Pte Ltd.
    "(Financials) have rallied the most in the last two-three
months and for that to continue to move up, something special
needed to happen and that didn't come; so the market is waiting
for a catalyst."
    Philippine shares slipped as much as 0.3 percent,
with financial and industrial stocks leading the losers.
    "We have been trading sideways and there is no direction.
Investors are waiting for either a catalyst or a Black Swan
event for a significant move up or down," said Victor Felix,
equity analyst at Manila-based AB Capital Securities.
    BDO Unibank fell as much as 2.1 percent, its
biggest intraday percentage fall in almost three weeks.
    Ayala Corp fell 0.6 percent, while property and
retail services business SM Investments Corp dropped 0.4
percent. 
    The Thai index was off 0.2 percent, while Malaysian
shares fell marginally hurt by consumer staples and
basic material stocks.
    Bucking the trend, the Vietnam index rose 0.6
percent, its biggest intraday percentage gain in more than four
weeks, while Indonesia edged up 0.2 percent. 

    
For Asian Companies click; 
     
    SOUTHEAST ASIAN STOCK MARKETS: Change at 0446 GMT
  Change on day                                          
  Market          Current       Previous Close  Pct Move
  Singapore       3092.94       3096.69         -0.12
  Bangkok         1574.81       1578.47         -0.23
  Manila          7261.99       7281.19         -0.26
  Jakarta         5368.845      5359.288        0.18
  Kuala Lumpur    1708.6        1712.58         -0.23
  Ho Chi Minh     714.88        710.59          0.60
                                                
  Change on year                                
  Market          Current       End 2016        Pct Move
  Singapore       3092.94       2880.76         7.37
  Bangkok         1574.81       1542.94         2.07
  Manila          7261.99       6840.64         6.16
  Jakarta         5368.845      5296.711        1.36
  Kuala Lumpur    1708.6        1641.73         4.07
  Ho Chi Minh     714.88        664.87          7.52
 
    

 (Reporting by Christina Martin; 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