SE Asia Stocks-Soft as investors eye U.S. payrolls data

viernes 2 de septiembre de 2016 01:20 GYT
 

By Aparajita Saxena
    Sept 2 (Reuters) - Southeast Asian stocks were sluggish on
Friday, tracking subdued U.S. markets overnight, as investors
were cautious ahead of a crucial report on how many new jobs the
United States may have added last month, a pointer to how soon
the Fed would raise rates. 
    While U.S. manufacturing remains constrained by the
lingering effects of a strong dollar and lower oil prices,
sustained labor market strength could push the Federal Reserve
closer to raising interest rates later this year. 
    There is a 36 percent chance that the rate hike would happen
in September, but the fact is that the Fed usually doesn't like
to raise rates before the November presidential election, so it
may happen in December, said Grace Aller, head of research at AP
Securities in Manila.
    "Stocks will continue to be muted...Investors will not move
a lot before the jobs data today," she said.
    "The movement of the U.S. markets tonight will dictate the
movement in the (Asian) markets next week."
    Singapore shares slid 0.3 percent, their lowest in
two months.
    Telecom stocks fell the most after Australia's TPG Telecom
 and two local firms submitted expressions of interest
to the Singapore telecommunications regulator in an auction of
radio airwaves later this year that is aimed at establishing a
fourth mobile operator. 
    Singapore Telecommunications Ltd, the biggest
telecom services provider in Southeast Asia, fell 2.52 percent.
    StarHub Ltd and M1 Ltd lost 4.41 percent
and 5.6 percent, respectively.
    Thai shares fell nearly 1 percent to their lowest in
one week, led by losses in energy and healthcare stocks.
    The country's largest hospital operator, Bangkok Dusit
Medical Services PCL lost about 1.7 percent, after it
cut full-year revenue growth target to 8-10 percent from 11-12
percent due to lower-than-expected growth in the first half.
 
    Philippines rose 0.5 percent, while Malaysia 
was flat.
    Vietnam was closed for the National Day holiday.
    Asian shares marked time before the U.S. report, with MSCI's
broadest index of Asia-Pacific shares outside Japan
 barely changed for the day. 

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SOUTHEAST ASIAN STOCK MARKETS
    
  STOCK MARKETS                                              
  Change at 0419 GMT                                         
  Market              Current       Previous Close  Pct Move
  Singapore           2806.06       2816.47         -0.37
  Bangkok             1525.86       1539.71         -0.90
  Manila              7813.96       7773.31         0.52
  Jakarta             5347.835      5334.547        0.25
  Kuala Lumpur        1671.37       1670.55         0.05
                                                    
  Change this year                                  
  Market              Current       End 2015        Pct Move
  Singapore           2806.06       2882.73         -2.66
  Bangkok             1525.86       1288.02         18.47
  Manila              7813.96       6952.08         12.40
  Jakarta             5347.835      4593.008        16.43
  Kuala Lumpur        1671.37       1692.51         -1.25
 

 (Reporting by Aparajita Saxena in Bengaluru; Editing by Biju
Dwarakanath)