October 5, 2018 / 10:02 AM / 14 days ago

SE Asia Stocks-Fall as U.S. Treasury yields hit over 7-year high

    * Philippines falls for 5th straight week
    * Indonesia ends week 4.1 pct lower
    * U.S. payrolls data awaited 

    By Niyati Shetty
    Oct 5 (Reuters) - Southeast Asian stock markets fell on
Friday, wrapping up the week with losses, as U.S. Treasury
yields hit a more than seven-year high after robust economic
data and hawkish comments from Federal Reserve officials stoked
concerns of faster-than-expected interest rate hikes.
    The yield on 10-year Treasury bonds on Thursday hit its
highest level since May 2011 on expectations that Friday's
payrolls report would be stronger than expected, thereby
strengthening the Fed's case for an interest rate hike.

    Higher U.S. yields are not favourable for emerging markets,
as they tend to draw away foreign funds while pressuring local
currencies.
    Investors are expected to scour the U.S. government's
September payroll report scheduled for release on Friday and
look closely for signs of wage growth, which could fan concerns
about inflation.
    A Reuters poll showed non-farm payrolls likely increased by
185,000 jobs after rising 201,000 the previous month, with
unemployment rate seen falling to an 18-month low of 3.8
percent.
    In the region, the Philippine index ended 0.2 percent
lower weighed down by industrials. The index posted a 2.7 pct
decline on week, its fifth straight weekly fall. 
    Earlier in the day, data showed the country's inflation rose
for a ninth straight month in September, hitting a near-decade
high of 6.7 percent, although coming in slightly lower than the
6.8 forecast in a Reuters poll.
    Conglomerate JG Summit Holdings declined 3.4
percent and SM Investments Corp fell 0.6 percent. 
    Singapore shares slipped 0.7 percent as
Oversea-Chinese Banking Corporation declined 0.9
percent and Jardine Matheson Holdings slipped 0.4
percent. The city-state's benchmark index is down 1.5 percent
this week.  
    The country's central bank on Friday said it would issue its
semiannual policy statement on October 12. As per a Reuters
poll, the bank is expected to tighten it's monetary policy.
 
    Malaysia's benchmark index fell 0.7 percent to a
seven-week closing low and ended the week 0.9 percent lower. 
    Government data showed the country's exports fell in August
for the first time in six months, hit by declining shipments of
palm oil and slowing demand from the United States.
    Indonesian shares slumped 4.1 percent this week
while Thai stocks ended the week 1.9 percent down.
    
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SOUTHEAST ASIAN STOCK MARKETS
 Market          Current   Previous Close  Pct Move
 Singapore       3209.79   3231.59         -0.67
 Bangkok         1720.52   1729.4          -0.51
 Manila          7078.2    7093.34         -0.21
 Jakarta         5731.935  5756.619        -0.43
 Kuala Lumpur    1777.15   1790.11         -0.72
 Ho Chi Minh     1008.39   1023.62         -1.49
                                           
 Change on year                            
 Market          Current   End 2017        Pct Move
 Singapore       3209.79   3402.92         -5.68
 Bangkok         1720.52   1753.71         -1.89
 Manila          7078.2    8558.42         -17.30
 Jakarta         5731.935  6355.654        -9.81
 Kuala Lumpur    1777.15   1796.81         -1.09
 Ho Chi Minh     1008.39   984.24          2.45
 
 (Reporting by Niyati Shetty in Bengaluru; Editing by Vyas
Mohan)
  
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