SE Asia Stocks-Fall ahead of U.S. jobs data; Philippines hits over 1-wk low
By Anusha Ravindranath Oct 7 (Reuters) - Southeast Asian stock markets fell on Friday, in line with Asian peers, ahead of U.S. jobs data due later in the day that could signal when the Federal Reserve would next raise interest rates. The number of Americans filing for unemployment benefits unexpectedly fell last week to a near 43-year low, data released on Thursday showed, boding well for Friday's closely-watched payroll report. Strong U.S. jobs numbers could fuel the possibility of a Fed rate hike later this year and ripple through markets. Economists polled by Reuters forecast nonfarm payrolls to increase by 175,000. The International Monetary Fund warned on Thursday that a disorderly reaction to possible U.S. interest rate hikes could disrupt capital flows and heighten asset price volatility in Asia. Asian shares fell with MSCI's broadest index of Asia-Pacific shares outside Japan down 0.2 percent. Philippine shares fell for a third straight session and hit their lowest in more than a week with telcos leading the decline. The Philippine market is down mostly due to political concerns as has been the case for the past few days, said Grace Aller, an analyst with AP Securities. A lot of data coming out of the United States paint the picture of the economy being on a firmer footing and Fed officials are running out of reasons to delay rate hikes further, she added. Singapore shares posted their biggest intra-day percentage loss in a week, weighed down by consumer services and financial stocks. The Jakarta Composite Index touched a one-week low and was headed for a third straight session of falls, while Thai shares fell after four days of gains. For Asian Companies click; SOUTHEAST ASIAN STOCK MARKETS STOCK MARKETS Change at 0339 GMT Market Current previous Pct Move close Singapore 2872.21 2880.69 -0.45 Bangkok 1511.79 1513.86 -0.14 Manila 7585.11 7620.16 -0.46 Jakarta 5384.883 5409.344 -0.45 Kuala Lumpur 1663.87 1666.73 -0.17 Ho Chi Minh 685.92 687.32 -0.20 Change so far this year Market Current End prev yr Pct Move Singapore 2872.79 2882.73 -0.34 Bangkok 1511.79 1288.02 17.37 Manila 7585.11 6952.08 9.11 Jakarta 5384.883 4593.008 17.24 Kuala Lumpur 1663.87 1692.51 -1.69 Ho Chi Minh 685.92 579.03 18.46 (Reporting by Anusha Ravindranath in Bengaluru; Additional reporting by Susan Mathew; Editing by Subhranshu Sahu)
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