SE Asia Stocks-Soft as speculation over China stimulus hits risk appetite

miércoles 10 de agosto de 2016 02:13 GYT

Aug 10 (Reuters) - Southeast Asian stocks were sluggish on
Wednesday on subdued risk sentiment as Chinese policymakers
appeared to have disparate opinions regarding the ideal easing
measure required for stoking economic growth.  
    Moderating consumer inflation in July gives room for China's
central bank to loosen monetary policy if needed. 
    Last week, a research office at China's top economic planner
called for the central bank to cut interest rates and bank
reserve requirements, but later removed the remarks in an
updated statement posted on its website. 
    Investors have been closely watching the country's
bureaucracy for signs of policy dissent since May, when the
People's Daily quoted an "authoritative person" warning of a
financial crisis if the government relied too much on
debt-fuelled stimulus to spur the economy. 
    "Risk sentiments are not particularly strong. Further, China
data is expected to be on the softer side and there isn't much
of a policy relief story going on in China," said Vishnu
Varathan, a senior economist at Mizuho Bank. 
    China's industrial output, retail sales and urban investment
figures for July will be announced on Friday. 
    "PBOC (People's Bank of China) is quite coy to put in extra
stimulus," Varathan said.
    Singapore gained 0.5 percent, driven by financials
and industrials, with transport company Comfortdelgro Corp Ltd
 leading the gainers.
    Investors are also waiting for GDP data on Thursday, with
year-on-year GDP growth expected to match the advance estimate
of 2.2 percent, according to the median forecast in a Reuters
    Indonesia edged lower, dragged down by financials
and telecommunication services. Telkom Indonesia and
Bank Mandiri TBK led the losers. 
    Indonesia's President Joko Widodo is considering cutting the
corporate tax rate to 17 pct to match Singapore, according to
the cabinet secretary's website. 
    Philippine stocks was relatively flat, shrugging off
a drop in exports in June. 
    Vietnam however rose 1.2 percent, led primarily by
financials. Real estate operator Vingroup JSC and
Vietinbank were the top gainers. 
    Asian stocks hit a one-year high on Wednesday, with MSCI's
broadest index of Asia-Pacific shares excluding Japan
 up 0.35 percent. 
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  STOCK MARKETS                                           
  Change at 0531 GMT                                      
  Market              Current       previous     Pct Move
  Singapore           2883.74       2870.78      0.45
  Bangkok             1550.37       1548.21      0.14
  Manila              8048.29       8055.06      -0.08
  Jakarta             5409.428      5440.293     -0.57
  Kuala Lumpur        1672.69       1671.71      0.06
  Ho Chi Minh         645.04        637.34       1.21
  Change on year                                 
  Market              Current       End prev yr  Pct Move
  Singapore           2883.74       2882.73      0.04
  Bangkok             1550.37       1288.02      20.37
  Manila              8048.29       6952.08      15.77
  Jakarta             5409.428      4593.008     17.78
  Kuala Lumpur        1672.69       1692.51      -1.17
 Ho Chi Minh          645.04        579.03       11.40

 (Reporting by Hanna Paul in Bengaluru; Editing by Biju