SE Asia Stocks-Cautious ahead of Brexit vote; Singapore up

jueves 23 de junio de 2016 01:08 GYT

By Shashwat Pradhan
    June 23 (Reuters) - Southeast Asian stock markets stayed
cautious on Thursday, with investors focussing on Britain's
referendum on whether it would remain part of the European
    Two opinion polls published late on Wednesday, a few hours
before voters were due to begin casting their votes, showed the
"Remain" camp nudging ahead in the closely divided campaign, but
trading activity in Asian markets remained erratic, thin and
    In the light of the impending Brexit vote, risk sentiment is
dragging Southeast Asian markets slightly lower, said Grace
Aller of AP Securities in Manila.
    Meanwhile, Singapore Exchange Ltd said it has
raised the amount of cash firms must pledge to cover trading
positions due to an expected rise in market volatility linked to
Britain's vote on whether to exit the EU. 
    Market volatility has already spiked in the run up to the
referendum, with the CBOE Volatility index surging this
month and up 14 percent on Wednesday alone as polls showed the
outcome was too close to call.
    Singapore shares were up 0.6 percent as of 0445 GMT,
with financial stocks such as Oversea-Chinese Banking Corp Ltd 
 leading the gains.
    Philippine shares extended losses into a second
straight session, dragged down by financial stocks.
    "Investors are just profit-taking at the moment," said
    Vietnam shares were higher, heading for their third
session of gains in four, on expectations of upbeat corporate
earnings, traders and analysts said.
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  STOCK MARKETS                                        
  Change on the                                        
  Market           Current       previous     Pct Move
  Singapore        2801.68       2786.13      0.56
  Bangkok          1421.26       1424.68      -0.24
  Manila           7724.37       7756.37      -0.41
  Jakarta          4881.617      4896.852     -0.31
  Kuala Lumpur     1637.03       1637.69      -0.04
  Ho Chi Minh      629.33        626.41       0.50
  Change so far                               
 this year                                    
  Market           Current       End prev yr  Pct Move
  Singapore        2801.68       2882.73      -2.81
  Bangkok          1421.26       1288.02      10.34
  Manila           7724.37       6952.08      11.11
  Jakarta          4881.617      4593.008     6.28
  Kuala Lumpur     1637.03       1692.51      -3.28
 Ho Chi Minh       629.33        579.03       8.69

 (Reporting by Shashwat Pradhan; Editing by Subhranshu Sahu)