SE Asia Stocks-Fall as BOJ stimulus disappoints investors
By Aparajita Saxena July 29 (Reuters) - Most Southeast Asian stock markets fell on Friday, in line with their Asian peers as the Bank of Japan's stimulus measures disappointed investors. The Japanese central bank expanded stimulus by doubling purchases of exchange-traded funds (ETF), yielding to pressure from the government and financial markets for bolder action, but disappointing investors who had set their hearts on more audacious measures. It held its negative interest rates at -0.1 percent, and maintained its base money target at 80 trillion yen ($775 billion) as well as the pace of purchases for other assets including government bonds. "The results of the meeting have definitely confounded markets. Traders were expecting a much heftier stimulus package," said Victor Felix, an analyst with AB Capital Securities Inc in Manila. "The unchanged interest rates and modest stimulus package mean that the Brexit effect is not as bad. It is a vote of confidence in terms of global growth, and will give investors confidence in the long term." MSCI's broadest index of Asia-Pacific shares outside Japan dipped 0.3 percent after hitting the highest level since Aug. 11. Singapore shares led the losses, dragged down by financials. Index heavyweights DBS Group Holdings Ltd, Oversea-Chinese Banking Corp Ltd and United Overseas Bank were among the top percentage losers, on mounting concerns about loans to the oil and gas sector after Swiber Holdings on Thursday filed for liquidation. Vietnam shares were on track to end their two sessions of gains, with consumer non-cyclicals the biggest percentage losers. Indonesian shares bucked the trend and rose for a fifth straight session to hit their highest since May 2015, driven by telecoms and consumer cyclicals. Telekomunikasi Indonesia (Persero) Tbk PT gained 3.2 percent, while automobile spare-part distributor Astra International Tbk PT rose 4.4 percent. For Asian Companies click; SOUTHEAST ASIAN STOCK MARKETS STOCK MARKETS Change at 0447 GMT Market Current Previous close Pct Move Singapore 2883.87 2918.62 -1.19 Bangkok 1524.38 1524.58 -0.01 Manila 8017.1 8024.98 -0.10 Jakarta 5322.786 5299.213 0.44 Kuala Lumpur 1656.18 1658.5 -0.14 Ho Chi Minh 655.6 657.14 -0.23 Change on year Market Current End 2015 Pct Move Singapore 2883.87 2882.73 0.04 Bangkok 1524.38 1288.02 18.35 Manila 8017.1 6952.08 15.32 Jakarta 5322.786 4593.008 15.89 Kuala Lumpur 1656.18 1692.51 -2.15 Ho Chi Minh 655.6 579.03 13.22 (Reporting by Aparajita Saxena; Editing by Subhranshu Sahu)
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