US STOCKS SNAPSHOT-Wall St ends little changed ahead of holiday
NEW YORK, May 26 U.S. stocks ended little changed on Friday ahead of a holiday weekend, though major indexes snapped a two-week streak of losses.
By Susan Mathew Feb 23 Southeast Asian stock markets, except Singapore, moved sideways on a lack of firm cues after minutes of a U.S. Federal Reserve meeting showed it would wait for jobs and inflation data to meet expectations to decide on the timing of its next rate increase. The minutes of the Jan. 31-Feb. 1 policy discussion, at which the U.S. central bank voted to keep rates unchanged, also showed the depth of uncertainty at the Fed because of a lack of clarity on President Donald Trump's economic program. 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." Singapore shares hit fresh 18-month highs on Thursday, led by oil and gas stocks and financials. Keppel Corp rose 3.3 percent, while Sembcorp Industries Ltd added 5 percent as global oil prices rose after U.S. data showed a surprise decline in inventories. Also, data on Thursday showed the city-state's rate of inflation rose at its fastest pace in two years in January. The momentum in consumer prices, combined with stronger-than-expected economic growth at the end of 2016 and the government's generous budget for the coming year will take near-term monetary policy easing off the table, analysts said. Philippine stocks closed at their highest in more than three weeks, as energy and telecom stocks climbed. Semirara Mining and Globe Telecom rose more than 2.5 percent each. Thai shares lost 0.3 percent, as consumer non-cyclicals and energy stocks fell. PTT Exploration and Production PCL lost 2 percent, while Charoen Pokphand Foods PCL shed nearly 1 percent. Indonesia made small gains, while Vietnam lost marginally. Malaysia fell about 0.2 percent, dragged down by Axiata Group Bhd, which lost 5.6 percent after fourth quarter net profit declined 34 percent. For Asian Companies click; SOUTHEAST ASIAN STOCK MARKETS: CHANGE ON DAY Market Current Previous Close Pct Move Singapore 3137.57 3122.2 0.49 Bangkok 1567.32 1572.04 -0.30 Manila 7335.56 7304.45 0.43 Jakarta 5372.748 5358.683 0.26 Kuala Lumpur 1704.48 1708.08 -0.21 Ho Chi Minh 716.87 717.24 -0.05 Change on year Market Current End 2016 Pct Move Singapore 3137.57 2880.76 8.91 Bangkok 1567.32 1542.94 1.58 Manila 7335.56 6840.64 7.2 Jakarta 5372.748 5296.711 1.44 Kuala Lumpur 1704.48 1641.73 3.82 Ho Chi Minh 716.87 644.87 11.2 (Reporting by Susan Mathewin Bengaluru; Editing by Biju Dwarakanath)
* Dow flat, S&P up 0.02 pct, Nasdaq up 0.03 pct (Updates to late afternoon)