SE Asia Stocks-Singapore, Philippines lead region lower as Fed gains fade

jueves 31 de marzo de 2016 00:34 GYT
 

By Nichola Saminather
    March 31 (Reuters) - Singapore led declines across southeast
Asian stock markets on Thursday, as the boost from a U.S.
Federal Reserve statement this week scaling back expectations
for interest rate hikes faded.
    Singapore's Straits Time Index slid 1 percent, on
track for a quarterly loss of 1.3 percent. 
    The Philippines lost 0.8 percent and Malaysia 
0.2 percent, shrinking gains for the quarter to 4.2 percent and
1.4 percent respectively. 
    Thailand's SET slipped 0.2 percent. However, the
index is on track for a quarterly jump of 9.2 percent.
    U.S. Federal Reserve Chair Janet Yellen on Tuesday
emphasised the need to proceed "cautiously" on tightening
policy, pushing back on a handful of her colleagues who have
suggested another move may be just around the corner.
. 
    Southeast Asian markets, which rose strongly on Wednesday on
the back of those comments, are now surrendering those gains. 
    "Yesterday's Yellen gains were temporary," said Mixo Das,
ASEAN equity strategist at Nomura in Singapore. "Market pricing
of Fed hikes is already very dovish -- not much room for it to
move further lower."
    The Jakarta Composite index was little changed, but
is set for a 4.8 percent quarterly gain.
    Vietnam, which fell in early trade, recovered to trade up
0.2 percent, narrowing losses for the quarter to 1.4 percent.
   
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SOUTHEAST ASIAN STOCK MARKETS
    
                                                           
 STOCK MARKETS                                             
 Change on the day                                         
 Market                   Current      Prev close  Pct Move
 Singapore                2845.26      2872.78     -0.96
 Bangkok                  1407.56      1410.29     -0.19
 Manila                   7365.7       7299.23     0.91
 Jakarta                  4812.796     4816.655    -0.08
 Kuala Lumpur             1714.75      1717.82     -0.18
 Ho Chi Minh              569.44       569.91      -0.08
                                                   
 Change so far this year                           
 Market                   Current      End prev    Pct Move
                                       yr          
 Singapore                2845.26      2882.73     -1.30
 Bangkok                  1407.56      1288.02     9.28
 Manila                   7365.7       6952.08     5.95
 Jakarta                  4812.796     4593.008    4.79
 Kuala Lumpur             1714.75      1692.51     1.31
 Ho Chi Minh              569.44       579.03      -1.66
 
 (Reporting by Nichola Saminather; Editing by Anand Basu)