September 19, 2017 / 4:22 AM / in a month

SE Asia Stocks-Fall ahead of Fed meet; Philippines down 1 pct

    By Binisha Ben
    Sept 19 (Reuters) - Southeast Asian stock markets fell on
Tuesday, tracking broader Asia, as investors awaited the outcome
of the Federal Reserve meeting for clues on U.S. monetary
policy, while Philippine shares retreated 1 percent from a
record close.
    The Fed is expected to take another step toward policy
normalization at a two-day meeting beginning later on Tuesday,
and announce plans to begin unwinding its $4.2 trillion
portfolio of Treasuries and mortgage-backed securities.

    The U.S. central bank is expected to hold interest rates
steady, but investors will be looking for clues on the pace of
further tightening later this year and next. The market is
pricing in an approximately even chance of a hike in December.
     MSCI's broadest index of Asia-Pacific shares outside Japan
 fell 0.1 percent.
     Philippine shares were weighed down by industrials
and real estate stocks such as SM Investments and Ayala
Land, which gave up 1.6 percent and 1.2 percent,
respectively.
    "The stocks that pushed up the index yesterday are seeing a
bit of correction today, they are subject to profit-taking
because the prices are going down," said Fio de Jesus, research
analyst at RCBC Securities.
    Singapore shares dropped as much as 0.3 percent as
financials and industrials declined.
    Jardine Matheson Holdings fell 1 percent and
Oversea-Chinese Banking Corp shed 0.6 percent. 
    Thai shares also fell 0.3 percent, having closed its
previous session at a near 24-year high, with Airports of
Thailand declining 1.3 percent and Siam Commercial Bank
 falling about 1 percent.

    For Asian Companies click;  

SOUTHEAST ASIAN STOCK MARKETS:  Change at 0357 GMT 
   
  Market           Current       Previous     Pct Move
                                 Close        
  Singapore        3231.59       3241.85      -0.32
  Bangkok          1665.57       1670.2       -0.28
  Manila           8216.14       8294.14      -0.94
  Jakarta          5880.976      5884.611     -0.06
  Kuala Lumpur     1781.31       1783.66      -0.13
  Ho Chi Minh      807.32        807.87       -0.07
                                              
  Change on year                              
  Market           Current       End 2016     Pct Move
  Singapore        3231.59       2880.76      12.18
  Bangkok          1665.57       1542.94      7.95
  Manila           8216.14       6840.64      20.11
  Jakarta          5880.976      5296.711     11.03
  Kuala Lumpur     1781.31       1641.73      8.50
  Ho Chi Minh      807.32        664.87       21.43
 

 (Reporting by Binisha Ben in Bengaluru; Editing by Amrutha
Gayathri)
  

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