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SE Asia Stocks-Lower as risky assets fall out of favour
April 19, 2017 / 10:10 AM / 8 months ago

SE Asia Stocks-Lower as risky assets fall out of favour

    By Rushil Dutta
    April 19 (Reuters) - Most Southeast Asian stock markets
ended lower on Wednesday as investors fled to safer assets ahead
of the French presidential election.
    France's presidential election is closely watched as the
stakes for investors are high, with two anti-EU, anti-euro
candidates among the four seen still in contention to make it to
a second round two weeks after Sunday's ballot.

    Meanwhile, British Prime Minister Theresa May calling for
early general elections ahead of negotiations to leave the EU
added to the general sense of wariness.
    "I think there is risk-off sentiment in the markets right
now following last night's surprise announcement regarding the
snap elections in the UK," said Victor Felix, an equity analyst
with AB Capital Securities.
    "There is also a lot of uncertainty ahead of the first round
of French elections."
    Asian stocks excluding Japan hit their
lowest since mid-March.
    Philippine shares lost 0.9 percent as telecom,
consumer and energy stocks declines, with telecom giant PLDT Inc
 the biggest loser on the benchmark.
    Singapore shares trimmed some earlier losses to end
0.4 percent lower as weakness in oil continued to plague energy
    Keppel Corp and Sembcorp Industries were
among the index's biggest losers, down 2.6 percent and about 2
percent, respectively.
    Malaysian shares were largely unaffected by
inflation data released earlier showing consumer price inflation
hit an eight-year high in March, albeit slightly below a
forecast in a Reuters poll.
    As an exception, Vietnam shares gained.
    Indonesian stock markets were closed as Jakarta
holds the second round of gubernatorial elections with the
incumbent Christian governor, Basuki "Ahok" Tjahaja Purnama, and
his Muslim opponent neck and neck in the race to lead
Indonesia's capital.
    A quick sample count of over half the vote by Indikator
Politik showed Anies Baswedan was ahead with 58 percent of the
votes versus 42 percent for Purnama.
    The election campaign - which has been among the most
divisive in the city's history - has been marred by religious
and ethnic tension over the blasphemy trial of Purnama, who is
accused of insulting Islam.

    For Asian Companies click;  

 Change on day                                      
 Market                   Current   Previous Close  Pct Move
 Singapore                3126.28   3137.54         -0.36
 Bangkok                  1567.19   1574.42         -0.46
 Manila                   7522.98   7588.98         -0.87
 Kuala Lumpur             1738.95   1740.6          -0.09
 Ho Chi Minh              716.77    714.93          0.26
 Change on year                                     
 Market                   Current   End 2016        Pct Move
 Singapore                3126.28   2880.76         8.52
 Bangkok                  1567.19   1542.94         1.57
 Manila                   7522.98   6840.64         10.00
 Kuala Lumpur             1738.95   1641.73         5.92
 Ho Chi Minh              716.77    664.87          7.80
 (Reporting by Rushil Dutta; Additional reporting by Anusha
Ravindranath in Bengaluru; Editing by Amrutha Gayathri)

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