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SE Asia Stocks-Lacklustre; markets await Trump speech
January 11, 2017 / 10:17 AM / 10 months ago

SE Asia Stocks-Lacklustre; markets await Trump speech

By Sandhya Sampath
    Jan 11 (Reuters) - Southeast Asian stocks were mostly
lacklustre on Wednesday as markets awaited U.S. President-elect
Donald Trump's news conference later in the day for clues on his
policies. 
    Philippine shares shed 0.6 percent on profit-booking
after six sessions of gains. 
    "Since foreign investors entered the market in the past
three or four sessions, it sort of gave a signal to local
investors to enter and I think that's what caused the rally,"
said Victor Felix, an analyst with AB Capital Securities.
    The market has "rallied a lot and too fast, so investors are
taking profits right now, letting it cool off," he added.     
    Telecommunications service providers were the biggest drag
on the index, with Globe Telecom Inc and PLDT Inc
 ending 2.4 percent and 1.6 percent lower respectively.
    Investors are now awaiting Trump's speech for further cues,
analysts said.
    While Trump's plan for tax cuts and infrastructure spending
has boosted U.S. shares and the dollar, investors are still on
edge due to his protectionist statements during the months-long
election campaign. 
    Singapore shares ended 0.17 percent lower, dragged
down by financials and industrials, after having gained for six
straight sessions.
    Hongkong Land Holdings Ltd ended 3.8 percent
lower, while Hutchison Port Holdings Trust was down
1.1 percent.
    Vietnam shares ended nearly 1 percent higher, led by
consumer staples and financials.
    Indonesia ended down 0.2 percent, extending losses
to a third straight session, with consumer cyclicals dragging
down the index. Automotive company Astra International Tbk PT
 ended 2.1 percent lower.
    Motorcycle sales in Indonesia fell 15.9 percent in December
from a year earlier, data from an industry association showed on
Wednesday. 
    The Malaysian index closed 0.2 percent higher,
boosted by upbeat industrial production data.
    Malaysia's industrial production in November rose
6.2 percent from a year earlier, helped by strength in the
manufacturing, electricity and mining sectors, government data
showed on Wednesday. 
    Electricity utility company Tenaga Nasional Berhad 
closed 1.5 percent higher, while infrastructure conglomerate YTL
Corporation Bhd ended 1.3 percent higher. 
        
For Asian Companies click;  

SOUTHEAST ASIAN STOCK MARKETS
    
  STOCK MARKETS                                             
  Change on the day                                         
  Market               Current    previous close  Pct Move
  Singapore            3000.94    3006.02         -0.17
  Bangkok              1572.93    1572.1          0.05
  Manila               7321.82    7364.34         -0.58
  Jakarta              5301.237   5309.924        -0.16
  Kuala Lumpur         1675.21    1672.05         0.19
  Ho Chi Minh          687.16     681.07          0.89
                                                  
  Change this year                                
  Market               Current    End 2016        Pct Move
  Singapore            3000.94    2880.76         4.17
  Bangkok              1572.93    1542.94         1.94
  Manila               7321.82    6840.64         7.00
  Jakarta              5301.237   5296.711        0.09
  Kuala Lumpur         1675.21    1641.73         2.04
  Ho Chi Minh          687.16     664.87          3.40
 
    

 (Reporting by Sandhya Sampath; Additional reporting by Susan
Mathew; Editing by Sunil Nair)

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