SE Asia Stocks-Cautious ahead of Fed meeting, Brexit referendum

viernes 10 de junio de 2016 00:58 GYT

By Rushil Dutta
    June 10 (Reuters) - Most Southeast Asian stock markets
remained subdued on Friday ahead of a U.S. Federal Reserve
meeting next week that would decide on interest rates, and the
UK referendum on Britain's exit from the European Union later
this month.
    Polls show a tight race ahead of the June 23 referendum.
This, along with the U.S. hiring slowdown, has created enough
concern to push the likelihood of a rate hike at the June 14-15
Fed meeting almost completely off the table. 
    Fed watchers surveyed by Reuters this week saw a median 40
percent chance of a hike in July and a roughly two-in-three
chance of a September move.
    "The markets are on tenterhooks ahead of next week's FOMC
meeting. Rates may go up in July or September and markets do not
like such uncertainty," said an analyst from Singapore.
    "We also think Britain wouldn't want to exit the EU, but if
it swings otherwise, the effects could be detrimental," he
    Singapore led the losses in the regional markets that
were dragged down by oil and gas and consumer services stocks.
    Oil-rig firms Sembcorp Industries and Keppel Corp
 were among the biggest losers.
    Singapore's trade minister on Thursday said the Asian
country would meet its GDP growth target of between 1 percent
and 3 percent for this year, but that there were some risks.
    Indondesian and Thai stocks lost marginally.
Vietnam posted paltry gains, led by basic materials and
    The Philippine index rebounded from its biggest
single-day loss in nearly six months, gaining about 0.6 percent,
led by financials.
    MSCI's broadest index of Asia-Pacific shares outside Japan
 dipped 0.9 percent, but remained poised for a
weekly gain.

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  STOCK MARKETS                                   
  Change at 0345                                  
  Market          Current     Previous   Pct Move
  Singapore       2825.55     2843.8     -0.64
  Bangkok         1432.88     1435.65    -0.19
  Manila          7573.4      7536.65    0.49
  Jakarta         4866.269    4876.794   -0.22
  Kuala Lumpur    1646.09     1650.51    -0.27
  Ho Chi Minh     632.53      631.26     0.20
  Change on year                         
  Market          Current     End 2015   Pct Move
  Singapore       2825.55     2882.73    -1.98
  Bangkok         1432.88     1288.02    11.25
  Manila          7573.4      6952.08    8.94
  Jakarta         4866.269    4593.008   5.95
  Kuala Lumpur    1646.09     1692.51    -2.74
  Ho Chi Minh     632.53      579.03     9.24

 (Reporting by Rushil Dutta in Bengaluru; Editing by Anupama