SE Asia Stocks-Fall ahead of key U.S. jobs data
Sept 1 (Reuters) - Most Southeast Asian stocks fell on Thursday, in line with Asian peers, as investors shrugged off an official survey showing Chinese factory activity unexpectedly expanded in August, to focus on a U.S. jobs report that could determine the timing of a rate increase by the Federal Reserve. U.S. nonfarm payrolls data due on Friday remains this week's key market focus after Federal Reserve Vice Chair Stanley Fischer said last week the data would be a factor as to when the central bank hikes interest rates. Employers are expected to have added 180,000 jobs in August, according to the median estimate of 89 economists polled by Reuters. "People are waiting for the data tomorrow..Jobs data has always been improving over the past few months..don't see any reason why it will reverse," said Joseph Roxas, president at Philippines-based Eagle Equities Inc. A private employment report, published ahead of the government data, showed private payrolls increased by 177,000 jobs, in line with economists' expectations. The markets were tepid to an official survey showing activity in China's manufacturing sector unexpectedly expanded at its fastest pace in nearly two years in August as construction boomed, suggesting the economy is steadying in response to stronger government spending. Philippine shares fell as much as 1.8 percent to a two-month low, on track to post a seventh session of losses, led by consumer cyclicals and non-cyclicals. SM Investments Corp and GT Capital Holdings Inc lost more than 2 percent each. The market is still in correction and has been overbought for a while, Roxas said. Indonesia fell as much as 1 percent, led by utilities and consumer cyclicals. PT Perusahaan Gas Negara, a state gas distribution firm, was the second biggest decliner on the index, falling as much as 5.6 percent. Vietnam fell 0.7 percent, while Malaysia was down marginally. Singapore shares bucked the trend to rise as much as 0.6 percent. Asian shares fell, with MSCI's broadest index of Asia-Pacific shares outside Japan down 0.5 percent. For Asian Companies click; SOUTHEAST ASIAN STOCK MARKETS STOCK MARKETS Change at 0425 GMT Market Current Prev close Pct Move Singapore 2832.56 2820.59 0.42 Bangkok 1547.18 1548.44 -0.08 Manila 7684.71 7787.37 -1.32 Jakarta 5340.562 5386.082 -0.85 Kuala Lumpur 1672.59 1678.06 -0.33 Ho Chi Minh 670.07 674.63 -0.68 Change this year Market Current End 2015 Pct Move Singapore 2832.56 2882.73 -1.74 Bangkok 1547.18 1288.02 20.12 Manila 7684.71 6952.08 10.54 Jakarta 5340.562 4593.008 16.28 Kuala Lumpur 1672.59 1692.51 -1.18 Ho Chi Minh 670.07 579.03 15.72 (Reporting by Geo Tharappel in Bengaluru; Editing by Biju Dwarakanath)
© Thomson Reuters 2016 All rights reserved.