SE Asia Stocks-Philippine down before keeps rate as expected

jueves 27 de marzo de 2014 06:23 GYT

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
    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.
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 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)