June 23, 2017 / 4:52 AM / 6 months ago

SE Asia Stocks-Largely flat; Thailand hits over 2-mth high

    By Nicole Pinto
    June 23 (Reuters) - Southeast Asian shares were
flat-to-lower on Friday tracking broader Asia as a recovery in
oil prices failed to boost sentiment, while Thai shares
hit an over two-month high.
    Brent crude rose 0.3 percent to $45.36 a barrel
after hitting a 10-month low earlier in the week, but has lost
around 20 percent since late February as the global glut has
persisted despite OPEC-led output cuts.
    MSCI's broadest index of Asia-Pacific shares outside Japan
 was nearly unchanged, but was on track to end
the week 0.4 percent higher.
    "Asian markets are quite mixed but more on the downside on
the continued weakness in oil prices which remained below $43 a
barrel," said Manny Cruz, an analyst with Manila-based Asiasec
Equities Inc.
    "There are expectations that oil prices will continue to
retreat in the near term."
    Philippine shares fell 0.6 percent with the real
estate sector losing the most.
    On Thursday, the Philippine central bank left its key
overnight borrowing rate steady at 3 percent, as expected and
cut 2017 inflation forecast to 3.1 percent.

    Bangko Sentral ng Pilipinas said the conflict in Marawi City
in Southern Philippines could have "some impact on growth and
inflation."
    "What is worrying is if this will escalate to other parts of
the southern areas. That remains to be seen, but I think the
market is slowly looking into that kind of possibility," Cruz
added. 
    Singapore shares were down approximately 0.3 percent
ahead of May inflation and industrial production data due later
in the day.
    Realty stocks were among top losers with Global Logistic
Properties dropping 7.3 percent. 
    Thai shares rose 0.2 percent to their highest level
since April 17 with PTT Global Chemical  and Siam
Cement up 1.1 percent and 0.4 percent respectively. 
    Thailand's May exports jumped to their highest annual pace
in 52 months, climbing 13.2 percent year-on-year, data released
on Thursday showed.    
    Indonesia's financial markets will be shut today and
throughout next week on account of public holidays 
 
    
For Asian Companies click;  

    SOUTHEAST ASIAN STOCK MARKETS: Change at 0354 GMT
    
  Change on the                                    
 day                                       
  Market          Current      Previous    Pct Move
                               Close       
  Singapore       3205.58      3215.55     -0.31
  Bangkok         1583.48      1580.91     0.2 
  Manila          7815.17      7858.34     -0.55
  Kuala Lumpur    1776.86      1777.43     -0.03
 Ho Chi Minh      766.44       766.3       0.02
                                           
  Change so far                            
 this year                                 
  Market          Current      End prev    Pct Move
                               yr          
  Singapore       3205.58      2880.76     11.28
  Bangkok         1583.48      1542.94     2.63
  Manila          7815.17      6840.64     14.2
  Kuala Lumpur    1776.86      1641.73     8.23
 Ho Chi Minh      766.44       664.87      15.3
 

 (Reporting by Nicole Pinto; Editing by Vyas Mohan)
  

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