April 27, 2017 / 4:38 AM / 5 months ago

SE Asia Stocks-Largely down in line with Asian peers

    By Susan Mathew
    April 27 (Reuters) - Most Southeast Asian stock markets fell
on Thursday, tracking Asian peers as a long-awaited U.S. tax cut
plan failed to inspire investors, though sentiment remained
supported by global growth prospects and receding worries about
political risks in Europe.
    MSCI's broadest index of Asia-Pacific shares outside Japan
 was down 0.2 percent after hitting its highest
since June 2015 on Wednesday.
    U.S. President Donald Trump's much awaited tax cut package
fell far short of the kind of comprehensive tax reform that both
parties in Washington have sought for years and left investors
unimpressed as the plan did not cover the funding of tax cuts.

    Meanwhile, Bank of Japan kept monetary policy steady on
Thursday and offered a more upbeat view of the economy than last
month, but cut its inflation forecast for this fiscal year in a
quarterly review of its projections.
    In Southeast Asia, Philippine shares were down 0.6
percent, heading for their first fall in six sessions. Telecom
stocks PLDT Inc and Globe Telecom declined 1.6
percent and 3.4 percent, respectively.
    "It is largely profit-taking," said Jeremy Yumul, an analyst
with RCBC Securities.
    Globe Telecom was the biggest percentage loser on the
benchmark stock index.
    Indonesian shares fell as much as 0.5 percent after
having hit an all-time high in the previous session, and were
headed for their first decline in four sessions.
    Financials were the biggest losers with Bank Central Asia
, the region's biggest two banks by
market-capitalization, and Bank Rakyat Indonesia
shedding 2.8 percent and 1.5 percent, respectively.
    An Index of Indonesia's 45 most liquid stocks was
0.7 percent lower.
    Malaysian shares, which have recently been hitting
new multi-year highs, opened at their highest since May 2015,
before reversing their course to trade marginally lower.
    Palm cultivator IOI Corp Bhd fell 0.2 percent,
while leisure and entertainment company Genting Bhd
shed 1.4 percent.
    Bucking the trend, Vietnam shares rose 0.7 percent.

    For Asian Companies click;  

SOUTHEAST ASIAN STOCK MARKETS: CHANGE AT 0352GMT    
  Market            Current       Previous Close  Pct Move
  Singapore         3169.97       3173.76         -0.12
  Bangkok           1566.28       1567.47         -0.08
  Manila            7676.97       7726.45         -0.64
  Jakarta           5702.68       5726.53         -0.42
  Kuala Lumpur      1767.65       1768.92         -0.07
  Ho Chi Minh       715.04        710.04          0.70
                                                  
  Change on year                                  
  Market            Current       End 2016        Pct Move
  Singapore         3169.97       2880.76         10.04
  Bangkok           1566.28       1542.94         1.51
  Manila            7676.97       6840.64         12.2
  Jakarta           5702.68       5296.711        7.66
  Kuala Lumpur      1767.65       1641.73         7.67
  Ho Chi Minh       715.04        664.87          7.5
 
 (Reporting by Susan Mathew in Bengaluru; additional reporting
by Krishna Kurup; Editing by Subhranshu Sahu)
  

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