April 28, 2016 / 10:38 AM / in 2 years

SE Asia Stocks-Mostly down as investors focus on corporate results

JAKARTA, April 28 (Reuters) - Most Southeast Asian stock
markets ended lower on Thursday after the U.S. Federal Reserve
left interest rates unchanged, while investors keenly watched
corporate earnings results.
    The Malaysian share index led the regional decline
with a 1 percent loss, dragged by shares of power company Tenaga
Nasional Bhd, down 1.4 percent, and of cigarette firm
British American Tobacco Bhd, that fell 8.5 percent.
    Tenaga posted a 39 percent fall in quarterly earnings on
Wednesday, while British American Tobacco's earnings fell 29
percent, prompting target price cuts by several brokerage firms.
    "The Fed meeting was a non-event, and both global and
domestic markets continue to focus on fundamentals and
earnings," said Dang Maulida, an analyst with KDB Daewoo
Securities in Jakarta.
    The Fed left interest rates unchanged on Wednesday, but kept
the door open for a hike in June. 
    Meanwhile, MSCI's broadest index of Asia-Pacific shares
outside Japan trimmed its gains after the Bank
of Japan kept its policy unchanged. 
    Stocks in Thailand fell 0.8 percent while the
Philippine index lost 0.3 percent.
    Broker SB Equities said in note that the business community
in the Philippines, which will elect a new president on May 9,
is uncertain about concrete economic platform of the leading
presidential candidate.
    Philippine presidential hopeful Rodrigo Duterte had the
chance to outline his economic policy agenda before scores of
big businessmen on Wednesday, but chose instead to talk about
drugs, shootings and his libido. 
    Bucking the trend, the Indonesian stock index rose
0.1 percent, with shares of brewer PT Multi Bintang Indonesia
 surging 16 percent to their highest close in six
months after first-quarter earnings more than doubled from a
year earlier.  
For Asian Companies click;  

 Change on day
 Market         Current     Prev       Pct
                            close     move
 Singapore       2862.30    2874.72    -0.43
 Kuala Lumpur    1674.76    1692.34    -1.04
 Bangkok         1399.91    1411.84    -0.84
 Jakarta         4848.39    4845.66     0.06
 Manila          7162.56    7180.53    -0.25
 Ho Chi Minh      591.67     593.96    -0.39
 Change on year
 Market         Current   End 2015     Pct
 Singapore        2862.3    2882.73    -0.71
 Kuala Lumpur    1674.76    1692.51    -1.05
 Bangkok         1399.91    1288.02     8.69
 Jakarta         4848.39   4593.008     5.56
 Manila          7162.56    6952.08     3.03
 Ho Chi Minh      591.67     579.03     2.18
 (Reporting by Fransiska Nangoy; Editing by Anupama Dwivedi)
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