SE Asia Stocks-Mixed, Singapore retreats after weak January exports
BANGKOK, Feb 17 (Reuters) - Southeast Asian stock markets were mixed on Wednesday as Asian shares retreated, with Singapore reversing from a three-day rally after a larger-than-expected fall in January exports. Singapore's key Straits Times Index was down 1.3 percent, trimming some of the 4.2 percent combined gains made over three consecutive sessions to Tuesday. The city-state's non-oil domestic exports (NODX) tumbled 9.9 percent in January as sales to major market China collapsed, adding to expectations its monetary policy will need to ease further to take some of the sting off weak global demand and put the trade-reliant economy back on track. Shares of CapitaLand Ltd dropped 1 percent after the company posted a near 40 percent fall in fourth-quarter net profit. Thai stocks drifted into negative territory after two days of gains. "In the near term, the upside room remains limited for Thai stocks with a risk of some correction in the absence of fresh positive catalysts and as the earnings season is about to wind down next week," broker Phillip Securities said in a report. Shares of Airports of Thailand jumped 4 percent after the company reported better-than-expected quarterly earnings. Malaysia and Vietnam were little changed and the Philippines posted modest gains. The Indonesian index rose for a third day with the country's central bank expected to cut interest rates on Thursday. Asian shares, as measured by MSCI's broadest index of Asia-Pacific shares outside Japan, slipped 0.7 percent after two sessions of solid gains. For Asian Companies click; SOUTHEAST ASIAN STOCK MARKETS Change at 0805 GMT Market Current Prev Close Pct Move Singapore 2610.88 2644.58 -1.27 Kuala Lumpur 1665.61 1664.99 +0.04 Bangkok 1281.95 1289.36 -0.57 Jakarta 4759.96 4745.00 +0.32 Manila 6756.82 6743.95 +0.19 Ho Chi Minh 547.05 548.05 -0.18 (Reporting by Viparat Jantraprap; Editing by Anupama Dwivedi)
© Thomson Reuters 2016 All rights reserved.