April 26, 2018 / 4:50 AM / 3 months ago

SE Asia Stocks-Most fall as dollar carry trade unwinds; Indonesia hits 6-mth low

    * Indonesia slips for fifth straight day
    * Thailand, Singapore flat
    * 

    By Sumeet Gaikwad
    April 26 (Reuters) - Most Southeast Asian stock markets fell
on Thursday as a strong dollar and climbing U.S. treasury yields
saw investors unwinding greenback-denominated carry trades,
while Indonesia slipped for a fifth straight session to levels
unseen since October.
    The Jakarta index fell as much as 2.1 percent as
foreign outflows continued to hurt the rupiah, which has been
depreciating since last week.     
    The Indonesian rupiah yield curve's sharp flattening
suggests a build-up of rate-hike expectations, Standard
Chartered said in a note. 
    Financials faltered, with Bank Central Asia
falling as much as 2 percent and Bank Mandiri (Persero)
 hitting a six-month low. 
    The country's index of 45 most liquid stocks was
down 2 percent.
    "It's a tricky situation for the government and the central
bank as they have to contemplate whether to focus on growth or
stability," said Taye Shim, head of research at Mirae Asset
Sekuritas.
    Investors are reducing U.S. dollar-funded carry trades in
emerging markets after a broad rally of the benchmark currency
and a subsequent spike in treasury yields dented equity risk
premium.
    Benchmark U.S. Treasury 10-year yield edged above 3 percent
on Wednesday and may likely reach levels last seen in mid-2011.
   
    Singapore shares were trading flat. Telecom stocks
such as index heavyweight Singapore Telecommunications Ltd
 gained while tech and financial stocks edged lower.
    Philippine stocks were down marginally as gains in
real estate sector were offset by losses in financials.
Metropolitan Bank and Trust Co, down as much as 2
percent, was the biggest drag on the index. 
    Malaysian stocks were trading slightly higher while
Vietnam shed 1.1 percent and Thai shares were
marginally down. 
    
For Asian Companies click;  
    
SOUTHEAST ASIAN STOCK MARKETS: AS AT 0402 GMT

 Change on day                             
 Market          Current   Previous Close  Pct Move
 Singapore       3566.47   3568.01         -0.04
 Bangkok         1778.93   1779.52         -0.03
 Manila          7542.18   7557.91         -0.21
 Jakarta         5976.652  6079.85         -1.70
 Kuala Lumpur    1857.33   1851.93         0.29
 Ho Chi Minh     1069.26   1080.74         -1.06
                                           
 Change on year                            
 Market          Current   End 2017        Pct Move
 Singapore       3566.47   3402.92         4.81
 Bangkok         1778.93   1753.71         1.44
 Manila          7542.18   8558.42         -11.87
 Jakarta         5976.652  6355.654        -5.96
 Kuala Lumpur    1857.33   1796.81         3.37
 Ho Chi Minh     1069.26   984.24          8.64
 
 (Reporting by Sumeet Gaikwad in Bengaluru; Editing by Vyas
Mohan)
  
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