SE Asia Stocks-Philippine index posts biggest daily loss in 2 months

lunes 2 de mayo de 2016 05:32 GYT

JAKARTA, May 2 (Reuters) - The Philippine stock index posted
its biggest single-day decline in two months ahead of elections
in the country, while disappointing corporate earnings continued
to hurt sentiment in Indonesia.
    The Philippine index fell 1.47 percent to close at
its lowest since March 10. The index posted its biggest one-day
loss since Feb. 29, ahead of the May 9 election, as a lack of
clarity about presidential front-runner Rodrigo Duterte's
economic policy caused market jitters.
    "He has not been very specific on his economic policy,
that's why there have been market jitters. He appeared before a
business group last week and it was not received favourably,"
Luz Lorenzo, an analyst with Maybank Kim Eng in Manila said.
    Indonesia's stock index fell 0.6 percent on
lingering disappointment over first-quarter results.
    Other Southeast Asian stock markets were closed to mark the
May 1 Labour Day holiday, which fell on Sunday.

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 Change on day
 Market         Current     Prev      Pct
                           close    change
 Jakarta         4808.32   4838.58    -0.63
 Manila          7053.88   7159.29    -1.47
 Change on year
 Market         Current   End 2015    Pct
 Singapore       2838.52   2882.73    -1.53
 Kuala Lumpur    1672.72   1692.51    -1.17
 Bangkok         1404.61   1288.02     9.05
 Jakarta         4808.32  4593.008     4.69
 Manila          7053.88   6952.08     1.46
 Ho Chi Mihn      598.37    579.03     3.34

 (Reporting by Fransiska Nangoy; ; Editing by Biju Dwarakanath)