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7 months ago
SE Asia Stocks-Largely down; Philippines falls after 2 sessions of gains
February 7, 2017 / 5:02 AM / 7 months ago

SE Asia Stocks-Largely down; Philippines falls after 2 sessions of gains

By Suhail Hassan Bhat
    Feb 7 (Reuters) - Most Southeast Asian stock markets fell on
Tuesday, tracking U.S. equities, as lack of details on President
Donald Trump's economic policies pushed investors away from
riskier assets.
    Asian shares also eased as economic and political fears sent
investors seeking shelter in the yen, while forecasts China's
foreign exchange reserves have fallen for a seventh month added
to jitters.      
    "The policies of the Trump administration and what he's
planning to do with them are still unclear. The dollar index
rallied last night, but I think we're also following U.S.
markets which went down last night," said Mikey Macanaig, an
analyst with Sunsecurities Inc.
    "Then again, the protectionist stance of Trump might also
affect the market."
    Philippine shares fell as much as 0.7 percent,
heading for their first decline in three sessions, and
underperforming other regional markets with industrials driving
the losses.
    Both SM Investments Corp and Ayala Corp 
dropped over 2 percent and were the biggest drag.
    The Philippine central bank is expected to keep its rates
unchanged on Thursday at its first policy meeting of the year.
 
    Malaysian shares slipped after three consecutive
sessions of gains, hurt by industrials and materials.
    Sime Darby Bhd dropped 0.7 percent in its second
straight session of falls.
    Thai stocks were flat ahead of the central bank's
policy meeting on Wednesday. The Bank of Thailand is expected to
keep its one-day repurchase rate unchanged at 1.50
percent. 
    Gains in financials and telecoms offset by losses in energy
stocks.
    Advanced Info Service Pcl rose 1.2 percent,
while petroleum products distributor RPCG Pcl fell 1
percent.
    Singapore shares gained 0.5 percent with all the
major sectors trading in the positive territory. 
    Financials contributed the most to the gains with
Oversea-Chinese Banking Corp Ltd rising as much as 1.8
percent to its highest since August 2015.

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SOUTHEAST ASIAN STOCK MARKETS: Change at 0421 GMT

  Market        Current   Previous   Pct Move
                          Close      
  Singapore     3070.79   3056.91    0.45
  Bangkok       1589.03   1589.13    -0.01
  Manila        7249.03   7294.4     -0.62
  Jakarta       5391.071  5395.995   -0.09
  Kuala Lumpur  1687.87   1691.24    -0.20
  Ho Chi Minh   702.95    700.04     0.42
                                     
  Change this                        
 year                                
  Market        Current   End 2016   Pct Move
  Singapore     3070.79   2880.76    6.60
  Bangkok       1589.03   1542.94    2.99
  Manila        7249.03   6840.64    5.97
  Jakarta       5391.071  5296.711   1.78
  Kuala Lumpur  1687.87   1641.73    2.81
  Ho Chi Minh   702.95    664.87     5.7
 
 (Reporting by Suhail Hassan Bhat; Additional Reporting by Hanna
Paul; Editing by Subhranshu Sahu)

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