January 11, 2018 / 4:33 AM / 2 years ago

SE Asia Stocks-Fall tracking Asian shares, Wall Street

    By Sandhya Sampath
    Jan 11 (Reuters) - Most Southeast Asian stock markets
dropped on Thursday, tracking Asia and Wall Street overnight
which snapped a six-day rally on investor concerns that China,
the world's biggest holder of U.S. Treasuries, might slow or
halt its bond buying.
    The three major U.S. stock indexes ended lower after a
choppy trading session, while benchmark 10-year Treasury yields
 jumped to a 10-month high. 
   Asia shares ex-Japan were down 0.5 percent as
of 0400 GMT. 
    "The weakness on Wall Street could have been a catalyst for
a profit-taking from the global rally seen across most regions,"
said Fio De Jesus, equity research analyst at RCBC Securities in
    In Southeast Asia, Philippines fell as much as 1.7 percent
on broad-based losses, its worst intra-day decline in almost
three months.
    Index heavyweights PLDT Inc dropped 3.2 percent,
while SM Investments Corp fell 2.5 percent.
    "A lot of the proxy stocks that have big weighting on the
index are seeing some profit-taking, although the fundamentals
haven't really changed," De Jesus said.
    Thailand extended losses into a second straight
session, dragged down by industrials and materials.
    Airports of Thailand PCL declined 1.8 percent,
while PTT Global Chemical PCL fell 0.8 percent.
    Malaysia fell as much as 0.5 percent, with utilities
and telecom stocks accounting for more than half of the losses
on the index.
    Axiata Group Bhd was down 0.9 percent, while
Tenaga Nasional Bhd declined 0.4 percent.
    Malaysia's industrial production rose 5 percent
in November from a year earlier, boosted by gains in all three
major sectors, government data showed on Thursday.
    Singapore's FTSE Straits Times Index edged down, with
Jardine Strategic Holdings Ltd, the biggest drag on the
index, falling 1.3 percent. Hutchison Port Holdings Trust
 lost 1.2 percent.
    Indonesia recovered after two sessions of losses,
with energy stocks among the biggest gainers. Bayan Resources
Tbk PT surged 11.6 percent. 
    An index of the country's 45 most liquid stocks
was little changed.
    For Asian Companies click;  

 Change as of 0340 GMT                            
 Market                 Current  Previous close  Pct Move
 Singapore              3516.5   3520.45         -0.11
 Bangkok                1793.88  1794.92         -0.06
 Manila                 8770.24  8920.29         -1.68
 Jakarta                6378.5   6371.174        0.11
 Kuala Lumpur           1814.98  1822.92         -0.44
 Ho Chi Minh            1038.84  1038.11         0.07
 Change on year                                   
 Market                 Current  End 2017        Pct Move
 Singapore              3516.5   3402.92         3.34
 Bangkok                1793.88  1753.71         2.29
 Manila                 8770.24  8,558.42        2.47
 Jakarta                6378.5   6,355.65        0.36
 Kuala Lumpur           1814.98  1796.81         1.01
 Ho Chi Minh            1038.84  984.24          5.55
 (Reporting by Sandhya Sampath; Editing by Biju Dwarakanath)
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