SE Asia Stocks-Cautious on subdued risk sentiment; Vietnam up

miércoles 10 de agosto de 2016 06:35 GYT

By Hanna Paul
    Aug 10 (Reuters) - Southeast Asian stock markets were
cautious on Wednesday on subdued risk sentiment, as Chinese
policymakers appeared to have disparate opinions regarding their
monetary policy, while fading optimism regarding oil also added
to the negative sentiment.
    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 with Mizuho Bank. "PBOC (People's
Bank of China) is quite coy to put in extra stimulus." 
    China's industrial output, retail sales and urban investment
figures for July will be announced on Friday. 
    Meanwhile, global oil prices dropped on improved prospects
for U.S. output and a glut in refined products.   
    "Oil prices are struggling to find traction. Markets are not
going to chase commodity stocks in the near term," Varathan
    Vietnam outperformed other markets in the region with
a gain of 1.7 percent, led by financials.
    "Gains in Vingroup and Hoa Phat created positive sentiment.
Money flowed mostly into blue chips, which in the short term
could continue attracting more inflows," said Nguyen The Minh,
associate director at Saigon Securities Inc.
    Singapore shares gained 0.2 percent, driven by
financials and industrials, ahead of the release of GDP data on
    Indonesian shares edged lower, dragged down by
financials and telecommunication services, while Philippine
stocks closed relatively flat, shrugging off a drop in
June exports. 
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 STOCK MARKETS                                      
 Change on day                                      
 Market                   Current   previous close  Pct Move
 Singapore                2875.57   2870.78         0.17
 Bangkok                  1549.61   1548.21         0.09
 Manila                   8051.4    8055.06         -0.05
 Jakarta                  5423.949  5440.293        -0.30
 Kuala Lumpur             1673.03   1671.71         0.08
 Ho Chi Minh              648.33    637.34          1.72
 Change so far                                      
 Market                   Current   End prev yr     Pct Move
 Singapore                2875.57   2882.73         -0.25
 Bangkok                  1549.61   1288.02         20.31
 Manila                   8051.4    6952.08         15.81
 Jakarta                  5423.949  4593.008        18.09
 Kuala Lumpur             1673.03   1692.51         -1.15
 Ho Chi Minh              648.33    579.03          11.97
 (Reporting by Hanna Paul from Bengaluru; Additional Reporting
by Mai Nguyen from Hanoi; Editing by Subhranshu Sahu)