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SE Asia Stocks-Most fall; Vietnam posts best week in 2017
November 10, 2017 / 10:27 AM / a month ago

SE Asia Stocks-Most fall; Vietnam posts best week in 2017

    By Karthika Suresh Namboothiri
    Nov 10 (Reuters) - Most Southeast Asian stock markets ended
lower on Friday, with the Philippines shedding 1 percent, while
Vietnam marked its best week this year as a six-session winning
streak lifted it to a fresh near-decade peak. 
    Broader Asian shares retreated amid uncertainty over U.S.
tax reforms as Senate Republicans unveiled a proposal that
differed markedly on corporate, business and individual tax cuts
from legislation detailed by their counterparts in the House of
Representatives.
    "Growing uncertainty about U.S. tax reforms spooked markets
yesterday and there seems to be no relief on the way from
elevated market volatility in the Asian session today," ING said
in a note.
    MSCI's broadest index of Asia-Pacific shares outside Japan
 fell 0.3 percent, after hitting a near decade
high in its previous session.
    The Philippine index ended at its lowest in a week,
dragged by real estate and industrial stocks. The index gained
about 0.7 percent this week.
    Property developer SM Prime Holdings ended at a
more than two-week low, while industrial conglomerate Aboitiz
Equity Ventures Inc fell 1.8 percent. 
    Singapore stocks slipped 0.1 percent, after three
continuous sessions of gains, marking a 1.1 percent gain on the
week.
    DBS Group Holdings ended 1.2 percent lower and was
the biggest drag on the index, a day after the lender ended at
its highest in nearly 18 years.
    Thai shares ended 0.8 percent lower, their weakest
in more than three weeks. The benchmark lost 0.7 percent on the
week.
    Stocks in the consumer discretionary and financials sectors
dragged the index, with home improvement services provider Home
Product Center Public Company and commercial bank
Kasikornbank Public Company Ltd shedding 3.8 percent
and 1.4 percent, respectively.
    The Indonesian index edged down 0.3 percent to its
lowest in more than a week, dragged by financials and
telecommunication stocks.
    Bank Central Asia Tbk ended at its lowest in more
than one week, while Telekomunikasi Indonesia closed
about 1 percent lower.
    The index of the country's 45 most liquid stocks
ended about 0.4 percent lower.
    Meanwhile, Vietnam stocks surged to close 0.9 percent
higher, led by consumer staples, with Vietnam Dairy Products
Joint Stock Company closing 7 percent higher.
    The index gained about 2.9 percent this week, marking its
best week since September 2016.
For Asian Companies click;  

SOUTHEAST ASIAN STOCK MARKETS: CHANGE ON DAY
  Change on the                                        
 day                                          
  Market           Current       Previous     Pct Move
                                 close        
  Singapore        3420.1        3423.91      -0.11
  Bangkok          1689.28       1703.03      -0.81
  Manila           8433.48       8519.82      -1.01
  Jakarta          6021.828      6042.46      -0.34
  Kuala Lumpur     1742.28       1746.81      -0.26
  Ho Chi Minh      868.21        860.4        0.91
                                              
  Change on year                              
  Market           Current       End 2016     Pct Move
  Singapore        3420.1        2880.76      18.72
  Bangkok          1689.28       1542.94      9.48
  Manila           8433.48       6840.64      23.28
  Jakarta          6021.828      5296.711     13.69
  Kuala Lumpur     1742.28       1641.73      6.12
  Ho Chi Minh      868.21        664.87       30.58
 

 (Reporting by Karthika Namboothiri in Bengaluru; Editing by
Amrutha Gayathri)
  

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