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SE Asia Stocks-Down as risk-off mood weighs, Philippines leads losses
November 24, 2017 / 4:37 AM / 18 days ago

SE Asia Stocks-Down as risk-off mood weighs, Philippines leads losses

    By Susan Mathew
    Nov 24 (Reuters) - Most Southeast Asian stock markets fell
on Friday, with the Philippines declining the most, as investors
avoided riskier assets following a steep drop in Chinese shares
in the previous session.
    MSCI's broadest index of Asia-Pacific shares outside Japan
 came off a 10-year peak after the Chinese
blue-chip CSI300 index posted its biggest decline in
nearly a year-and-a-half, on concerns over a sustained bond
selloff in China bleeding into the country's stock markets.

    The selloff comes as the Chinese government steps up its
deleveraging campaign, most recently with measures aimed at
curtailing micro-lending and imposing tighter regulation on
asset management businesses.
    Philippine stocks led the losses in Southeast Asia, sliding
0.9 percent, giving up the previous day's near 1 percent gain.
    "The lackluster trading volume we've seen throughout the
week may continue today due to the lack of catalysts in the
local front," RCBC analysts wrote in a note.
    Heavyweight SM Investments slipped 0.6 percent,
while telecom PLDT shed 3.1 percent.
    Malaysian shares inched 0.3 percent lower, with
telecom stock DiGi.Com being the biggest drag as it
retreated 4.1 percent. 
    Malaysia's annual inflation rate for October
came in at 3.7 percent, missing forecasts and moderating from
the previous month, data showed. 
    In contrast to the broader trend, Singapore shares
gained 0.3 percent ahead of the release of the October
manufacturing output data. The index fell in the previous
session after data showing faster-than-expected third-quarter
economic growth led to worries of a tighter monetary policy.

    The city state's industrial production is expected to expand
for a 15th consecutive month in October, thanks to continued
demand for its technology products, a Reuters poll showed.
        
    Lender DBS Group Holdings climbed 0.9 percent,
while Thai Beverage rose 2.7 percent after reporting a
rise in full-year net profit on Thursday. 
    
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SOUTHEAST ASIAN STOCK MARKETS: CHANGE AT 0421 GMT
    
  Market           Current      Previous Close  Pct Move
  Singapore        3434.74      3423.17         0.34
  Bangkok          1700.73      1707.38         -0.39
  Manila           8268.82      8343.23         -0.89
  Jakarta          6045.043     6063.245        -0.30
  Kuala Lumpur     1715.72      1721.27         -0.32
  Ho Chi Minh      930.24       933.7           -0.37
                                                
  Change on year                                
  Market           Current      End 2016        Pct Move
  Singapore        3434.74      2880.76         19.23
  Bangkok          1700.73      1542.94         10.23
  Manila           8268.82      6840.64         20.9
  Jakarta          6045.043     5296.711        14.13
  Kuala Lumpur     1715.72      1641.73         4.51
  Ho Chi Minh      930.24       664.87          39.9
 

 (Reporting by Susan Mathew in Bengaluru; Editing by Amrutha
Gayathri)
  

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