SE Asia Stocks-Mixed; eyes on U.S. Fed chief speech

martes 29 de marzo de 2016 03:06 GYT
 

March 29 (Reuters) - Southeast Asian stock markets traded
mixed on Tuesday as investors turned cautious after sluggish
U.S. consumer spending data and moderating inflation in February
suggested the Fed may opt for caution on rate increases this
year. 
    Monday's report from the U.S. Commerce Department also
showed consumer spending in January was not as strong as
previously reported. That, together with other data showing a
widening in the goods trade deficit in February, indicated
economic growth remained sluggish in the first quarter.
 
    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.. 
    Indonesia's Jakarta Composite Index was 0.1 percent
higher at 0634 GMT, recovering from a near one-month closing low
hit in the previous session, while the Thai index edged
up 0.1 percent. 
    Singapore fell 0.3 percent, led by a 0.5 percent
decline in Singapore Telecommunications Ltd. 
    "We expect the local bourse to continue to range trade given
the lack of fresh factors and the conviction that the economy
has not seen its bottom with likely more correction to come,"
Singapore-based Net Research Asia said in note. 
    The Philippine composite index was down 0.8 percent,
while Malaysia rose 0.6 percent. 
    Vietnam's benchmark VN Index fell 0.4 percent,
heading for its first drop in three sessions in a technical
correction, led by energy stocks as oil prices declined.
 
    
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SOUTHEAST ASIAN STOCK MARKETS
 Change at 0631 GMT
 Market             Current     Prev Close    Pct Move
 Singapore          2821.28       2830.29       -0.31
 Kuala Lumpur       1712.75       1702.41       +0.61
 Bangkok            1390.73       1389.01       +0.12
 Jakarta            4776.67       4773.63       +0.06
 Manila             7276.95       7334.52       -0.78
 Ho Chi Minh         572.39        575.72       -0.39
 
 (Reporting by Shihar Aneez; Editing by Biju Dwarakanath)