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CORRECTED-SE Asia Stocks-Subdued on China crackdown fears; Vietnam near decade high
November 27, 2017 / 9:57 AM / 21 days ago

CORRECTED-SE Asia Stocks-Subdued on China crackdown fears; Vietnam near decade high

 (Corrects pct move in table for Thai index to -0.01 pct from
-0.07 pct)
    By Aaron Saldanha
    Nov 27 (Reuters) - Most Southeast Asian stock markets ended
lower on Monday amid concerns of a regulatory crackdown in
China, while Vietnam shares closed near a decade high led by
real estate and utility stocks. 
    Chinese shares fell as sentiment took a hit from rising bond
yields after Beijing stepped up a crackdown on shadow banking
and other riskier forms of financing, with higher borrowing
costs threatening to squeeze corporate profits.
    MSCI's broadest index of Asia-Pacific shares outside Japan
 rose early in the session tracking Wall Street
gains on Friday, but was last down 0.9 percent, slipping further
from a 10-year peak scaled on Thursday.
    Meanwhile, Shanghai shares fell 0.9 percent to a
three-month low.
    Vietnam shares recorded their highest close since
Dec. 2007, helped by gains in Vingroup JSC, up 2
percent, and Petrovietnam Gas Joint Stock Corp, up 1.1
percent.
    The Philippine index recovered part losses to end
marginally lower as gains in real estate and energy stocks were
outweighed by losses in the consumer discretionary and staples.
    "It is more of a continuation of last week's profit-taking,"
said Fio Dejesus, an equity research analyst at RCBC Securities
in Manila.
    Heavyweights SM Investments Corp and Ayala Land Inc
 ended 1.4 percent and 1.1 percent lower, respectively,
as investors cashed in after last week's gains.
    SM Investments climbed 1.9 percent last week while Ayala
Land gained 4.1 percent.
    "Most of our covered stocks are already priced in, with the
exception of consumer stocks which still have quite a bit of
upside in our view," added RCBC's Dejesus.
    Singapore's benchmark index fell 0.2 percent on
Monday as lenders DBS Group Holdings and United
Overseas Bank Ltd, each lost about 0.7 percent. 
    On the other hand, Malaysian shares added 0.2
percent, helped by gains in telecom and utilities stocks.
Electric utility Tenaga Nasional, up 1.2 percent, was
the biggest contributor to index gains.
    Indonesia's index of its 45 most liquid stocks
recovered from an early decline to end the day 0.1 percent
higher.
    A government divestment roadshow in Singapore for brewer
Sabeco piqued investor interest though the stock fell 5
percent ahead of the government revealing plans to divest its 90
percent stake.


    
For Asian Companies click;  

SOUTHEAST ASIAN STOCK MARKETS: CHANGE ON DAY
 Change on the day                                  
 Market                   Current   previous close  Pct Move
 Singapore                3436.36   3442.15         -0.17
 Bangkok                  1695.67   1695.84         -0.01
 Manila                   8361.69   8365.11         -0.04
 Jakarta                  6064.589  6067.142        -0.04
 Kuala Lumpur             1719.86   1717.23         0.15
 Ho Chi Minh              938.61    935.57          0.32
                                                    
 Change so far this year                            
 Market                   Current   End 2016        Pct Move
 Singapore                3436.36   2880.76         19.29
 Bangkok                  1694.63   1542.94         9.83
 Manila                   8361.69   6840.64         22.24
 Jakarta                  6064.589  5296.711        14.50
 Kuala Lumpur             1719.86   1641.73         4.76
 Ho Chi Minh              938.61    664.87          41.17
 
 (Reporting by Aaron Saldanha in Bengaluru; Editing by Vyas
Mohan)
  

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