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SE Asia Stocks-Fall as oil slump, MSCI nod to China shares sour mood
June 21, 2017 / 10:45 AM / 3 months ago

SE Asia Stocks-Fall as oil slump, MSCI nod to China shares sour mood

    By Nicole Pinto
    June 21 (Reuters) - Southeast Asian stock markets ended
lower on Wednesday as an oil price slump to seven-month lows and
MSCI's move to list China's so-called "A" shares on its Emerging
Markets Index put investors on the back foot.
    U.S. index provider MSCI said China had made enough progress
in opening up its markets, paving the way for adding a selection
of 222 large-cap stocks, which would represent a 0.73 percent
weighting on the benchmark.
    The bulk of the shares will be of financial and industrial
companies, and will be included via a two-phase process in May
and August next year. 
    "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.
    Meanwhile, benchmark oil prices slid to seven-month lows, as
investors discounted evidence of strong compliance by OPEC and
non-OPEC producers with a deal to cut global output.
    Singapore shares fell 0.9 percent to close at its
lowest in three weeks, with financial and industrial sectors
contributing most of the losses.
    Oversea-Chinese Banking Corp Ltd fell 1.6 percent,
while Singapore Telecommunications Ltd fell 1.1
percent.  
    Philippine shares closed 0.4 percent lower ahead of
its central bank policy meeting on Thursday, where it is
expected to keep its benchmark interest rate steady
at 3.0 percent.
    However some economists expect the central bank to adopt a
more hawkish tone to lay the groundwork for a tighter policy in
the second half of this year to head off inflation pressures.
    Index heavyweight PLDT Inc ended 2.4 percent lower
and Ayala Land lost 1.5 percent. 
    Malaysian shares edged down 0.3 percent, posting
their third straight day of losses. 
    Government data showed consumer prices in May
were 3.9 percent higher than a year earlier, slightly below the
4.0 percent forecast in a Reuters poll.
    Indonesian shares rose 0.5 percent, driven by gains
in the financial sector. 
    Bank Rakyat Indonesia (Persero) Tbk PT gained 2.2
percent and Unilever Indonesia Tbk PT gained 1.6
percent. 
        
For Asian Companies click;  

SOUTHEAST ASIAN STOCK MARKETS:
  Change on the                                          
 day                                           
  Market           Current       Previous      Pct Move
                                 Close         
  Singapore        3201.77       3230.42       -0.89
  Bangkok          1577.01       1578.62       -0.10
  Manila           7886.37       7917.86       -0.40
  Jakarta          5818.552      5791.904      0.46
  Kuala Lumpur     1775.57       1780.71       -0.29
 Ho Chi Minh       767.41        767.99        -0.08
                                               
  Change so far                                
 this year                                     
  Market           Current       End 2016      Pct Move
  Singapore        3201.77       2880.76       11.14
  Bangkok          1577.01       1542.94       2.21
  Manila           7886.37       6840.64       15.3 
  Jakarta          5818.552      5296.711      9.85
  Kuala Lumpur     1775.57       1641.73       8.15
 Ho Chi Minh       767.41        664.87        15.4
 

 (Reporting by Nicole Pinto in Bengaluru; Editing by Amrutha
Gayathri)
  

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