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SE Asia Stocks-Largely down on renewed North Korea concerns
September 22, 2017 / 4:32 AM / 3 months ago

SE Asia Stocks-Largely down on renewed North Korea concerns

    By Binisha Ben
    Sept 22 (Reuters) - Most Southeast Asian stock markets fell
on Friday in line with broader Asia, as investor sentiment took
a hit following a report that North Korea could conduct another
hydrogen bomb test.
    North Korean Foreign Minister Ri Yong Ho said he believes
the country could consider a nuclear test on an "unprecedented
scale" in the Pacific Ocean, South Korea's Yonhap news agency
reported.
    MSCI's broadest index of Asia-Pacific shares outside Japan
 gave up earlier gains and was last down 0.5
percent.
    Meanwhile, S&P Global Ratings downgraded China's long-term
sovereign credit rating on Thursday, citing increasing risks
from its rapid build-up of debt.
    "Credit ratings are very lagging indicators. Moody's and
Fitch already downgraded in May for the same reason. Markets
have already factored that in, so it's not a very big surprise,"
said Taye Shim, head of research at Mirae Asset Sekuritas.
    Indonesian shares fell as much as 0.4 percent,
weighed down by consumer staples and telecom services stocks
    "The market is eyeing Bank of Indonesia's policy rate
decision today. If they do lower the rate, there could be a
reversal of this trend, which is in the red," Shim said. 
    The central bank, which surprised the market with a rate cut
last month, is expected to keep its benchmark interest rate
unchanged on Friday, a Reuters poll showed.        
    Telekomunikasi Indonesia Tbk PT fell 1.1 percent
and Unilever Indonesia Tbk declined by 2.1 percent.
    The index of the country's 45 most liquid stocks
fell 0.6 percent.
    Singapore shares extended falls into a fourth
session, shedding as much as 0.4 percent to their lowest in a
week. 
    Financial and real estate stocks were among the biggest
losers, with DBS Group Holdings, the city-state's top
lender, declining 0.1 percent and CapitaLand Trust
shedding 1.2 percent.
    Malaysia's stock market was closed for a local
holiday.   
For Asian Companies click;  

SOUTHEAST ASIAN STOCK MARKETS : Change at 0420 GMT
  Market           Current       Previous     Pct Move
                                 Close        
  Singapore        3212.91       3213.82      -0.03
  Bangkok          1661.18       1670.49      -0.56
  Manila           8278.56       8286.86      -0.10
  Jakarta          5897.191      5906.573     -0.16
  Ho Chi Minh      806.33        803.93       0.30
                                              
  Change on year                              
  Market           Current       End 2016     Pct Move
  Singapore        3212.91       2880.76      11.53
  Bangkok          1661.18       1542.94      7.66
  Manila           8278.56       6840.64      21.02
  Jakarta          5897.191      5296.711     11.34
  Ho Chi Minh      806.33        664.87       21.28
 
 (Reporting by Binisha Ben in Bengaluru; Editing by Subhranshu
Sahu)
  

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