Reuters logo
SE Asia Stocks-Tepid on lack of triggers; Vietnam hits over 9-yr high
March 30, 2017 / 6:05 AM / 9 months ago

SE Asia Stocks-Tepid on lack of triggers; Vietnam hits over 9-yr high

    By Urvashi Goenka
    March 30 (Reuters) - Southeast Asian stock markets moved
sideways on Thursday in thin trading in the absence of
market-moving macroeconomic triggers, while Vietnam rose to its
highest in more than nine years.
    The start of the UK's historical negotiations to leave the
European Union had little impact on Southeast Asia, but MSCI's
broadest index of Asia-Pacific shares outside
Japan edged down 0.3 percent.
    "Brexit has been widely discussed ever since it first
surfaced, but if you look at the boarder Southeast Asia market,
it has a limited fundamental impact," said Taye Shim, head of
research at Jakarta-based Mirae Asset Sekuritas.
    He added it was very unlikely that any positive data from
the United States to support more interest rate hikes would make
Asian investors uncomfortable since the Federal Reserve had
already clarified its policy stance. 
    "Broadly I think it's more of a mixed sentiment between
profit-taking and what kind of next upside catalyst do we have,"
Shim said. 
    Vietnam gained as much as 0.7 percent, touching its
highest since February 2008, boosted by gains in financials and
consumer staples.
    Philippine shares rose as much as 0.5 percent,
supported by industrials and consumer discretionary stocks, with
Jollibee Foods Corp and Manila Electric Co
gaining as much 3.5 percent and 2.2 percent, respectively. 
    Thai index was up as much as 0.2 percent, with
materials and real estate leading the gains. 
    Port operator Bangpakong Terminal Pcl gained as
much as 14.3 percent, while CIMB Thai Bank Pcl rose
5.2 percent, and were among the top performers on the index.   
    Singapore shares fell as much as 0.5 percent, hurt by
the industrial sector, with Jardine Matheson Holdings
and Jardine Cycle and Carriage Ltd falling as much as
2.7 percent and 1.3 percent, respectively.
    Financials and consumer discretionary sectors accounted for
most of the losses on the Malaysian index, dragging it
down as much as 0.2 percent.
    Resort operator Genting Malaysia Bhd fell as much
as 2.3 percent, while Malayan Banking Bhd fell 0.9
    Indonesian shares fell as much as 0.4 percent,
retreating from a record high hit in the previous session, hurt
by consumer discretionary stocks.
    An index of the 45 most liquid stocks fell 0.7
    "For Indonesia, the next big catalyst would be the
fourth-quarter, full-year earnings," said Shim.

For Asian Companies click;  

  Market             Current       previous     Pct Move
  Singapore          3173.94       3184.57      -0.33
  Bangkok            1576.06       1574.97      0.07
  Manila             7333.15       7324         0.12
  Jakarta            5563.556      5592.51      -0.52
  Kuala Lumpur       1746.93       1750.41      -0.20
 Ho Chi Minh         725.3         720.47       0.67
  Change this year                              
  Market             Current       End 2016     Pct Move
  Singapore          3173.94       2880.76      10.18
  Bangkok            1576.06       1542.94      2.15
  Manila             7333.15       6840.64      7.20
  Jakarta            5563.556      5296.711     5.04
  Kuala Lumpur       1746.93       1641.73      6.41
 Ho Chi Minh         725.3         664.87       9.08

 (Reporting by Urvashi Goenka in Bengaluru; Additional reporting
by Sindhu Chandrasekaran; Editing by Amrutha Gayathri)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below