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CORRECTED-SE Asia Stocks-Fall as investors assess MSCI China move; lower oil weighs
June 21, 2017 / 6:02 AM / in a month

CORRECTED-SE Asia Stocks-Fall as investors assess MSCI China move; lower oil weighs

3 Min Read

 (Corrects brokerage name in third paragraph to RCBC Securities
from RCBC Corp)
    By Nicole Pinto
    June 21 (Reuters) - Southeast Asian stock markets fell on
Wednesday tracking weakness in global peers after crude fell to
a multi-month low, while investors weighed the impact of
inclusion of mainland Chinese stocks to one of MSCI's popular
benchmarks.
    U.S. index provider MSCI said on Wednesday it would add a
selection of China's A shares to its Emerging Markets Index
 after having rejected them for three years running.

    "The inclusion of China shares on MSCI’s Emerging Market
Index, would displace shares of other emerging markets," said 
Jeffrey Lucero, equity research analyst with RCBC Securities. 
    Oil prices dipped on Wednesday to a seven-month low as
investors discounted evidence of strong compliance by OPEC and
non-OPEC oil producers with a deal to cut global output.
    Philippine shares fell 0.5 percent to a near
three-week low.
    Investors are taking a cautious note ahead of the Philippine
central bank's policy meeting on Thursday. 
    Bangko Sentral ng Pilipinas is widely expected to leave
interest rates steady on Thursday, a Reuters poll showed, but
pressures on inflation are likely to keep an interest rate
increase on the cards this year.
    Ayala Land declined 1.5 percent while PLDT Inc
 fell 2.1 percent. 
    Singapore shares down 0.7 percent, as Oversea-Chinese
Banking Corp fell to its lowest in three weeks and
United Overseas Bank slid to an over one-month trough.
    Malaysia shares edged down 0.2 percent their lowest
in over two weeks. 
    Government data showed May consumer prices in
Malaysia were 3.9 percent higher than a year earlier, slightly
below the 4 percent forecast in a Reuters poll, and down from
April's 4.4 percent.
    Tenaga Nasional Bhd fell 1.1 percent and Malayan
Banking Bhd fell 0.3 percent. 
       
For Asian Companies click;  

SOUTHEAST ASIAN STOCK MARKETS: Change at 0501 GMT 
  Change on the                                        
 day                                         
  Market           Current      Previous     Pct Move
                                Close        
  Singapore        3209.17      3230.42      -0.66
  Bangkok          1574.92      1578.62      -0.23
  Manila           7875.1       7917.86      -0.54
  Jakarta          5792.418     5791.904     0.01
  Kuala Lumpur     1776.93      1780.71      -0.21
 Ho Chi Minh       762.73       767.99       -0.68
                                             
  Change so far                              
 this year                                   
  Market           Current      End 2016     Pct Move
  Singapore        3209.17      2880.76      11.40
  Bangkok          1574.92      1542.94      2.07
  Manila           7875.1       6840.64      15.1 
  Jakarta          5792.418     5296.711     9.36
  Kuala Lumpur     1776.93      1641.73      8.24
 Ho Chi Minh       762.73       664.87       14.7
 

 (Reporting by Nicole Pinto in Bengaluru; Editing by Vyas Mohan)
  

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