Reuters logo
SE Asia Stocks-Gain as investors look past Fed
June 19, 2017 / 5:57 AM / in 6 months

SE Asia Stocks-Gain as investors look past Fed

    By Nicole Pinto
    June 19 (Reuters) - Most Southeast Asian stock markets rose
on Monday, in line with broader Asia, underpinned by improved
risk sentiment as investors shifted focus away from the U.S.
Federal Reserve after an interest rate increase last week.
    However, markets also positioned themselves for the UK's
negotiations to exit the European Union, set to start in
Brussels on Monday.
    "I think risk-on bias is coming back from the precipitation
of central bank events," said Taye Shim, head of research at
Jakarta-based Mirae Asset Sekuritas. 
    "(Major) central bank events are over, and ECB (European
Central Bank) and Federal Reserve did not provide much of a
surprise to the market, which was actually a relief. The ECB and
Federal Reserve's forward looking guidance was in line with
expectations." 
    Philippine shares led the gainers in the region,
rising 0.6 percent, lifted by the industrial sector. 
    "(Rise in Philippine shares) are more in anticipation of the
tax reform measures. Much sooner than that is the state of the
nation address coming up mid-July, and then Congress will open
and hopefully will immediately pass the tax reform measures,"
said Joseph Roxas, an analyst with Manila-based Eagle Equities.
    The Philippines' lower house of Congress passed the
much-anticipated tax reform bill on May 31, aimed at generating
revenue to fund a multi-billion dollar infrastructure program
that is key to the government's economic agenda.   
    Singapore shares edged up 0.3 percent, with
financials making up nearly half of the gains on the index. 
    Index heavyweights United Overseas Bank and DBS
Group Holdings gained 0.9 and 0.6 percent, respectively.     
    Thai shares rose 0.3 percent, with Airports of
Thailand hitting a record high.
    Indonesian shares edged up 0.2 percent, with media
company Elang Mahkota Teknologi gaining 18.5 percent. 
    Meanwhile, Malaysian shares fell 0.2 percent, with
telecommunication company Digi.com falling 0.8 percent
and casino operator Genting Bhd down 0.7 percent.    
    
For Asian Companies click;  

SOUTHEAST ASIAN STOCK MARKETS; Change at 0457 GMT
  STOCK MARKETS                                        
  Change on the                                        
 day                                          
  Market           Current       previous     Pct Move
                                 close        
  Singapore        3242.35       3231.44      0.34
  Bangkok          1581.8        1576.58      0.33
  Manila           7926.51       7882.22      0.56
  Jakarta          5734.978      5723.636     0.20
  Kuala Lumpur     1787.62       1791.31      -0.21
 Ho Chi Minh       763.45        761.24       0.29
                                              
  Change so far                               
 this year                                    
  Market           Current       End 2016     Pct Move
  Singapore        3242.35       2880.76      12.55
  Bangkok          1581.8        1542.94      2.52
  Manila           7926.51       6840.64      15.87
  Jakarta          5734.978      5296.711     8.27
  Kuala Lumpur     1787.62       1641.73      8.89
 Ho Chi Minh       763.45        664.87       14.83
 


 (Reporting by Nicole Pinto in Bengaluru; Editing by Amrutha
Gayathri)
  

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