SE Asia Stocks-Mostly down on concern over possible Fed rate hike

viernes 13 de noviembre de 2015 02:00 GYT
 

Nov 13 (Reuters) - Most Southeast Asian stock markets fell
on Friday, with Singapore and the Philippines leading the
declines after U.S. Federal Reserve officials' comments on a
likely December interest rate hike dented sentiment.
    Singapore's Straits Times Index dropped as much as
1.3 percent to its lowest since Oct. 7 and the Philippine
benchmark index fell as much as 0.8 percent to its lowest
since Oct. 5. Both indexes were dragged down by financial and
industrial shares. 
    U.S. Fed officials lined up behind a likely December
interest rate hike with one key central banker saying the risk
of waiting too long was now roughly in balance with the risk of
moving too soon to normalize rates after seven years near zero.
 
    Other Fed policymakers argued that inflation should rebound,
allowing the Fed to soon lift rates from near zero though
probably proceed gradually after that.
    Investor sentiment was also dented due to a plunge in
commodity prices to multi-year lows on worries that slower
global growth may worsen a supply glut.
    Oversea-Chinese Banking Corp fell 0.9 percent and
United Overseas Bank was down 1.1 percent, dragging
the overall index in Singapore.
    Malaysia and Thailand edged down 0.1 percent
each. 
    Bucking the trend, the Jakarta Composite Index was
up 0.3 percent, while Vietnam was 0.1 percent firmer. 
    
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SOUTHEAST ASIAN STOCK MARKETS
 Change at 0542 GMT
 Market             Current     Prev Close    Pct Move
 Singapore          2925.17       2959.01       -1.14
 Kuala Lumpur       1661.43       1663.20       -0.11
 Bangkok            1383.24       1384.29       -0.08
 Jakarta            4475.55       4462.23       +0.30
 Manila             6854.70       6909.82       -0.80
 Ho Chi Minh         606.13        605.58       +0.09
 
 (Reporting by Shihar Aneez; Editing by Subhranshu Sahu)