April 23, 2018 / 5:08 AM / 3 months ago

SE Asia Stocks-Most fall on rising U.S. yields; Singapore up

    * Rising U.S. Treasury yields scare investors
    * Financials weigh on Indonesian stocks

    By Sumeet Gaikwad
    April 23 (Reuters) - Southeast Asian stock markets were
subdued on Monday, with Vietnam and Indonesia shares declining
the most as investors exited equities after U.S. bond yields
rose to a multi-year peak.
    U.S. 10-Year treasury yields hit 2.968 percent,
their highest since January 2014, a jump widely seen as a
technical shift in the market following a large selloff of
bonds.
    MSCI's broadest index of Asia-Pacific shares outside Japan
 was down 0.3 percent.
    Indonesian shares shed 0.49 percent with financials
leading the decline. PT Bank Central Asia Tbk fell as
much as 1.2 percent while PT Bank Rakyat Indonesia (Persero) Tbk
 slipped as much as 2.2 percent.
    Indonesia's index of 45 most liquid stocks fell
0.66 percent.
    "We could argue that funds could move back to high-yeilding
assets with a relatively lower risk profile. But then again
emerging market funds sometimes have a different profile
altogether," said Fio De Jesus, an equity research analyst with
RCBC Securities in Manila.
    Malaysian stocks fell 0.28 percent weighed down by
financials and telecom stocks. Malayan Banking Bhd
dropped 0.37 percent while Axiata Group Bhd slid
nearly 1 percent    
    Vietnam's benchmark index slid as much as 0.72
percent as consumer staples dragged down the index.
    Vietnam Technological and Commercial Joint Stock Bank
(Techcombank) closed books for its $864 million-$921 million IPO
last week, the biggest in the country's history. The IPO
involved sale of 164 million shares, representing 14.1 percent
of Techcombank's equity capital.
    The Thai index was nearly flat as losses in energy
sector were levelled by gains in industrials. Thailand's
customs-cleared annual exports rose at a slower pace in March
compared with the previous month.
    Singapore index was the only gainer in the region,
rising 0.35 percent with financials leading the gains.
        
For Asian Companies click;  

SOUTHEAST ASIAN STOCK MARKETS: AS AT 0457 GMT
        
    
 STOCK MARKETS                             
 Change on day                             
 Market          Current   Previous Close  Pct Move
 Singapore       3585.97   3573.38         0.35
 Bangkok         1799.35   1801.28         -0.11
 Manila          7722.78   7726.72         -0.05
 Jakarta         6306.516  6337.695        -0.49
 Kuala Lumpur    1882.4    1887.75         -0.28
 Ho Chi Minh     1112.37   1119.86         -0.67
                                           
 Change on year                            
 Market          Current   End 2017        Pct Move
 Singapore       3585.97   3402.92         5.38
 Bangkok         1799.35   1753.71         2.60
 Manila          7722.78   8558.42         -9.76
 Jakarta         6306.516  6355.654        -0.77
 Kuala Lumpur    1882.4    1796.81         4.76
 Ho Chi Minh     1112.37   984.24          13.02
 
 (Reporting by Sumeet Gaikwad in Bengaluru; Editing by Gopakumar
Warrier)
  
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