SE Asia Stocks-Most rise; Thailand up, Philippines snaps early gains

jueves 2 de junio de 2016 06:24 GYT
 

By Justin George Varghese
    June 2 (Reuters) - Most Southeast Asian stock markets closed
higher on Thursday, with Thai shares leading the gains after the
country's central bank kept its key policy rate steady, while
Philippine stocks retreated after rising earlier in the day.
    Asian shares eased after surveys showed global manufacturing
activity and demand remained weak. MSCI's broadest index of
Asia-Pacific shares outside Japan struggled to
keep its head above water after rising more than 3 percent over
the last seven days. 
    "I think investors will remain skittish ahead of the U.S.
non-farm employment data on Friday and will be looking out for
possible cues from it on the Fed's rate hike timings," said Alex
Tiu, an analyst with Manila-based AB Capital Securities Inc.
    The data is expected to show the U.S. economy created
164,000 jobs in May. 
    Financial stocks helped the Thai index recover from
the previous session's losses after the Bank of Thailand left
its policy interest rate at 1.50 percent, unchanged
since April 2015. 
    Thailand's fifth-largest lender Bank of Ayudhya PCL 
climbed 0.7 percent.
    Philippine stocks slipped 0.5 percent after gaining
as much as 0.7 percent earlier in the day.
    The fall is not surprising as shares have been overbought
since the presidential elections and have been trading at over
19 times P/E, said April Lee-Tan, an analyst with Manila-based
COL Financial Inc.
    "So the stocks would be bound for a market correction now
and in the following days," she said.
    Shares of Philippine telecom operators, San Miguel Corp
 and Globe Telecom Inc, were among the biggest
losers on the index.
    The Philippine telecoms regulator has given the two main
operators a year to boost chronically slow internet speeds,
warning it would otherwise revoke approval to take over prized
spectrum agreed as part of a $1.5 billion deal this
week. 
    Malaysian shares climbed for a second day, helped by
financial stocks.
    Singapore shares rose marginally, while Vietnam
 rose 0.6 percent, led by the energy index.
            
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SOUTHEAST ASIAN STOCK MARKETS

    
  STOCK MARKETS                                  
  Change on day                                  
  Market              Current   Previous   Pct
                                Close      Move
  Singapore           2795.09   2790.54    0.16
  Bangkok             1424.06   1415.76    0.59
  Manila              7464.59   7500.79    -0.48
  Jakarta             4833.225  4839.668   -0.13
  Kuala Lumpur        1630.53   1626.5     0.25
  Ho Chi Minh         623.37    619.86     0.57
  Change on year                           
  Market              Current   End 2015   Pct
                                           Move
  Singapore           2795.09   2882.73    -3.04
  Bangkok             1424.06   1288.02    10.56
  Manila              7464.59   6952.08    7.37
  Jakarta             4833.225  4593.008   5.23
  Kuala Lumpur        1630.53   1692.51    -3.66
  Ho Chi Minh         623.37    579.03     7.66
 
 (Reporting by Justin George Varghese in BENGALURU; Editing by
Anupama Dwivedi)