SE Asia Stocks - Most weak ahead of Fed meet, Singapore at 5-wk lows

martes 16 de septiembre de 2014 03:02 GYT

BANGKOK, Sept 16 (Reuters) - Singapore shares fell to more
than five-week lows on Tuesday amid a selloff in property
stocks, while other markets in Southeast Asia were
flat-to-weaker as investors awaited the Federal Reserve's
meeting for clues on U.S. monetary policy.
    Singapore's Straits Times Index fell for a third
day, down 0.8 percent to 3,285.71, the lowest since Aug. 8.
    Shares of property developers such as CapitaLand,
extended Monday's falls due to weak monthly sales
    The cautious mood prompted broad selling, with Noble Group
 and Genting Singapore among the top losers.
    In Jakarta, the Composite Index was a tad lower
after a range-bound session, while the Philippine index 
gained modestly, rebounding from a near two-week closing low on
    The Thai SET index rose slightly. Broker KGI
Securities expects a possible weakness in the index but the SET
is unlikely to move below 1,550 from the current level of
    "Expectation on Fed signal was more mixed after U.S. factory
output slowed, which may show that the U.S. economic recovery
has yet to be broad-based and an imminent interest rate hike may
be unnecessary," KGI Securities said in a
    Energy shares were mixed, with PTT up 0.6 percent
and PTT Global Chemical down 0.8 percent, as the
government restructures the energy industry, including a
potential reform.
    "PTT stands to gain the most from the reform through NGV and
LPG re-pricing," said KGI. "On the other hand, PTTGC stands to
lose as much as 3.4-5.2 billion baht a year to its bottom-line
or 10-15 percent to fiscal year 2015F estimates."
    Elsewhere, Vietnam's benchmark VN Index dropped 1
percent as cautious investors offloaded stocks because of two
exchange-traded funds' review week. 
    Malaysia is shut for a holiday and will reopen on
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 Change at 0617 GMT
 Market             Current     Prev Close    Pct Move
 Singapore          3285.71       3312.47       -0.81
 Bangkok            1581.63       1579.12       +0.16
 Jakarta            5140.08       5144.89       -0.09
 Manila             7178.18       7161.27       +0.24
 Ho Chi Minh         623.66        630.34       -1.06
 (Reporting by Viparat Jantraprap; Editing by Prateek