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SE Asia Stocks-Sluggish after Yellen comments
October 17, 2016 / 5:26 AM / a year ago

SE Asia Stocks-Sluggish after Yellen comments

Oct 17 (Reuters) - Southeast Asian stock markets were
sluggish on Monday, in line with broader Asia as investors
digested comments by U.S. Federal Reserve Chair Janet Yellen.
    Yellen said on Friday the Fed may need to run a
"high-pressure" economy in order to reverse damage from the
global financial crisis that depressed output. 
    Her remarks, however, did not address immediate policy
concerns directly and didn't change prevailing views that the
Fed is likely to raise interest rates in December.
    MSCI's broadest index of Asia-Pacific shares outside Japan
 dropped 0.4 percent.
    Thai stocks were marginally higher after losing as
much as 1 percent in early trade. The index declined 1.8 percent
last week on concerns about King Bhumibol Adulyadej's health.
The king passed away on Thursday. 
    Foreigners were net sellers in the previous four sessions.
    They also cut their holdings in Thai bonds during the period
and became net buyers as of early Monday, according to data from
the Thai Bond Market Association.
    Financials and industrials fell the most, with Kasikornbank
Pcl losing 4.8 percent on weaker loan growth target
for 2017.  
    Singapore shares fell as much as 0.8 percent in
early trade after data showed September exports declined less
than expected, though a grim outlook for the economy prevailed.
    Losses were driven by financials and industrials, the
biggest sectors on the main index. 
    Realtors CapitaLand Commercial Trust and UOL Ltd
 were among the biggest losers.
    Philippine stocks rose 0.3 percent, heading for a
second consecutive session of gains, with telecoms and
industrials providing support.
    Globe Telecom and Ayala Corp were among the
biggest gainers, rising 2.4 percent and 1.8 percent
    Malaysian and Vietnamese shares posted minor
losses, while Indonesian shares recorded paltry gains as
investors shrugged off trade data that showed exports and
imports contracted on a yearly basis in September against
expectations for import growth. 
For Asian Companies click;  

  STOCK MARKETS                                 
  Change at                                     
 0451 GMT                               
  Market         Current     Previous   Pct Move
  Singapore      2812.48     2815.24    -0.10
  Bangkok        1478.94     1477.61    0.09
  Manila         7413.62     7389.3     0.33
  Jakarta        5420.55     5399.885   0.38
  Kuala Lumpur   1657.8      1658.97    -0.07
 Ho Chi Minh     685.02      687        -0.29
  Change on                             
  Market         Current     End 2015   Pct Move
  Singapore      2812.48     2882.73    -2.44
  Bangkok        1478.94     1288.02    14.82
  Manila         7413.62     6952.08    6.64
  Jakarta        5420.55     4593.008   18.02
  Kuala Lumpur   1657.8      1692.51    -2.05
 Ho Chi Minh     685.02      579.03     18.30

 (Reporting by Rushil Dutta in Bengaluru; Additional reporting
by Jong Woo Cheon in Singapore; Editing by Subhranshu Sahu)

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