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SE Asia Stocks-Lower as investors opt for safer bets; Singapore falls 1 pct
April 17, 2017 / 10:15 AM / 5 months ago

SE Asia Stocks-Lower as investors opt for safer bets; Singapore falls 1 pct

    By Rushil Dutta
    April 17 (Reuters) - Most Southeast Asian stock markets
ended lower on Monday as concerns over overseas geopolitical
risks drove investors to safer assets, with Singapore dropping 1
percent.
    Already bruised by worries over North Korea and upcoming
French elections, global investor sentiment took a further hit
on weak U.S. economic data.
    Though a raft of Chinese economic data earlier in the day
beat market expectations, they failed to enthuse investors who
had already been optimistic following a recent string of
positive numbers out of the country.
    Similarly, strong March export figures from Singapore did
little to lift the dour mood following the central bank's
cautionary tone last week.
    Singapore fell nearly 1 percent to its lowest since
end-March, led by losses in the industrials and financial
sectors.
    The city-state's biggest banks, DBS Group Holdings
and United Overseas Bank, lost about 1 percent each.
    Palm oil plantation firm Golden Agri-Resources was
the biggest loser on the index.
    Thai shares ended 0.9 percent lower, dragged by
energy and industrials stocks.
    "Institutional investors, who play a major role in the Thai
stock market, have turned out to be net buyers, but I think a
lot of concern from the external front pressures the buying
spree," said Teerada Charnyingyong, strategist at Phillip
Securities.
    The Philippine main index fell 0.5 percent after
having gained 0.6 percent last week, its third straight weekly
gain on the back of strong net foreign inflows.
    Analysts said the spell of recent gains had led to
profit-booking.
    Megaworld Corp, which was one of the biggest
gainers last week, was among the worst performers on the index.
    Vietnam shares ended more than 1 percent lower, while
Indonesia shares fell 0.7 percent. Malaysia was the sole
gainer, with a marginal 0.2 percent rise.

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 SOUTHEAST ASIAN STOCK MARKETS
 Change on day                                      
 Market                   Current   Previous Close  Pct Move
 Singapore                3138.3    3169.24         -0.98
 Bangkok                  1575.91   1589.5          -0.85
 Manila                   7588.53   7629.64         -0.54
 Jakarta                  5577.487  5616.545        -0.70
 Kuala Lumpur             1733.93   1730.99         0.17
 Ho Chi Minh              710.83    718.45          -1.06
                                                    
 Change on year                                     
 Market                   Current   End 2016        Pct Move
 Singapore                3138.3    2880.76         8.94
 Bangkok                  1575.91   1542.94         2.14
 Manila                   7588.53   6840.64         10.90
 Jakarta                  5577.487  5296.711        5.30
 Kuala Lumpur             1733.93   1641.73         5.62
 Ho Chi Minh              710.83    664.87          6.90 
 
 (Reporting by Rushil Dutta; Editing by Amrutha Gayathri)
  

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