February 9, 2016 / 5:01 AM / 4 years ago

SE Asia Stocks-Lower; global risk aversion, holidays hit sentiment

BANGKOK, Feb 9 (Reuters) - Stocks in Thailand, Indonesia and
the Philippines fell in holiday-thinned trade on Tuesday amid
falling risk appetite globally and on caution ahead of U.S.
Federal Reserve Chair Janet Yellen's semi-annual monetary policy
testimony before Congress this week.
    The Thai SET index was down 0.9 percent at 1,295.84
near midday, its first loss in five trading sessions. About 3.3
billion shares changed hands, about a third of a full-day
average over the past 30 days.
    Investors cashed in on quick gains in shares of Big C
Supercenter, sending the stock down 0.4 percent and
trimming some of its 9.7 percent surge the day before.
    Big C shares got a boost Monday after France's Casino Group
 agreed to sell its majority holding in Big C to TCC
Group, owned by whiskey tycoon Charoen Sirivadhanabhakdi.
    The Thai index is expected to move in a narrow range, with
investors eyeing the Fed's address on Feb. 10-11 to evaluate the
chances of a rate hike in March, according to broker Maybank Kim
Eng Securities.
    "Markets hope it will be delayed due to slower global
economic growth and low oil prices which will keep the inflation
level low. However, the Fed is expected to definitely hike the
rate this year," the broker said.
    The Philippine main index slipped 1.4 percent while
the Jakarta composite index was down 0.8 percent, both
resuming trade after the Lunar New Year holiday on Monday.
    Shares of Globe Telecom Inc dropped almost 4
percent at one point after it reported weak fourth-quarter
    Asian shares, measured by MSCI's broadest index of Asia
Pacific shares outside Japan, lost about 1.2
percent as stability concerns put a torch to European bank
stocks and sent investors to safe haven assets. 
    Singapore, Malaysia and Vietnam remained closed for the
Lunar New Year holiday.
For Asian Companies click;  

  Change at 0432 GMT                                       
  Market               Current    previous close  Pct Move
  Bangkok              1295.84    1307.57         -0.90
  Manila               6667.96    6765.13         -1.44
  Jakarta              4760.541   4798.946        -0.80
 (Reporting by Viparat Jantraprap; Editing by Biju Dwarakanath)
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