SE Asia Stocks-Philippines falls; investors cautious ahead of Fed policy move

lunes 26 de septiembre de 2016 07:18 GYT
 

By Suhail Hassan Bhat
    Sept 26 (Reuters) - Philippine shares edged down on Monday
as the country's central bank governor warned that a slump in
peso reflects investor caution ahead of the U.S. Federal
Reserve's next policy decision.
    Most other regional markets were down ahead of the first
U.S. presidential debate, which will take place early on Tuesday
in Asian time zones. 
    The peso fell to its lowest since 2009 in heavy
trading as importers' dollar demand added to downward pressure
stemming from stock outflows.  
    Philippines' central bank Governor Amando Tetangco told
Reuters on Monday the peso's movements were due to the corporate
requirements for dollars and reflected uncertainty about the
Federal Reserve's policy path. 
    "A lot of factors. One, if you look at the region it is very
weak. If you look at overall sentiments in the equity market we
have high valuations," said Augusto Cosio, president of First
Metro Asset Management Inc in Manila.
    "And there is a general risk-off sentiment." 
    The Philippine stock index fell 1.18 percent, pulled
down by financials and industrial staples, as SM Prime Holdings
Inc slid 2 percent, while container terminals operator
International Container Terminal Services Inc dropped
5.8 percent.
    Market has experienced net foreign selling in the past
weeks, said Philippine Stock Exchange President and CEO Hans B.
Sicat, adding, "Our economic fundamentals remain strong and this
should continue to help corporate performance moving forward."
    Singapore shares snapped the previous session's
winning streak. Meanwhile, the country's weaker-than-expected
manufacturing output in August rose 0.1 percent from a year
earlier, data showed on Monday.        
    Thai shares fell, dragged down by financials and
energy stocks, led by index heavyweights PTT Pcl and
Siam Commercial Bank.    
    Thailand's customs-cleared exports in August rose 6.5
percent compared with the previous year, beating analysts'
median forecast of 1.4 percent fall.  
    Malaysia shares dropped marginally, while Indonesian
shares pared gains from the previous session.  
    Bucking the trend, Vietnam climbed 0.44 percent. 

        
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SOUTHEAST ASIAN STOCK MARKETS
    
  STOCK MARKETS                                        
  Change on day                                        
  Market           Current       Previous     Pct Move
                                 Close        
  Singapore        2849.94       2856.95      -0.25
  Bangkok          1490.14       1492.88      -0.18
  Manila           7632.46       7723.6       -1.18
  Jakarta          5352.139      5388.908     -0.68
  Kuala Lumpur     1669.5        1670.99      -0.09
  Ho Chi Minh      677.04        674.09       0.44
                                              
  Change this                                 
 year                                         
  Market           Current       End 2015     Pct Move
  Singapore        2849.94       2882.73      -1.14
  Bangkok          1490.14       1288.02      15.69
  Manila           7632.46       6952.08      9.79
  Jakarta          5352.139      4593.008     16.53
  Kuala Lumpur     1669.5        1692.51      -1.36
  Ho Chi Minh      677.04        579.03       16.93
 

 (Reporting by Suhail Bhat; Editing by Sherry Jacob-Phillips)