SE Asia Stocks-Fall on U.S. rate rise concerns

jueves 19 de mayo de 2016 06:13 GYT

By Bhumika Sahani
    May 19 (Reuters) - Southeast Asian stocks fell on Thursday,
in line with Asian markets, as the likelihood of a U.S. rate
increase in June lifted the dollar to a near two-month high and
left bonds, stocks, commodities and emerging markets all nursing
    Minutes from the Federal Reserve's last meeting took the
market off guard after they revealed most policymakers thought a
June rise would be appropriate if the U.S. economy continued its
recent improvement. 
    MSCI's broadest index of Asia-Pacific shares outside Japan
 fell more than 1 percent to its lowest since
March 9.  
    "In general, a rate hike in June could be seen as a
positive, as it suggests that the US economy is doing a lot
better," said Carey Wong of Singapore-based OCBC Investment
    "But market remains divided if other central banks will
follow in the Fed's footstep, and that could create some
uncertainty and increased volatility."      
    Philippines fell nearly 1.5 percent, its first loss
in five sessions, shrugging off strong quarterly GDP growth data
released earlier in the day. 
    Financial stocks took a hit, with heavyweights Bank
of the Philippine Islands and Metropolitan Bank and
Trust Co closing 1.1 percent and 3.2 percent lower,
    Singapore's Straits Times index fell 1.3 percent.
    Financial stocks, the biggest constituent of
the index, fell 1 percent, dragged down by United Overseas Bank
Ltd and DBS Group Holdings Ltd.
    Indonesia hit a near three-month closing low, led
down by telecom and utilities, while Thailand fell 1
percent to a one-week closing low.
    For Asian Companies click ;

  STOCK MARKETS                                 
  Change on day                                 
  Market         Current     Previous   Pct Move
  Singapore      2740.11     2777.11    -1.33
  Bangkok        1385.86     1400.5     -1.05
  Manila         7427.33     7534.3     -1.42
  Jakarta        4704.217    4734.357   -0.64
  Kuala Lumpur   1633.76     1635.72    -0.12
  Ho Chi Minh    619.2       622.45     -0.52
  Change on                             
  Market         Current     End 2015   Pct Move
  Singapore      2740.11     2882.73    -4.95
  Bangkok        1385.86     1288.02    7.60
  Manila         7427.33     6952.08    6.84
  Jakarta        4704.217    4593.008   2.42
  Kuala Lumpur   1633.76     1692.51    -3.47
  Ho Chi Minh    619.2       579.03     6.94

 (Reporting by Bhumika Sahani; Editing by Biju Dwarakanath)