December 20, 2018 / 9:54 AM / a year ago

SE Asia Stocks-Slip tracking broader Asia as Fed retains rate hike plan

    * Thailand falls after energy stocks down on oil slump
    * People were hoping Fed would extend a lifeline - analyst
    * Indonesia leads losses in the region

    By Rashmi Ashok
    Dec 20 (Reuters) - Southeast Asian stock markets ended lower
on Thursday with Indonesia falling the most, after the U.S.
Federal Reserve raised key interest rate and retained plans for
continued hikes next year, crushing investor hopes for a more
dovish outlook.
    Regional stocks fell in line with broader Asian peers, after
the U.S. central bank hiked rates for the fourth time this year
and stuck by its plan to keep withdrawing support from an
economy it views as strong.
    "Against the backdrop of the trade war and weak economic
data from major economies, people were hoping the Fed would
extend a lifeline," said Fio Dejesus, an equity research analyst
at RCBC Securities in Manila. "But their mandate was different
from what the market hoped for."
    Recent disappointing data from the United States on slowing
of job growth in November and a cooling housing market, along
with weak manufacturing data from China heavily weighed on
investor sentiment, sparking concerns over global growth.
    The Indonesian index finished lower and was the
worst performer in the region, with financial stocks coming
under pressure. 
    Shares of Bank Central Asia Tbk and Bank Mandiri
(Persero) Tbk were among top losers, falling 2.2
percent and 1.7 percent, respectively.
    Thailand's energy-heavy index suffered an additional
blow after oil prices resumed their fall on Thursday amid
worries of a supply glut and gloomy outlook for demand. 
    Shares of oil and gas explorers PTT PCL and PTT
Exploration and Production PCL shedding 0.5 percent
and 1.7 percent, respectively.
    Singapore's index gave up modest gains early in the
session to end lower, with shares of port operator Hutchison
Port Holdings Trust losing 1.9 percent while those of
agribusiness operator Wilmar International Ltd ending
1 percent lower.
    The Malaysian index edged lower with Sime Darby
Plantation Berhad's counter closing 1.4 percent down,
while that of IHH Healthcare Berhad ending 2.6 percent
    Vietnam's index traded sideways through most of the
session to edge down at close.
    The Philippine index lost most during early trade but
pared losses to inch down at close. Industrial stocks were the
biggest drag on the index, with shares of sector heavyweight SM
Investments Corp closing 2.1 percent lower.
For Asian Companies click;  

 Change on the day                            
 Market             Current   Previous close  Pct Move
 Singapore          3050.62   3058.65         -0.26
 Bangkok            1596.1    1601.12         -0.31
 Manila             7563.41   7579.62         -0.21
 Jakarta            6147.876  6176.094        -0.46
 Kuala Lumpur       1650.56   1655.66         -0.31
 Ho Chi Minh        918.24    919.24          -0.11
 Change on year                               
 Market             Current   End prev yr     Pct Move
 Singapore          3050.62   3402.92         -10.35
 Bangkok            1596.1    1753.71         -8.99
 Manila             7563.41   8,558.42        -11.63
 Jakarta            6147.876  6,355.65        -3.27
 Kuala Lumpur       1650.56   1796.81         -8.14
 Ho Chi Minh        918.24    984.24          -6.71

 (Reporting by Rashmi Ashok in Bengaluru; Editing by Rashmi
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