June 8, 2017 / 10:11 AM / in 2 months

SE Asia Stocks-Largely down as investors brace for key global events

3 Min Read

    By Chris Thomas
    June 8 (Reuters) - Most Southeast Asian stock markets fell
on Thursday as investors shrugged off positive trade data from
China to tread carefully ahead of the UK election, a European
Central Bank policy meeting and congressional testimony from
ex-FBI director James Comey.
    Comey will be grilled by Washington politicians later in the
day over his claims that President Donald Trump asked him to
drop an investigation of former national security adviser
Michael Flynn as part of a probe into Russia's alleged meddling
in the 2016 presidential election.
    China's exports rose 8.7 percent in May from a year earlier,
while imports expanded 14.8 percent, both beating expectations,
but analysts expect the world's second-largest economy to lose
momentum over the course of the year due to policy tightening.

    Southeast Asian markets may not react to the Chinese data
now as they wait for the results of the key global events, said
Manny Cruz, an analyst with Manila-based Asiasec Equities Inc.
    The data will, however, bolster the yuan as well as other
regional currencies in the near term, he added.
    Philippine shares closed nearly 0.6 percent lower
after hitting their highest in nearly 10 months in early trade.
Industrial and telecom stocks dragged down the index. SM
Investments Corp dropped 1.9 percent, while PLDT Inc
 fell 1.4 percent.
    Indonesian shares fell 0.3 percent, weighed down by
Bank Rakyat Indonesia which declined 1.8 percent.     
  
    Meanwhile, Singapore shares snapped three sessions of
falls, with industrial and property stocks leading the rise.
    Jardine Matheson Holdings gained 1 percent, while
CapitaLand rose 1.1 percent.   
    Thailand eked out small gains, while Malaysia
was little changed.
   
For Asian Companies click;  

SOUTHEAST ASIAN STOCK MARKETS: Change on day    
  Market          Current      Previous Close  Pct Move
  Singapore       3237.05      3230.49         0.20
  Bangkok         1570.28      1566.58         0.24
  Manila          7958.63      8002.32         -0.55
  Jakarta         5702.922     5717.325        -0.25
  Kuala Lumpur    1785.57      1785.92         -0.02
  Ho Chi Minh     750.13       753.46          -0.44
                                               
  Change on year                               
  Market          Current      End 2016        Pct Move
  Singapore       3237.05      2880.76         12.37
  Bangkok         1570.28      1542.94         1.77
  Manila          7958.63      6840.64         16.34
  Jakarta         5702.922     5296.711        7.67
  Kuala Lumpur    1785.57      1641.73         8.76
  Ho Chi Minh     750.13       664.87          12.82
 
 (Reporting by Chris Thomas; Editing by Subhranshu Sahu)
  

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