May 30, 2017 / 10:20 AM / 2 months ago

SE Asia Stocks-Most end lower; Singapore at 1-mth closing low

4 Min Read

    By Chris Thomas
    May 30 (Reuters) - Most Southeast Asian stock markets
finished lower on Tuesday, in line with broader Asia, for lack
of cues, with several major markets closed for holidays. 
    Concerns about a Greek bailout, early Italian elections and
comments by the European Central Bank chief about the need for
continued stimulus sapped risk appetite and weighed on Asian
stocks.
    MSCI's broadest index of Asia-Pacific shares outside Japan
 fell 0.1 percent. 
    "Starting tomorrow, markets may be more active because we're
going to see major economic data," said Rakpong Chaisuparakul, a
strategist with KGI Securities (Thailand), referring to  
China's factory activity data, due on Wednesday.
    In addition, Thailand will release April trade data, which
will help predict second quarter economic growth, Rakpong said. 
    Thailand's customs-cleared exports are expected to have
risen for a second straight month in April from a year earlier,
a Reuters poll found.
    Singapore shares extended losses into a third
session, hitting its lowest close since May 1.
    "We had some geopolitical concerns rearing its head in the
Asian morning," said Emmanuel Ng, a strategist at OCBC,
Singapore. "Also, net bond and equity inflows into the region
are experiencing a little bit of a slowdown in recent sessions."
    The city-state's top financial stocks took a dive, with
United Overseas Bank (UOB) and DBS Group Holdings
 falling as much as 1.5 percent each, while
Oversea-Chinese Banking Corp dropped 1.1 percent.
    Singapore's central bank has fined UOB for breaches of
anti-money laundering rules for transactions related to
Malaysia's scandal-ridden state fund 1MDB.
    Philippine shares closed at its lowest in nearly a
week, pulled down by real estate stocks.
    Ayala Land fell as much as 1.4 percent, while SM
Prime Holdings slid 0.5 percent after hitting a record
high in the previous session.
    Vietnam fell as much as 1.1 percent, its biggest drop
in more than six weeks. Vinamilk, the country's largest
dairy company, was the biggest drag on the index, falling as
much as 1.6 percent.    
    
For Asian Companies click;  

SOUTHEAST ASIAN STOCK MARKETS: Change on day
    
  Market          Current      Previous Close   Pct Move
  Singapore       3204.79      3214.55          -0.30
  Bangkok         1568.57      1568.17          0.03
  Manila          7860.77      7886.03          -0.32
  Jakarta         5693.391     5712.331         -0.33
  Kuala Lumpur    1765.34      1764.89          0.03
  Ho Chi Minh     738.21       746.25           -1.08
                                                
  Change on year                                
  Market          Current      End 2016         Pct Move
  Singapore       3204.79      2880.76          11.25
  Bangkok         1568.57      1542.94          1.66
  Manila          7860.77      6840.64          14.91
  Jakarta         5693.391     5296.711         7.49
  Kuala Lumpur    1765.34      1641.73          7.53
  Ho Chi Minh     738.21       664.87           11.03
 


 (Reporting by Chris Thomas; Additional reporting by Christina
Martin; Editing by Amrutha Gayathri)
  

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