October 8, 2018 / 4:59 AM / 2 months ago

SE Asia Stocks-Singapore falls further ahead of policy review; Philippines recovers

    * Singapore cenbank decision due on Oct 12
    * Philippines up after 2 sessions of falls

    By Niyati Shetty
    Oct 8 (Reuters) - Singapore shares extended falls on Monday
ahead of a central bank policy review this week, while
Philippine stocks rose after two straight sessions of declines.
    A slim majority in a Reuters poll of economists predict a
tightening at the policy review on Friday, with the bank seen
trying to balance the risks to growth and inflation amid global
trade frictions.
    The central bank's semi-annual policy statement will also
have the government's advance estimate of third-quarter gross
domestic product, which likely grew 2.5 percent year-on-year,
down from 3.9 percent in April-June.
    Singapore's FTSE Straits Times Index declined for a 
third straight session with Jardine Matheson Holdings
shedding as much as 1.1 percent, while Oversea-Chinese Banking
Corp fell 0.8 percent. 
    Broader Asian markets declined following Chinese markets
which opened lower after a week-long holiday, despite its
central bank slashing banks' reserve requirements, a sign of
underlying investor anxiety over a heated Sino-U.S. trade war.
    The People's Bank of China cut the level of cash that banks
must hold as reserves, the fourth time this year, stepping up
moves to lower financing costs and spur growth amid concerns
over the economic drag from an escalating trade dispute with the
United States.
    Meanwhile, Philippine shares recovered after shedding
2.7 percent last week in their fifth consecutive weekly decline.
    Data released on Friday showed annual inflation accelerated
last month to its highest in almost a decade, although officials
say they see signs that inflation may have already peaked.

    Telecom and financial stocks were among the top boosts with
PLDT Inc gaining 3.5 percent and BDO Unibank
rising 1.5 percent.      
    Vietnam stocks declined 0.3 percent to a more than
two-week low, hurt by utilities and consumer stocks. 
    Petrovietnam Gas fell 2.5 percent and Vietnam Dairy
Products slid 1 percent. 
    Indonesian shares advanced 0.4 percent, with
Unilever Indonesia Tbk and Bank Central Asia Tbk
 gaining 2.6 percent and 1.3 percent, respectively. 
    
For Asian Companies click;  

SOUTHEAST ASIAN STOCK MARKETS AS AT 0452 GMT
 Market             Current   Previous close  Pct Move
 Singapore          3191.2    3209.79         -0.58
 Bangkok            1714.68   1720.52         -0.34
 Manila             7117.37   7078.2          0.55
 Jakarta            5752.898  5731.935        0.37
 Kuala Lumpur       1777.07   1777.15         0.00
 Ho Chi Minh        1005.39   1008.39         -0.30
                                              
 Change on year                               
 Market             Current   End 2017        Pct Move
 Singapore          3191.2    3402.92         -6.22
 Bangkok            1714.68   1753.71         -2.23
 Manila             7117.37   8558.42         -16.84
 Jakarta            5752.898  6355.654        -9.48
 Kuala Lumpur       1777.07   1796.81         -1.10
 Ho Chi Minh        1005.39   984.24          2.15
 
 (Reporting by Niyati Shetty in Bengaluru; Editing by Subhranshu
Sahu)
  
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