September 28, 2017 / 4:36 AM / a year ago

SE Asia Stocks-Philippines drops on profit-taking; others tread water

    By Aaron Saldanha
    Sept 28 (Reuters) - Philippine shares fell in low-volume
trade on Thursday, heading for a fourth session of decline in
five, as investors continued to book profits after the market
hit a record high earlier this month.
    The Philippine stock index dropped as much as 0.8
percent, making it the worst performer in Southeast Asia.
    Industrials and financials accounted for most of the
decline, with JG Summit Holdings and SM Investments
Corp shedding as much as 3.3 percent and 1.1 percent,
    "It is still some profit-taking but I think this is a
healthy correction and looking forward, a further advance in the
Philippine index could still be justified, particularly with our
forecasted earnings growth for the year," said Jeffrey Lucero, 
an equity research analyst with Manila-based RCBC Securities.
    The Philippine stock index had gained 20.2 percent this year
as of Wednesday's close, making it Southeast Asia's second best
    Most other markets in the region traded in a narrow range in
the absence of any triggers, while the dollar traded near a
one-month high against a basket of currencies, underpinned by
hopes that U.S. President Donald Trump's administration may be
making progress on fiscal reforms.
    "Today's story is depreciation in currencies - the Asian
forex, due to a strong rise in the U.S. dollar," said Rakpong
Chaisuparakul, an analyst with Bangkok-based KGI Thailand.
    The Indonesian rupiah hit a nine-month low, while
shares were little changed.
    Malaysian shares fell as much as 0.2 percent,
dragged down by utilities and telecoms. 
    Electricity generator and distributor Tenaga Nasional Bhd
 was the biggest drag, falling 0.3 percent. 
    Meanwhile, Singapore shares rose 0.1 percent,
buffeted by gains in financials.
    Oversea-Chinese Banking Corp was on track for a
seventh straight gain, while DBS Group Holdings was
headed for a second consecutive rise.
    Vietnam shares were the biggest gainers in Southeast
Asia, rising 0.3 percent on the back of gains in the consumer
staples sector.
    Chuong Dong Beverages Joint Stock Co was the
biggest boost with a jump of 7 percent.

For Asian Companies click;  

  Change on day                                    
  Market          Current      Previous    Pct Move
  Singapore       3238.47      3236.15     0.07
  Bangkok         1673.08      1670.27     0.17
  Manila          8166.13      8221.92     -0.68
  Jakarta         5856.98      5863.027    -0.10
  Kuala Lumpur    1762.34      1764.24     -0.11
  Ho Chi Minh     806.19       803.77      0.30
  Change on year                           
  Market          Current      End 2016    Pct Move
  Singapore       3238.47      2880.76     12.42
  Bangkok         1673.08      1542.94     8.43
  Manila          8166.13      6840.64     19.38
  Jakarta         5856.98      5296.711    10.58
  Kuala Lumpur    1762.34      1641.73     7.35
  Ho Chi Minh     806.19       664.87      21.26
 (Reporting by Aaron Saldanha, Additional reporting by Christina
Martin; Editing by Subhranshu Sahu)
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