SE Asia Stocks-Mostly down ahead of Fed, BOJ meetings; Thai shares up
JAKARTA, April 26 (Reuters) - Most Southeast Asian stock markets fell for a second straight day on Tuesday, led by Indonesia, as cautious investors adopted a wait and watch approach ahead of central bank meetings in the United States and Japan later this week. However, the Thai SET index and the Vietnam index bucked the trend, helped by commodities and financial shares respectively. Indonesia's Jakarta Composite Index ended 1.3 percent down at a more than two-week closing low, led by financial stocks, while poor earnings expectations dragged large caps lower. Jakarta-based Trimegah Research said in a note it expects Indonesian conglomerate PT Astra International Tbk and heavy equipment distributor United Tractors to post disappointing earnings for the March quarter. Astra shares ended 2 percent down while those of United Tractors fell 3.1 percent. "The market sentiment remained weak with selling pressure across the board as worries continued on the first quarter earnings outlook and ahead of the Fed meeting this week," said John Teja, director at Jakarta-based Ciptadana Securities. Bank of Japan policymakers are likely to discuss further easing when they meet on Wednesday and Thursday. The U.S. Federal Reserve, which lifted its benchmark overnight interest rate in December for the first time in nearly a decade, is expected to hold interest rates steady this week. The Singapore share index fell 0.2 percent to a near two-week low, led by financial stocks. Malaysia's stock index closed 1.3 percent weaker as Kuala Lumpur's stock market suffered a $56.10 million net foreign outflow on Tuesday. Philippines Composite Index was 0.5 percent weaker. The Thai SET index closed 0.7 percent up, while Vietnam closed 1.2 percent higher, with volumes rising to more than a five-week high. For Asian Companies click; SOUTHEAST ASIAN STOCK MARKETS Change on the day Market Current previous close Pct Move Singapore 2894.66 2900.28 -0.19 Bangkok 1418.78 1408.71 0.71 Manila 7211.92 7250.13 -0.53 Jakarta 4814.093 4878.862 -1.33 Kuala Lumpur 1692.5 1714.51 -1.28 Ho Chi Minh 598.48 591.58 1.17 Change in 2016 Market Current End prev yr Pct Move Singapore 2894.66 2882.73 0.41 Bangkok 1418.78 1288.02 10.15 Manila 7211.92 6952.08 3.74 Jakarta 4814.093 4593.008 4.81 Kuala Lumpur 1692.5 1692.51 0.00 Ho Chi Minh 598.48 579.03 3.36 ($1 = 3.9200 ringgit) (Reporting by Shihar Aneez; Editing by Anupama Dwivedi)
© Thomson Reuters 2016 All rights reserved.