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SE Asia Stocks-Mostly down on global growth concerns ahead of Fed, BOJ meetings
January 26, 2016 / 5:47 AM / 2 years ago

SE Asia Stocks-Mostly down on global growth concerns ahead of Fed, BOJ meetings

Jan 26 (Reuters) - Southeast Asian shares retreated after
two sessions of gains on Tuesday, in line with Asian peers after
oil prices resumed their decline, and as fears of a global
economic slowdown showed no sign of abating.
    Investors also awaited some strong cues on the global
economy from the U.S. Federal Reserve and the Bank of Japan
monetary policy meetings this week. 
    Singapore's share index was down 0.8 percent, while
the Philippines fell 1.3 percent.  
    "The recent stock market volatility is making investors more
cautious, with foreign net outflow everyday," said John Teja,
director of Ciptadana Securities. 
    "In the short term, global equity market will remain in a
cautious tone as oil prices fell sharply and the U.S. dollar
reached new cyclical high," Teja said.
    The U.S. Federal Reserve and the Bank of Japan will hold
policy meetings this week, with the Fed meeting scheduled for
Jan. 26-27 and BOJ gathering on Jan. 28-29.
    Investors will look for hints on when the Fed intends to
make a second interest rate hike, while there is speculation
that the BOJ might opt for additional easing measures.
    Crude oil prices have failed to extend their rebound that
had started last week, falling around 7 percent so far this
week. News that Iraq's output reached a record last month
deepened concerns of oversupply.. 
    Bucking the trend, Indonesia was up 0.1 percent on
expectations of a stable rupiah this year. 
For Asian Companies click;  

  Change at 0517 GMT                                      
  Market              Current    previous close  Pct Move
  Singapore           2562.63    2582.64         -0.77
  Bangkok             1266.66    1267.70         -0.08
  Manila              6351.65    6434.08         -1.28
  Jakarta             4508.605   4505.788        +0.06
  Kuala Lumpur        1624.92    1618.26         -0.02
  Ho Chi Minh         537.91     542.35          -0.82
 (Reporting by Shihar Aneez; Editing by Anand Basu)

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