SE Asia Stocks-Wary ahead of Yellen speech; Vietnam up 1 pct

viernes 26 de agosto de 2016 01:31 GYT
 

By Krishna V Kurup
    Aug 26 (Reuters) - Most Southeast Asian stock markets traded
cautiously on Friday, as investors waited for clues on the
timing of a possible U.S. rate increase in a speech by Federal
Reserve Chair Janet Yellen to central bankers later in the day.
    Already, top Fed officials have defended their view that the
U.S. central bank should probably raise interest rates soon,
saying they still intended to keep the economy running fast
enough to boost employment and inflation. 
 
    Recent strong readings on the U.S. labor market, and signs
that inflation was finally beginning to pick up, is encouraging
some policymakers to believe that rates should be hiked, if not
as soon as September's policy meeting then at least before the
end of the year. 
    Traders currently put chances of a December rate hike at
about 42 percent. 
    Vietnam shares were up as much as 1.4 percent after
index heavyweight Vietcombank gained as much as 6.5
percent to its highest since July 14 after it said it would pay
a 10 pct cash dividend and 35 pct share dividend to
shareholders. 
    The index has gained 13.7 percent this year as of Thursday's
close.
    Philippine shares fell 0.6 percent, with telecom
stocks leading the losers. PLDT Inc lost nearly 1
percent, and Globe Telecom Inc was down 2.1 percent.
    Investors continue to take a cautious stance ahead of Janet
Yellen's speech, looking for indications of a rate hike, SB
Equities said in a note, adding that "trading participants have
increased chatter on a potential surprise in tonight's speech." 
    Thai shares were up 0.6 percent, led by technology
and basic materials, while Singapore and Indonesia were
down marginally.
    
   
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SOUTHEAST ASIAN STOCK MARKETS
    
  STOCK MARKETS                                           
  Change at 0455 GMT                                      
  Market              Current       Prev close   Pct Move
  Singapore           2868.52       2876.93      -0.29
  Bangkok             1553.58       1544.1       0.61
  Manila              7804.35       7854.54      -0.64
  Jakarta             5435.869      5454.116     -0.33
  Kuala Lumpur        1681.91       1680.3       0.10
  Ho Chi Minh         666.33        658.5        1.19
                                                 
  Change on year                                 
  Market              Current       End 2015     Pct Move
  Singapore           2868.52       2882.73      -0.49
  Bangkok             1553.58       1288.02      20.62
  Manila              7804.35       6952.08      12.26
  Jakarta             5435.869      4593.008     18.35
  Kuala Lumpur        1681.91       1692.51      -0.63
  Ho Chi Minh         666.33        579.03       15.08
 

 (Reporting by Krishna V Kurup in Bengaluru; Editing by Biju
Dwarakanath)