SE Asia Stocks-Slide on fears over BOJ bond-buying programme

miércoles 3 de agosto de 2016 06:46 GYT

By Hanna Paul
    Aug 3 (Reuters) - Most Southeast Asian stock markets fell on
Wednesday, in line with Asian peers as fears that the Bank of
Japan may retreat from its massive bond-buying campaign spooked
debt markets and investors globally. 
    While Japanese bonds steadied on Wednesday they have still
suffered the worst sell-off in over three years as investors
feared the BOJ was out of easing ammunition and might leave it
to fiscal policy to stimulate the economy. 
    Tokyo on Tuesday approved 13.5 trillion yen ($132 billion)
in fiscal measures, and the IMF urged Japan to mix fiscal
stimulus with further central bank easing measures that could
include rate cuts and more asset purchases. 
    "Prime Minister Shinzo Abe's stimulus details did not give
rise to much optimism, which in turn, has been inferred as a
cue, whereby Bank of Japan may not step up bond buying," said
Vishnu Varathan, senior economist at Mizuho Bank in Singapore.
    The Philippines lost 1.8 percent to a more than
three-week low, dragged down by industrial and financial stocks.
Infrastructure group Aboitiz Equity Ventures led the
losers, sliding 6.08 percent. 
    Philippine July inflation is seen at a 15-month high as the
consumer price index is expected to have risen 2.1 percent in
July from last year due to higher food prices, according to a
Reuters poll. 
    Singapore stocks slipped 1.02 percent to post their
biggest loss since June 29, pulled down by oil and financial
    Oversea-Chinese Banking Corp Ltd was down 2.8
percent, while Sembcorp Marine Ltd fell 1.9 percent.
    The market is worried about the pressure on cash flows of
oil companies in the backdrop of the continuous decline in oil
prices, added Varathan. 
    Indonesia ended down 0.4 percent after hitting a
more than one-year high in the previous session.
    Vietnam fell to its lowest in five weeks.
    Bucking the trend, Thai shares edged up 0.7 percent,
with healthcare and financial stocks being the best performers
on the index. 
    The Thai central bank kept its one-day repurchase rate
unchanged at 1.50 percent and said the current monetary policy
still supports the country's economic recovery. 
    For Asian Companies click;  


  STOCK MARKETS                                           
  Change on the day                                       
  Market              Current       previous     Pct Move
  Singapore           2827.58       2856.67      -1.02
  Bangkok             1507.47       1497.51      0.67
  Manila              7888.44       8037.78      -1.86
  Jakarta             5351.878      5373.323     -0.40
  Kuala Lumpur        1648.5        1660.23      -0.71
  Ho Chi Minh         631.61        636.05       -0.70
  Change on year                                 
  Market              Current       End prev yr  Pct Move
  Singapore           2827.58       2882.73      -1.91
  Bangkok             1507.47       1288.02      17.04
  Manila              7888.44       6952.08      13.47
  Jakarta             5351.878      4593.008     16.52
  Kuala Lumpur        1648.5        1692.51      -2.60
  Ho Chi Minh         631.61        579.03       9.08
 (Reporting by Hanna Paul; Editing by Sherry Jacob-Phillips)