SE Asia Stocks -Mixed; Philippine shares fall on concerns over weak China demand

miércoles 9 de julio de 2014 07:11 GYT
 

July 9 (Reuters) - Philippine stocks fell to their lowest in
nearly a week while other Southeast Asian markets remained
rangebound as lower June inflation in China raised concerns over
weak demand that could hurt growth in the world's second largest
economy.
    The Philippine index ended 0.6 percent weaker, its
lowest since July 3, led by industrial and financial shares amid
expectations of an interest rate hike.
    Although Philippine inflation slowed slightly in June,
growing price pressures have been adding to expectations the
central bank will raise interest rates for the first time in
three years, possibly as early as this month. 
    China's consumer inflation cooled slightly more than
expected in June, pointing to lingering weakness in the economy
which could prompt Beijing to launch further stimulus measures
to shore up growth. 
    "There are no compelling reasons to chase stock prices
higher," said Song Seng Wun, a Singapore-based CIMB economist.
    "China's inflation picture remains stable, allowing the
policy planners to continue with targeted easing to support the
Chinese economy," he said.
    "No real reason to get excited. People are adopting a
wait-and-see attitude, watching the annual China-U.S. strategic
and economic dialogue and perhaps looking out for the upcoming
release of the latest Fed Reserve's minutes from its 17-18 June
2014 FOMC meeting." 
    The Singapore index fell 0.2 percent, while
Malaysia ended 0.1 percent weaker with a foreign outflow
of $16.88 million worth shares.  
    The Thai benchmark index recovered from early losses
and ended little changed, while the Vietnam index ended
0.02 percent up.  
    The Jakarta stock market was closed due to presidential
elections.
    
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SOUTHEAST ASIAN STOCK MARKETS
 Change on day
 Market             Current     Prev Close    Pct Move
 TR SE Asia Index*   437.77        437.65       +0.03
 Singapore          3275.46       3283.34       -0.24
 Kuala Lumpur       1891.16       1892.65       -0.08
 Bangkok            1507.92       1507.58       +0.02
 Manila             6903.79       6948.52       -0.64
 Ho Chi Minh         591.60        591.47       +0.02
 
 Change on year
 Market             Current       End 2013    Pct Move
 TR SE Asia Index*   437.77        388.37      +12.72
 Singapore          3275.46       3167.43       +3.41
 Kuala Lumpur       1891.16       1866.96       +1.30
 Bangkok            1507.92       1298.71      +16.11
 Jakarta            5024.71       4274.18      +17.56
 Manila             6903.79       5889.83      +17.22
 Ho Chi Minh         591.60        504.63      +17.23
 
* The Thomson Reuters South East Asia Index is a
highly representative indicator of stocks listed in Indonesia,
Malaysia, the Philippines, Singapore, Thailand and Vietnam.
($1 = 3.1710 Malaysian Ringgits)

 (Reporting by Shihar Aneez; Editing by Subhranshu Sahu)