May 18, 2016 / 10:27 AM / in 2 years

SE Asia Stocks-Fed rate hike expectations hit sentiment

By Anusha Ravindranath
    May 18 (Reuters) - Southeast Asian stocks were lower or
little changed at the close of trade on Wednesday, in line with
Asian shares, after some U.S. Fed officials flagged prospects of
a rate increase, leaving the door open to a change in monetary
policy relatively soon.
    A U.S. Federal Reserve policymaker said on Tuesday that he
will push for an interest rate hike in June or July and two
others still see up to three rate increases this year.
    Asian markets fell as the assumed shift towards more
tightening by the Fed came as bad news for stock markets. The
MSCI's broadest index of Asia-Pacific shares outside Japan
 lost 1.1 percent. 
    Singapore's Straits Times Index closed slightly lower
as consumer services lost ground.  
    Jardine Cycle & Carriage Ltd dropped 1.6 percent,
while Genting Singapore PLC fell 1.3 percent.
    The index has fallen 3.5 percent this year as of Tuesday's
   The Thai index snapped a 2-day rally, dragged down by
banks. Siam Commercial Bank, Thailand's third-largest
lender, lost 1.6 percent.
    Vietnam stocks ended 0.4 percent lower, after hitting
a near 10-month closing high in the previous session. 
    Indonesia closed marginally higher, recovering from
3 days of losses, with energy stocks gaining as oil futures
traded near 2016 highs on Wednesday. 
    Fuel distributor PT AKR Corporindo Tbk was up 4.7
  For Asian Companies click;  
  STOCK MARKETS                                        
 Change on the                                         
  Market           Current       previous     Pct Move
  Singapore        2777.11       2781.11      -0.14
  Bangkok          1400.5        1406.57      -0.43
  Manila           7534.3        7524.84      0.13
  Jakarta          4734.357      4729.156     0.11
  Kuala Lumpur     1635.72       1633.39      0.14
  Ho Chi Minh      622.45        624.75       -0.37
 Change so far                                
 this year                                    
  Market           Current       End prev yr  Pct Move
  Singapore        2777.11       2882.73      -3.66
  Bangkok          1400.5        1288.02      8.73
  Manila           7534.3        6952.08      8.37
  Jakarta          4734.357      4593.008     3.08
  Kuala Lumpur     1635.72       1692.51      -3.36
  Ho Chi Minh      622.45        579.03       7.50

 (Reporting by Anusha Ravindranath in Bengaluru; Additional
reporting by Fransiska Nangoy; Editing by Biju Dwarakanath)
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