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SE Asia Stocks-Most fall on foreign fund outflows; Thailand hits near 24-yr high
October 11, 2017 / 9:51 AM / 2 months ago

SE Asia Stocks-Most fall on foreign fund outflows; Thailand hits near 24-yr high

    By Shanima A
    Oct 11 (Reuters) - Most Southeast Asian stock markets ended
lower on Wednesday on foreign fund outflows ahead of the release
of minutes from the U.S. Federal Reserve's September meeting,
while Thai shares extended gains to their highest in nearly 24
years.
    The Fed minutes due later in day may bolster views of a
December rate hike and provide clues on the pace of U.S.
monetary policy tightening.
    "There has been some selling pressure from foreign funds in
the Asian markets since last month, attributed to the winding of
the balance sheet of the Fed and in anticipation of a Fed rate
hike by December," said Manny Cruz, an analyst with Asiasec
Equities.
    "It seems that there has been some realignment or
adjustments on the exposure of foreign funds on the Asian
markets."
    Philippine shares came off an all-time high to close
0.5 percent lower as consumer staples and industrial stocks
slipped. Robinsons Retail Holdings fell to a more than
two-week closing low, while LT Group declined 5.2
percent.    
    Indonesian shares fell 0.4 percent to a near
two-week closing low, hurt by declines in telecom stocks.
    Telekomunikasi Indonesia (Persero) dropped for the
third straight session, shedding 2.9 percent, while XL Axiata
 declined 4.7 percent to its lowest close since late
August.
    The index of the country's 45 most liquid stocks
fell 0.6 percent.
    Singapore shares shed 0.3 percent, hurt by losses in
financials, with DBS Group Holdings and
Oversea-Chinese Banking Corp off 0.7 percent and 0.9
percent respectively.
    Thailand's SET index rose as much as 0.7 percent to
its highest since January 1994, extending gains into a second
session after Prime Minister Prayuth Chan-ocha said on Tuesday
the country will hold general elections in November next year. 
    Lender Kasikornbank PCL led the gains, rising 2.4
percent to a more than four-week closing high.
    Vietnam shares jumped to a more than
nine-and-a-half-year high in their fourth straight session of
gains, with realtor Vingroup JSC rising 5.2 percent to
its highest ever close.
     
    
For Asian Companies click;  

SOUTHEAST ASIAN STOCK MARKETS: Change on day
  Market          Current      previous    Pct Move
                               close       
  Singapore       3280.28      3288.95     -0.26
  Bangkok         1714.14      1706.95     0.42
  Manila          8358.47      8398.04     -0.47
  Jakarta         5882.787     5905.762    -0.39
  Kuala Lumpur    1757.21      1761.13     -0.22
 Ho Chi Minh      813.95       810.65      0.41
                                           
  Change so far                            
 this year                                 
  Market          Current      End prev    Pct Move
                               yr          
  Singapore       3280.28      2880.76     13.87
  Bangkok         1714.14      1542.94     11.10
  Manila          8358.47      6840.64     22.2
  Jakarta         5882.787     5296.711    11.06
  Kuala Lumpur    1757.21      1641.73     7.03
 Ho Chi Minh      813.95       664.87      22.4
 
 (Reporting by Shanima A in Bengaluru; Editing by Subhranshu
Sahu)
  

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