November 29, 2017 / 10:37 AM / a year ago

SE Asia Stocks-Most down; Philippine shares fall for third straight day

    Nov 29 (Reuters) - Most Southeast Asian stock markets ended
lower on Wednesday after North Korea’s latest missile test hit
investor sentiment, while Philippine shares extended losses for
a third consecutive day as industrials and real estate stocks
    North Korea said it had successfully tested a new
intercontinental ballistic missile that landed in the waters
close to Japan, amid heightened tensions in the region.

    Philippine stocks ended the day down 0.5 percent.
Builder Ayala Land and Aboitiz Equity Ventures Inc
 led the losses, falling 2.7 percent and 4.7 percent,
    The likelihood of U.S. tax cuts hurting outsourcing
companies in the Philippines, possibly even causing job losses,
also spurred risk aversion. 
    "There is actually a risk that the KPOs (knowledge process
outsourcing companies), would be under threat from the tax. If
you would have corporate tax slashed in the U.S. then maybe some
of these processes will move back to the U.S.” said Fio Dejesus,
an analyst with RCBC Securities.
    Singapore stocks ended 0.1 percent lower after
trading in a narrow range, weighed down by real estate and
industrial stocks.
    Builder City Developments Ltd and Yangzijiang
Shipbuilding Holdings Ltd fell 2.3 and 3.8 percent,
    Indonesian stocks closed 0.2 percent lower, as
consumer staples and financials weighed on the index. An index
of the country’s 45 most liquid stocks was down half a
    Malaysian stocks closed up about 0.4 percent, helped
by gains in utilities such as Tenaga Nasional Bhd
rising 2.8 percent.
For Asian Companies click;  

 Change on the day                                  
 Market                   Current   Previous close  Pct Move
 Singapore                3438.99   3442.35         -0.10
 Bangkok                  1705.33   1706.52         -0.07
 Manila                   8254.03   8291.88         -0.46
 Jakarta                  6061.367  6070.716        -0.15
 Kuala Lumpur             1720.38   1714.42         0.35
 Ho Chi Minh              952.14    941.21          1.16
 Change so far this year                            
 Market                   Current   End 2016        Pct Move
 Singapore                3438.99   2880.76         19.38
 Bangkok                  1705.53   1542.94         10.54
 Manila                   8254.03   6840.64         20.66
 Jakarta                  6061.367  5296.711        14.44
 Kuala Lumpur             1720.38   1641.73         4.79
 Ho Chi Minh              952.14    664.87          43.21

 (Reporting by Nikhil Kurian Nainan; Editing by Vyas Mohan)
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