SE Asia Stocks-Most down ahead of U.S. Fed chief speech

lunes 28 de marzo de 2016 03:26 GYT

March 28 (Reuters) - Most Southeast Asian stock markets fell
on Monday with Indonesia hitting its lowest in more than two
weeks led by financials as investors cautiously awaited cues on
U.S. economic growth from the Federal Reserve chief. 
    Federal Reserve Chair Janet Yellen will speak on U.S.
economic outlook and monetary policy on Tuesday. A few other Fed
policymakers are also due to speak on the same day, making the
Fed's policy the biggest focus for now.. 
    The Jakarta Composite Index (JCI) was down 1.3 percent at
0651 GMT, hovering at its lowest since March 10. 
    "JCI has underperformed in the absence of key catalysts,"
said John Teja, director at Jakarta-based Ciptadana Securities.
"Possible Fed rate hike in April and weakness of rupiah in line
with other emerging currencies is also pressurising."
    Singapore was down 0.7 percent at its lowest since
March 11, Thai stocks traded 0.3 percent weaker, the
Philippines lost 0.7 percent, and Malaysia was
down 0.2 percent. 
    The Singapore index is likely to consolidate this week given
the lack of fresh factors, Net Research Asia said in note to
investors, while analysts in Bangkok said the focus was on the
Fed and U.S. economic growth.
    Bucking the trend, Vietnam's benchmark VN Index 
gained 0.5 percent.
    European markets are closed for the Easter Monday holiday.
For Asian Companies click;  

 Change at 0712 GMT
 Market             Current     Prev Close    Pct Move
 Singapore          2826.69       2847.39       -0.73
 Kuala Lumpur       1700.72       1703.79       -0.18
 Bangkok            1390.05       1394.78       -0.34
 Jakarta            4764.71       4827.09       -1.29
 Manila             7306.19       7360.05       -0.73
 Ho Chi Minh         575.01        572.08       +0.51
 (Reporting by Shihar Aneez; Editing by Sunil Nair)