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6 months ago
SE Asia Stocks-Largely flat; Fed wary on U.S. policy uncertainty
February 23, 2017 / 4:51 AM / 6 months ago

SE Asia Stocks-Largely flat; Fed wary on U.S. policy uncertainty

    By Susan Mathew
    Feb 23 (Reuters) - Southeast Asian stock markets were
largely flat in lacklustre trading on Thursday after the U.S.
Federal Reserve indicated willingness to raise interest rates,
but cautioned about a lack of clarity on the Trump
administration's economic policies.
     The Fed's January meeting minutes said that it may be
appropriate to raise rates again "fairly soon" should jobs and
inflation data be in line with expectations, but it also
reflected the depth of uncertainty at the Fed over economic
risks from President Donald Trump's plans.
    Investors are cautious about the "global uncertainties
related to Trump's economic policies as well as the interest
rate direction of the Federal Reserve, which was actually a
non-event," said Taye Shim, head of research at Mirae Asset
Sekuritas.
    "So most of the investors within the emerging markets are
pretty much on the sidelines."
    Thai shares fell the most in the region, down 0.4
percent, with energy and financial sectors dragging down the
index. 
    Lenders Siam Commercial Bank and Kasikornbank PCL
 fell 0.7 percent and 0.8 percent, respectively.
    Among energy stocks, PTT Pcl lost 1 percent, while
and PTT Exploration shed nearly 2 percent.
    Singapore stocks were mostly steady ahead of the consumer
price inflation data for January due later in the day.
    Singapore's consumer price index for January is expected to
have risen at the fastest pace in more than two years to 0.6
percent from a year earlier, buoyed by higher fuel prices and
private transport costs, a Reuters poll showed.
    Agribusiness company Wilmar International was
among the losers, falling 2.4 percent for a fourth straight
session to its lowest in more than a month.
    Philippine shares rose 0.2 percent for a second
straight day, hitting its highest in over three weeks.
    Energy and utility stocks lent support to the index, with
Semirara Mining and Power Corp climbing 2.6 percent and
Manila Electric Co rising 1.4 percent.

For Asian Companies click;  

SOUTHEAST ASIAN STOCK MARKETS: CHANGE AT 0414 GMT
    
  Market            Current        Previous Close  Pct Move
  Singapore         3121.31        3122.2          -0.03
  Bangkok           1566.47        1572.04         -0.35
  Manila            7319.01        7304.45         0.20
  Jakarta           5365.552       5358.683        0.13
  Kuala Lumpur      1707.67        1708.08         -0.02
  Ho Chi Minh       716.93         717.24          -0.04
                                                   
  Change on year                                   
  Market            Current        End 2016        Pct Move
  Singapore         3121.31        2880.76         8.35
  Bangkok           1566.47        1542.94         1.53
  Manila            7319.01        6840.64         7.00
  Jakarta           5365.552       5296.711        1.30
  Kuala Lumpur      1707.67        1641.73         4.02
  Ho Chi Minh       716.93         644.87          11.2
 
 (Reporting by Susan Mathew in Bengaluru; additional reporting
by Christina Martin; Editing by Amrutha Gayathri)
  

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