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SE Asia Stocks-Track Asian peers lower as Trump tax plan fails to impress
April 27, 2017 / 10:27 AM / 5 months ago

SE Asia Stocks-Track Asian peers lower as Trump tax plan fails to impress

    By Susan Mathew
    April 27 (Reuters) - Most Southeast Asian stock markets
ended lower on Thursday, tracking Asian peers as U.S. President
Donald Trump's tax reform plan failed to impress investors.
    MSCI's broadest index of Asia-Pacific shares outside Japan
 was down 0.1 percent.
    Trump's much awaited tax cut package fell short of the kind
of comprehensive tax reform that both parties in Washington have
sought for years and left investors unimpressed as the plan did
not cover the funding of tax cuts.
    Meanwhile, Bank of Japan kept its policy unchanged, as
expected, but the governor's comments suggested that the central
bank will significantly lag its U.S. and European peers in
exiting its massive stimulus programme. 
    BOJ prefers to maintain the status quo on monetary policy
for the time being, analysts said.
    In Southeast Asia, Philippine shares fell the most,
snapping five straight sessions of gains.
    Investors took profit after a strong rally in the market,
said Jeremy Yumul, an analyst with RCBC Securities.
    Philippine President Rodrigo Duterte said on Thursday it was
pointless discussing at a summit of Southeast Asian leaders
China's building of artificial islands in the South China Sea.

    Thai shares were marginally lower. The country's
economy may grow 4 percent this year if private investment
increases, the finance minister said on Thursday.
    Indonesian shares were down 0.3 percent, snapping
three consecutive sessions of gains.
    Indonesia's current account deficit is seen at 1.9 percent
of GDP in 2017, the central bank governor said, adding that
there was no room yet for monetary policy easing.
    Vietnam shares, on the other hand, rose 0.9 percent
with energy stocks leading the gains.
    Vietnam National Petroleum Group climbed 4.1
percent, while PetroVietnam Gas Corp rose 2.4 percent.
    PetroVietnam Gas Corp, a unit of state-owned PetroVietnam,
is wrapping up a $210 million five-year term loan, after it
exercised the greenshoe option, sources said.
    
For Asian Companies click;  

SOUTHEAST ASIAN STOCK MARKETS: CHANGE ON DAY    
  Market            Current       Previous Close    Pct Move
  Singapore         3171.36       3173.76           -0.08
  Bangkok           1566.77       1567.47           -0.04
  Manila            7661.01       7726.45           -0.85
  Jakarta           5707.028      5726.53           -0.34
  Kuala Lumpur      1767.92       1768.92           -0.06
 Ho Chi Minh        716.53        710.04            0.91
                                                    
  Change on year                                    
  Market            Current       End 2016          Pct Move
  Singapore         3171.36       2880.76           10.09
  Bangkok           1566.77       1542.94           1.54
  Manila            7661.01       6840.64           12.00
  Jakarta           5707.028      5296.711          7.75
  Kuala Lumpur      1767.92       1641.73           7.69
 Ho Chi Minh        716.53        664.87            7.8
 
 (Reporting by Susan Mathew in Bengaluru; Additional reporting
by Krishna Kurup; Editing by Subhranshu Sahu)
  

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