August 21, 2019 / 4:48 AM / 3 months ago

SE Asia Stocks-Most fall as investors await Fed policy stance

    * Singapore down up to 0.6%, snaps 2 sessions of gains
    * Minutes of July Fed meet due later on Wednesday
    * Thai shares gain after July exports rise unexpectedly 

    By Niyati Shetty
    Aug 21 (Reuters) - Most Southeast Asian markets fell on
Wednesday, with Singapore leading declines, as investors waited
for minutes of U.S. central bank's July meeting.  
    The markets look forward to hints about any further monetary
policy easing, following global recession fears that dampened
risk sentiment last week. 
    "Asian markets may see some retracement today (Wednesday)
amid some modest profit-taking" ahead of the Fed's July minutes
due later in the day and Chair Jerome Powell's speech on Friday,
OCBC Bank said in a note to clients. 
    Singapore stocks declined after two sessions of
gains, with financial and industrial sectors weighing on the
index. Jardine Strategic Holdings fell 2% and United
Overseas Bank slipped 1.1%.   
    Indonesian equities declined as financials took a
toll. Lenders Bank Mega Tbk PT and Bank Mandiri
(Persero) Tbk PT slumped 8.1% and 1.4%, respectively. 
    Meanwhile, the Thai bourse climbed after data on
Wednesday showed custom-cleared annual exports rose 4.28% in
July from a year ago, contrary to a 2.3% drop expected in a
Reuters poll.
    The data comes a day after Thailand's finance ministry cut
its 2019 economic growth forecast to 3.0% from the 3.8% it
projected in April, due to falling exports.
    Oil & gas explorer PTT Exploration and Production
added 1.7%, while trading firm Berli Jucker rose 3.8%.
    Vietnam stocks were poised to gain for a sixth
straight session. 
    Philippine markets were closed for a holiday. 
For Asian Companies click;  

 Market                 Current  Previous close  Pct Move
 Singapore              3119.84  3135.95         -0.51
 Bangkok                1634.25  1625.57         0.53
 Jakarta                6262.59  6295.738        -0.53
 Kuala Lumpur           1599.66  1602.75         -0.19
 Ho Chi Minh            990.89   984.67          0.63
 Change so far in 2019                           
 Market                 Current  End 2018        Pct Move
 Singapore              3119.84  3068.76         1.66
 Bangkok                1634.25  1563.88         4.50
 Manila                 7886.91  7,466.02        5.64
 Jakarta                6262.59  6,194.50        1.10
 Kuala Lumpur           1599.66  1690.58         -5.38
 Ho Chi Minh            990.89   892.54          11.02
 (Reporting by Niyati Shetty in Bengaluru; editing by
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