SE Asia Stocks-Most fall on U.S. rate outlook; quarterly results in focus

lunes 20 de julio de 2015 04:26 GYT
 

BANGKOK, July 20 (Reuters) - Most Southeast Asian stock
markets fell on Monday as investors pared equity holdings in
anticipation of a U.S. interest rate hike this year, while the
Thai benchmark dropped to a more than one-week low, led by
energy and bank shares.
    The Thai SET index was down 0.6 percent at 1469.97,
the lowest since July 9. Shares of top energy firm PTT Pcl
, the most actively traded by turnover, dropped 1.5
percent as global oil prices edged lower. 
    The banking sub-index was down 0.4 percent. Shares
in Kasikornbank Pcl eased 0.3 percent after the bank
reported higher non-performing loans and a lower net profit for
the second quarter. 
    The SET index is set for another sideways session on Monday,
strategists at broker KGI Securities wrote in report.
    "Although the Greek debt crisis has bottomed out, traders
seem to have shifted their concerns from Greece to the timing of
the U.S. Fed rate hike," they said.
    Federal Reserve Chair Janet Yellen said last week the U.S.
central bank remains on track to raise interest rates this year,
with labour markets expected to steadily improve and turmoil
abroad unlikely to throw the U.S. economy off
track. 
    In the Philippines, the key index shed 1 percent,
reversing from a near three-week closing high on Thursday before
the market closed for a holiday.
    Data early on Monday showed the Philippines ran a 86.4
billion pesos ($1.91 billion) budget surplus in the first five
months of 2015, more than ten times higher than a year earlier,
hurting chances of faster second-quarter economic growth.
 
    Stocks in Malaysia retreated after rising to the
highest since July 3 earlier in the day, while Vietnam 
shares hit the lowest since July 9. Singapore stocks
bucked the trend, climbing to the highest since June 2.
    Investors in Southeast Asia awaited corporate quarterly
financial results, brokers said. Indonesia's stock market
 will remain closed through July 21 for Eid al-Fitr
celebrations. 
    The U.S. dollar held firm in Asia on Monday as investors
looked ahead to higher interest rates from the Federal Reserve,
while gold slumped to five-year lows as a lack of global
inflation left little to hedge against. 
    
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SOUTHEAST ASIAN STOCK MARKETS
 Change at 0732 GMT
 Market             Current     Prev Close    Pct Move
 Singapore          3368.80       3353.45       +0.46
 Kuala Lumpur       1723.49       1726.73       -0.19
 Bangkok            1469.97       1479.31       -0.63
 Manila             7541.17       7617.13       -1.00
 Ho Chi Minh         622.60        628.63       -0.96
 
 (Reporting by Viparat Jantraprap; Editing by Anupama Dwivedi)