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SE Asia Stocks-Most gain ahead of Fed minutes; S'pore up over one pct
July 5, 2017 / 10:33 AM / 5 months ago

SE Asia Stocks-Most gain ahead of Fed minutes; S'pore up over one pct

    By Chandini Monnappa
    July 5 (Reuters) - Most Southeast Asian stock markets ended
higher on Wednesday with Singapore gaining more than one
percent while investors awaited minutes of the U.S. Federal
Reserve's last meeting, moving past tensions over North Korea.
    Investors around the globe are awaiting minutes of the Fed's
June meeting to gauge how committed it was to hiking rates again
this year and for any details on plans to wind back its massive
balance sheet.
    "The apprehensions over the geopolitical tension created by
the launch of ICBMs from North Korea have started to disappear
and investors are focussing on the fundamentals of local
equities." said Manny Cruz, an analyst with Manila-based Asiasec
Equities Inc.
    "Yen has started to weaken, which means that funds which
shifted to safe haven assets have started to go back to regional
equities."
    Markets also shrugged off data from a private business
survey that showed China's services sector grew at a slower pace
in June as new orders slumped, pointing to a softening outlook
for the economy.
    Singapore shares closed over one percent higher with
financials accounting for more than half of the gains.
    Vietnam's benchmark index closed the day 0.4 percent
higher, aided by utilities and financials. Petrovietnam Gas
Joint Stock Corp rose 1.9 percent to end at a
four-month high.
    Philippine shares ended 0.2 percent higher lifted by
industrial stocks such as LT Group Inc, up 1.3 percent.
    The Philippines' annual inflation eased for a second
straight month in June due to slower price increases in food and
transport, data from the statistics agency showed on
Wednesday
    Thai shares were flat as gains in industrials were
offset by losses in the energy sector.
     The Bank of Thailand (BOT)'s Monetary Policy Committee
voted unanimously to keep the one-day repurchase rate
 at 1.50 percent, a quarter-point above the record
low.
    Indonesia dropped 0.7 percent with financials
dragging the index. 
    Radana Bhaskara Finance Tbk slipped 13.7 percent,
posting its fifth straight session of declines while synthetic
fibre manufacturer Panasia Indo Resources Tbk PT slid
as much as 24.6 percent before paring some of the losses.

    
For Asian Companies click;  

SOUTHEAST ASIAN STOCK MARKETS: Change at 0940 GMT
  Change on the day                                           
  Market             Current     Previous Close       Pct Move
  Singapore          3248.71     3211.17              1.17
  Bangkok            1575.02     1574.11              0.06
  Manila             7848.84     7833.96              0.19
  Jakarta            5825.054    5865.364             -0.69
  Kuala Lumpur       1768.16     1762.08              0.35
  Ho Chi Minh        778.32      775.54               0.36
                                                      
  Change on year                                      
  Market             Current     End 2016             Pct Move
  Singapore          3248.71     2880.76              12.77
  Bangkok            1575.02     1542.94              2.08
  Manila             7848.84     6840.64              14.74
  Jakarta            5825.054    5296.711             9.97
  Kuala Lumpur       1768.16     1641.73              7.70
  Ho Chi Minh        778.32      664.87               17.06
 


 (Reporting by Chandini Monnappa; Editing by Vyas Mohan)
  

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