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SE Asia Stocks-Most markets move sideways in low-volume trade; Singapore rises
August 24, 2017 / 4:39 AM / in 3 months

SE Asia Stocks-Most markets move sideways in low-volume trade; Singapore rises

    By Urvashi Goenka
    Aug 24 (Reuters) - Most Southeast Asian stock markets moved
sideways in low-volume trade on Thursday in the absence of
market-moving triggers, while investors remained focussed on a
meeting of central bankers in Jackson Hole later in the day.
    Asian shares edged higher, shaking off the risk aversion
that gripped financial markets overnight after U.S. President
Donald Trump said he would be willing to risk a government
shutdown to secure funding for a wall along the U.S.-Mexico
border.
    "I think that there is lack of catalysts that is moving the
markets and some investors are staying on the sidelines waiting
for some catalysts," said Edgar Lay, a junior equity analyst
with AB Capital Securities.
    Investors are keeping a close eye on the central banking
conference in Jackson Hole, Wyoming, where Federal Reserve Chair
Janet Yellen and European Central Bank President Mario Draghi
are both due to speak, although new policy messages are seen as
unlikely.
    Singapore shares rose 0.4 percent, led by financials
and industrials. United Overseas Bank rose as much as
1.5 percent, while and Jardine Matheson Holdings
gained up to 1.7 percent.
    Thai shares climbed 0.2 percent, helped by gains in 
industrials and financials. Siam Commercial Bank rose
as much as 1.4 percent, heading for a third straight session of
gains.
    Philippine shares edged up after three straight
sessions of decline, with gains in industrials offsetting losses
in telecom stocks. Ayala Land rose as much as 1
percent, while GT Capital Holdings Inc gained 3.1
percent.
    "Investors might have done some bargain hunting," said Fio
Dejesus, an equity analyst with Manila-based RCBC Securities.
    Bucking the trend, Indonesia shares fell 0.3
percent, broadly hurt by financials.
    
For Asian Companies click;  

SOUTHEAST ASIAN STOCK MARKETS: Change as 0403 GMT
     
  Change on day                                        
  Market           Current       previous     Pct Move
                                 close        
  Singapore        3271.34       3260.05      0.35
  Bangkok          1573.54       1573.38      0.01
  Manila           8003.51       7998.75      0.06
  Jakarta          5897.042      5914.024     -0.29
  Kuala Lumpur     1772.1        1772.94      -0.05
  Ho Chi Minh      766.53        765.98       0.07
                                              
  Change on year                              
  Market           Current       End prev yr  Pct Move
  Singapore        3271.34       2880.76      13.56
  Bangkok          1573.54       1542.94      1.98
  Manila           8003.51       6840.64      17.0
  Jakarta          5897.042      5296.711     11.33
  Kuala Lumpur     1772.1        1641.73      7.94
  Ho Chi Minh      766.53        664.87       15.3
 

 (Reporting by Urvashi Goenka; Editing by Subhranshu Sahu)
  

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