SE Asia Stocks-Sluggish ahead of BOJ meet; Singapore slumps

jueves 28 de julio de 2016 06:35 GYT

By Hanna Paul
    July 28 (Reuters) - Southeast Asian stocks were largely
sluggish on Thursday with investors watching from the sidelines
as they awaited monetary easing steps by the Bank of Japan to
support the government's larger-than-expected stimulus package.
    Japan's economy minister called on the central bank to work
with the government to boost growth after the Japanese prime
minister announced a 28 trillion yen ($267 billion) stimulus
package on Wednesday. 
    "Markets are watching out for the BOJ's reaction in relation
to the announcement as there is no pre-commitment to anything
specific yet," said Vishnu Varathan, senior economist at
Singapore-based Mizuho Corporate Bank.
    Singapore stocks ended 0.8 percent lower after two of
the city-state's top banks voiced concerns about loans to the
oil and gas sector. Sentiment took a further hit after local
oilfield services firm Swiber Holdings said it was
winding up, under the weight of crushing debt. 
    Oversea-Chinese Banking Corp and United Overseas
Bank fell 0.5 percent and 1.27 percent respectively.
    Malaysian stocks closed 0.3 percent lower, led by
consumer cyclicals and consumer staple.
    The Philippines ended 0.9 percent lower, led by
infrastructure firm Ayala Corp and conglomerate JG
Summit Holdings, down 2 percent and 3 percent
    Thai stocks rose 0.5 percent, their biggest gain
since May 2015 as the finance ministry kept the country's 2016
GDP outlook at 3.3 percent. 
    For Asian Companies click;  

  STOCK MARKETS                                    
  Change on day                                    
  Market          Current      Previous    Pct Move
  Singapore       2918.62      2941.49     -0.78
  Bangkok         1524.58      1515.4      0.61
  Manila          8024.98      8100.48     -0.93
  Jakarta         5299.213     5274.361    0.47
  Kuala Lumpur    1658.5       1663.56     -0.30
  Ho Chi Minh     657.14       656.11      0.16
  Change on year                           
  Market          Current      End 2015    Pct Move
  Singapore       2918.62      2882.73     1.25
  Bangkok         1524.58      1288.02     18.37
  Manila          8024.98      6952.08     15.43
  Jakarta         5299.213     4593.008    15.38
  Kuala Lumpur    1658.5       1692.51     -2.01
  Ho Chi Minh     657.14       579.03      13.49
 (Reporting by Hanna Paul; Editing by Sunil Nair)