SE Asia Stocks-Fall in line with Asian peers; U.S. presidential debate awaited
By Suhail Hassan Bhat Sept 26 (Reuters) - Southeast Asian stock markets fell on Monday, in line with Asian peers, after last week's gains while investors shifted their attention from central banks to American politics. Investors awaited Monday evening's U.S. presidential debate between Donald Trump and Hillary Clinton, which will take place early on Tuesday in Asian time zones, the first of three debates ahead of the November elections. If the Republican nominee Donald Trump comes out good in the debate, it will raise the "uncertainty coefficient because he is unorthodox", said Vishnu Varathan, a senior economist with Mizuho Corp Bank in Singapore. Philippine shares were headed for a second straight session of falls, with financials and industrials leading the decline. Property developer SM Prime Holdings Inc fell 0.54 percent, while container terminals operator International Container Terminal Services Inc dropped 5.5 percent to its lowest in nearly two weeks. Singapore shares fell after Friday's gains, weighed down by industrials and financials. Diversified company Jardine Matheson Holdings dropped 0.4 percent, while Jardine Cycle & Carriage Ltd fell 1.34 percent. Stocks related to the oil and gas sector also declined, as Saudi Arabia and arch rival Iran were making little progress in achieving preliminary agreement ahead of talks by major crude exporters next week aimed at freezing production. Rig builder Keppel Corp and Sembcorp Industries fell nearly 1 percent and 0.8 percent, respectively. Investors also awaited industrial production data for August due later in the day for clues about the domestic economy. A Reuters poll showed industrial production is expected to have edged higher from the previous month. Thai shares were on track for a second straight session of declines, withered by financials and energy stocks including PTT Pcl and Siam Commercial Bank. Malaysia was marginally down after four straight sessions of gains, Indonesia fell after three consecutive sessions of rises, and Vietnam was lower after five consecutive sessions of gains. MSCI's broadest index of Asia-Pacific shares outside Japan was down 0.1 percent, while Japan's Nikkei stock index fell 0.5 percent. For Asian Companies click; SOUTHEAST ASIAN STOCK MARKETS STOCK MARKETS Change at 0353 GMT Market Current Previous Pct Move Close Singapore 2849.3 2856.95 -0.27 Bangkok 1487.29 1492.88 -0.37 Manila 7650.57 7723.6 -0.95 Jakarta 5359.118 5388.908 -0.55 Kuala Lumpur 1668.33 1670.99 -0.16 Ho Chi Minh 672.16 674.09 -0.29 Change this year Market Current End 2015 Pct Move Singapore 2849.3 2882.73 -1.16 Bangkok 1487.29 1288.02 15.47 Manila 7650.57 6952.08 10.05 Jakarta 5359.118 4593.008 16.68 Kuala Lumpur 1668.33 1692.51 -1.43 Ho Chi Minh 672.16 579.03 16.08 (Reporting by Suhail Bhat; Editing by Subhranshu Sahu)
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