May 10, 2017 / 5:13 AM / 3 months ago

SE Asia Stocks-Subdued in thin trade as caution prevails

3 Min Read

    By Hanna Paul
    May 10 (Reuters) - Southeast Asian markets were subdued in
thin trade as investors trod with caution amid political
uncertainties while three regional markets were shut for
national holidays. 
    Asian stocks traded on a tentative note amid increasing
tensions over North Korea's nuclear programme and on the U.S.
President Donald Trump's surprising dismissal of FBI Director
James Comey despite positive economic data from China.

    Philippine shares fell as much as 0.4 percent, its
second straight session of losses, dragged down primarily by
industrials.
    "Market is showing some short-term technical weakness,
coming from an overbought peso," said Joann Parayno, specialist
at AP Securities.
    Nickel ore output in the Philippines, the world's top
supplier, fell 51 percent hurt by rains and mine suspensions in
the first quarter, government data showed.
    The new environment minister Roy Cimatu said on Tuesday that
he wanted to strike a balance between conservation and mining
interests, hinting an intent to settle the mining malaise in the
country started by his predecessor Regina Lopez.
    Lopez was ousted over her anti-mining campaign through which
she ordered the closure of 22 of 41 operating mines and
cancelled dozens of contracts for undeveloped mines in the fifth
most-mineralised country in the world.
    Vietnam stocks nudged higher, led by financials and
materials, with Petroleum Pipeline & Tank Construction Joint
Stock Co among top gainers.
    Indonesian shares edged down as gains in financials
were more than offset by losses in energy and industrials.
    PT Trimegah Sekuritas Indonesia Tbk up as much as
23.2 percent led gains on the benchmark, while PT Bintang Mitra
Semestaraya Tbk, down 33.9 percent, was the biggest
decliner.
    Markets in Malaysia, Thailand and Singapore
 are closed on account of a public holiday.
    
For Asian Companies click;  

SOUTHEAST ASIAN STOCK MARKETS : Change on day
  Market           Current       Previous     Pct Move
                                 Close        
  Manila           7878          7923.5       -0.57
  Jakarta          5690.961      5697.056     -0.11
  Ho Chi Minh      726.98        722.11       0.67
                                              
  Change on year                              
  Market           Current       End 2016     Pct Move
  Manila           7878          6840.64      15.2
  Jakarta          5690.961      5296.711     7.44
  Ho Chi Minh      726.98        664.87       9.3
 
 (Reporting by Hanna Paul; Editing by Amrutha Gayathri)
  

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