May 4, 2018 / 10:29 AM / 22 days ago

SE Asia Stocks-Most fall; Indonesia hits 9-month closing low

    * Investors await U.S. payrolls data
    * Malaysia hits near 1-mth closing low
    * Philippines falls for fifth straight week

    By Sumeet Gaikwad
    May 4 (Reuters) - Most Southeast Asian markets fell on
Friday on caution ahead of U.S. payrolls data, with Indonesia
hitting a nine-month closing low on worries of an economic
slowdown even as foreign investors continued to cut down their
equity holdings.
    U.S. job growth likely accelerated in April. Resilience in
the U.S. economy could prompt the Fed to increase the pace of
its rate hikes, potentially drawing capital away from regional
markets.
    Investors were also keeping a close watch on U.S.-China
trade talks.    
    In Southeast Asia, the Jakarta index hit a near
nine-month closing low. Bank Central Asia fell 1.2
percent and Bank Negara Indonesia dropped 3.2 percent.
The index fell 2.1 percent over the week. 
    An index of the country's 45 most liquid stocks was down 1.5
percent.
    Indonesia's GDP growth rate likely was a touch weaker in
2018's first three months than in the previous quarter, a
Reuters poll showed. The country is due to release its annual
GDP data on May 7.    
    Foreign investors net sold $60.4 million worth of Indonesian
stocks on Friday, according to stock exchange data.
    "We suspect the murky economic outlook amid low inflationary
pressures have triggered the selloff. Further, we remain
concerned that Bank Indonesia may be too much behind the yield
curve," said Taye Shim, head of research at Mirae Asset
Sekuritas.
    Malaysian shares closed 0.5 percent lower as 
financials weighed. CIMB Group Holdings fell 3.3
percent and Malayan Banking dropped 0.8 percent. The
index fell more than 1 percent this week.
    Meanwhile, all eyes are on the outcome of general elections
scheduled next week for fresh cues. 
    "Investors will be looking forward to policy continuity
which will be crucial to ensuring economic stability," DBS Bank
said in a note.
    Singapore shares closed at their lowest in over two
weeks as financials declined. The index snapped five straight
weekly gains and ended the week lower.
    "For Singapore, traders may be adopting a buy-on-dip
strategy, while keeping positions light. Ultimately, it's a
fight between corporate earnings and interest rates," said Liu
Jinshu, director of research at NRA Capital in Singapore.
    Philippine shares cut early losses and ended
marginally higher buoyed by industrials. The index fell for its
fifth straight week.
    Philippine consumer prices accelerated in April at their
fastest pace in at least five years.
    Thai shares were down 0.6 percent for the day, but
ended the week marginally higher.
    
For Asian Companies click;  

SOUTHEAST ASIAN STOCK MARKETS
    
 Change on the day                            
 Market             Current   Previous close  Pct Move
 Singapore          3545.38   3575.68         -0.85
 Bangkok            1779.87   1791.13         -0.63
 Manila             7546.19   7535.1          0.15
 Jakarta            5792.345  5858.732        -1.13
 Kuala Lumpur       1841.83   1851.8          -0.54
 Ho Chi Minh        1026.8    1026.46         0.03
                                              
 Change on year                               
 Market             Current   End 2017        Pct Move
 Singapore          3545.38   3402.92         4.19
 Bangkok            1779.87   1753.71         1.49
 Manila             7546.19   8558.42         -11.83
 Jakarta            5792.345  6355.654        -8.86
 Kuala Lumpur       1841.83   1796.81         2.51
 Ho Chi Minh        1026.8    984.24          4.32
 
 (Reporting by Sumeet Gaikwad in Bengaluru; Editing by Vyas
Mohan)
  
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