January 31, 2018 / 10:32 AM / 4 months ago

SE Asia Stocks-Philippines extends losses; Thailand posts best mth in 1-1/2 yrs

    * Philippines sheds 1.6 pct, retreating further from record
    * Asian shares ex-Japan on course for best month since March
2016
    * Vietnam marks fifth consecutive monthly gain

    By Karthika Suresh Namboothiri
    Jan 31 (Reuters) - Philippine shares extended losses to a
second session on Wednesday, pulling further away from an
all-time high hit earlier this week, while Thailand ended
steady, marking its best month in 1-1/2 years.
    Asian stocks steadied after sliding on rising global bond
yields, with MSCI's broadest index of Asia-Pacific shares
outside Japan on course for a 6.6 percent
monthly gain, its biggest since March 2016.
    However, the U.S. Federal Reserve's monetary policy
statement due later in the day kept investors on guard.

    "Bond yields in the U.S. are rising, so there is a shift in
funds from emerging markets back to the U.S," said Lexter Azurin
from AB Capital Securities.
    Foreign Institutional Investor (FII) net outflows for
Philippines was $39.4 million on Tuesday, while Indonesia
recorded $88.9 million net outflows. Thailand's net outflows
stood at $81 million in the previous session. 
    Philippine shares ended 1.6 percent lower, after the
previous session's 1.6 percent drop, as industrials fell, with
SM Investment Corp shedding 6 percent.
    The index, however, climbed 2.4 percent in January, its
second straight monthly gain. 
    Thai shares ended flat, but rose 4.2 percent this
month, its best since July 2016.
    Energy stocks PTT Pcl and PTT Exploration and
Production PCL gained 1.6 percent each after Royal
Dutch Shell said it would sell its Bongkot gas field
stake to PTT Exploration & Production for $750 million before
tax.
    Meanwhile, data showed Thai private consumption contracted
in December from the previous month while investment rose
slightly, implying that a recovery in Southeast Asia's
second-largest economy is still patchy.
    Indonesian shares firmed 0.5 percent, bringing the
monthly gain to 3.9 percent after December's 6.8 percent surge.
    Lender PT Bank Pan Indonesia climbed to a record
close, while Telekom Indonesia finished 2.3 percent
higher.
    The index of the country's 45 most liquid stocks
ended 0.2 percent higher. 
    Singapore shares closed 0.4 percent lower, with
heavyweight Keppel Corp shedding 1.1 percent.
    The index, however, gained 3.9 percent this month after a
0.9 percent decline in December.
    Vietnam shares finished flat, marking a fifth
consecutive monthly gain, with Petrovietnam Gas Joint Stock
 rising to a three-year closing high.
    Malaysia was closed for a public holiday.
    
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SOUTHEAST ASIAN STOCK MARKETS
 Change on the day                            
 Market             Current   Previous close  Pct Move
 Singapore          3533.99   3548.74         -0.42
 Bangkok            1826.86   1826.61         0.01
 Manila             8764.01   8910.48         -1.64
 Jakarta            6605.631  6575.492        0.46
 Ho Chi Minh        1110.36   1110.56         -0.02
                                              
 Change on year                               
 Market             Current   End 2017        Pct Move
 Singapore          3533.99   3402.92         3.85
 Bangkok            1826.86   1753.71         4.17
 Manila             8764.01   8558.42         2.40
 Jakarta            6605.631  6355.654        3.93
 Ho Chi Minh        1110.36   984.24          12.81
 

 (Reporting by Karthika Suresh Namboothiri; Additional reporting
by Gaurav S. Dogra; Editing by Amrutha Gayathri)
  
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