SE Asia Stocks-Philippine down before c.bank keeps rate as expected
BANGKOK, March 27 (Reuters) - Stocks in the Philippines slid on Thursday as investors trimmed holdings in interest rate-sensitive stocks before the central bank's decision on interest rates, while shares in Indonesia retreated from a one-week high after late selling. The Philippine main index finished down 0.5 percent at 6,315.69, the lowest since Feb. 25. Shares of Metropolitan Bank & Trust Co and Robinsons Land Corp were among underperformers. The Philippine central bank kept its overnight borrowing rate at a record low of 3.5 percent for the eleventh straight meeting, as expected. It raised banks' reserve requirement ratio 1 percentage point. The interest rate decision came after the stock market close. Indonesia's main index closed down 0.1 percent amid selling in recent gainers. Bank Danamon Indonesia shares dropped 3.6 percent after a rise early in the week and were among the top losers. Dividend-yielding stocks outperformed, led by a 2 percent gain in shares of Perusahaan Gas Negara amid expectations of its strong dividend payouts. Thai shares snapped two days of gains, ending down 0.3 percent. Large caps which rallied early in the week on institutional-led buying mostly fell, including Siam Commercial Bank and Advanced Info Service. For Asian Companies click; For South East Asia Hot Stock reports, click; SOUTHEAST ASIAN STOCK MARKETS Change on day Market Current Prev Close Pct Move TR SE Asia Index* 403.19 403.13 +0.02 Singapore 3162.46 3143.32 +0.61 Kuala Lumpur 1846.87 1839.14 +0.42 Bangkok 1355.95 1360.44 -0.33 Jakarta 4723.06 4728.24 -0.11 Manila 6315.69 6348.50 -0.52 Ho Chi Minh 590.14 588.06 +0.35 Change on year Market Current End 2013 Pct Move TR SE Asia Index* 403.19 388.37 +3.82 Singapore 3162.46 3167.43 -0.16 Kuala Lumpur 1846.87 1866.96 -1.08 Bangkok 1355.95 1298.71 +4.41 Jakarta 4723.06 4274.18 +10.50 Manila 6315.69 5889.83 +7.23 Ho Chi Minh 590.14 504.63 +16.95 * The Thomson Reuters South East Asia Index is a highly representative indicator of stocks listed in Indonesia, Malaysia, the Philippines, Singapore, Thailand and Vietnam. (Reporting by Viparat Jantraprap; Editing by Joyjeet Das)
© Thomson Reuters 2016 All rights reserved.