SE Asia Stocks-Slip as Fed, Brexit continue to weigh
June 14 (Reuters) - Most Southeast Asian stock markets fell on Tuesday, tracking Asian stocks on concerns that next week's referendum could push Britain out of the European Union, while investors also awaited the outcome of the U.S. Federal Reserve's policy meeting that begins later in the day. Uncertainty over the two-day meeting has weighed on markets though the U.S. central bank is widely expected to leave interest rates unchanged after a much weaker-than-expected May nonfarm payrolls report. The Bank of England, Swiss National Bank and the Bank of Japan will also meet this week and are expected to stand pat on policy with the Brexit vote looming. "MSCI's inclusion of China's A shares can also push the markets further sideways or it could have a short-term negative effect. Even though inclusion will only take effect next year, it will reduce the weightage of other countries and have a greater impact on larger markets," said Grace Aller, an analyst with Manila-based AP securities. New York-based index provider MSCI will decide on Tuesday whether to allow yuan-denominated shares - or A shares traded in mainland China - into its widely used Emerging Markets Index. Philippine stocks opened lower, extending their losses from the previous session, dragged by consumer cyclicals and telecom service providers. SM Investment Corp fell 2.8 percent, while Philippine Long Distance Telephone Co was down 1.4 percent. The Philippine index tracked U.S. markets as Brexit concerns continued to weigh, SB Equities said in a note, adding that an exit is seen as likely to increase volatility in a still-fragile world economy. Vietnam shares fell 0.4 percent, with energy stocks leading the losses. Bucking the trend, stocks in Indonesia rose 0.13 percent and Thailand 0.3 percent. MSCI's broadest index of Asia-Pacific shares outside Japan fell 0.6 percent, after Wall Street lost ground for the third straight session. For Asian Companies click; SOUTHEAST ASIAN STOCK MARKETS STOCK MARKETS Change at 0435 GMT Market Current previous Pct Move close Singapore 2778.77 2785.43 -0.24 Bangkok 1426.54 1421.86 0.33 Manila 7430.57 7554.4 -1.64 Jakarta 4813.709 4807.226 0.13 Kuala Lumpur 1626.2 1629.77 -0.22 Ho Chi Minh 620.83 623.58 -0.44 Change on year Market Current End 2015 Pct Move Singapore 2778.77 2882.73 -3.61 Bangkok 1426.54 1288.02 10.75 Manila 7430.57 6952.08 6.88 Jakarta 4813.709 4593.008 4.81 Kuala Lumpur 1626.2 1692.51 -3.92 Ho Chi Minh 620.83 579.03 7.22 (Reporting by Krishna V Kurup in Bengaluru; Editing by Anupama Dwivedi)
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