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SE Asia Stocks-Drift in line with broader Asia; Thailand erases early gains on weak econ data
February 20, 2017 / 5:50 AM / 10 months ago

SE Asia Stocks-Drift in line with broader Asia; Thailand erases early gains on weak econ data

    Feb 20 (Reuters) - Most Southeast Asian stock markets trod
water on Monday, in line with broader Asia, while Thailand
erased early gains to trade almost flat after the region's
second-largest economy posted a weaker-than-expected quarterly
growth.
    Thailand's SET index opened 0.2 percent higher
before erasing gains with losses centred in consumer and telecom
stocks.
    Retailer Big C Supercenter was down 1 percent,
while consumer staples heavyweight CP All Pcl was off
0.4 percent. 
    The state planning agency said gross domestic product in the
fourth quarter grew 0.4 percent from the previous three-month
period as domestic demand slowed and tourist arrival slumped.

    It left its 2017 growth forecast unchanged, at 3.0-4.0
percent, and said expanding exports plus higher crop production
and state spending will aid growth this year. But analysts are 
doubtful the growth pace can be much higher than 2016's 3.2
percent. 
    Other Southeast Asian markets mirrored Asian shares, which
moved sideways with U.S. markets closed for Presidents Day.
    MSCI's broadest index of Asia-Pacific shares outside Japan
 rose 0.74 points.
    Philippine shares, which ended the previous session
0.5 percent lower, saw broad-based gains as investors hunted for
bargains.
    Consumer cyclicals were the biggest beneficiaries with SM
Investments Corp and GT Capital Holdings
rising 1 percent and 1.4 percent, respectively.
    Indonesian shares were 0.3 percent higher, led
largely by energy and consumer cyclical stocks.
    Automotive business Astra International was 1
percent higher, while United Tractors and Adaro Energy
 added over 2 percent each.
    Malaysian stocks posted minor gains, while Singapore
 was slightly down.
    In Singapore, gains in telcos were outweighed by losses in
industrials. Jardine Matheson Holdings, the city
state's biggest industrial stock by market value, dropped 1.4
percent. 
    
For Asian Companies click;  

SOUTHEAST ASIAN STOCK MARKETS: Change at 0506 GMT    
 Market                   Current   Previous Close  Pct Move
 Singapore                3104.52   3107.65         -0.10
 Bangkok                  1576.85   1577.84         -0.06
 Manila                   7270.4    7244.79         0.35
 Jakarta                  5366.824  5350.932        0.30
 Kuala Lumpur             1711.77   1707.68         0.24
 Ho Chi Minh              706.19    707.83          -0.23
                                                    
 Change on year                                     
 Market                   Current   End 2016        Pct Move
 Singapore                3104.52   2880.76         7.77
 Bangkok                  1576.85   1542.94         2.20
 Manila                   7270.4    6840.64         6.28
 Jakarta                  5366.824  5296.711        1.32
 Kuala Lumpur             1711.77   1641.73         4.27
 Ho Chi Minh              706.19    664.87          6.20
 
 (Reporting by Rushil Dutta; Editing by Subhranshu Sahu)
  

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