August 12, 2016 / 10:02 AM / 2 years ago

SE Asia Stocks-Largely down ahead of US retail sales data

By Justin George Varghese
    Aug 12 (Reuters) - Most Southeast Asian stock markets closed
lower on Friday on concerns about a slowing Chinese economy and
as investors awaited a host of U.S. data, notably retail sales,
for latest cues about the world's largest economy.
    China's industrial output and retail sales in July rose less
than expected, while growth in fixed asset investment in the
January-July period missed forecasts and slipped to the lowest
year-to-date rate in more than 16 years. 
    Chinese data suggests investors may take the opportunity to
sell on shakier outlook, but there will be some bargain-hunting,
said Mixo Das, a Southeast Asian equity strategist with Nomura,
citing Wall Street's record highs overnight and gains in wider
    Investors will sift through U.S. retail sales data, due
later in the day, for clues about whether the economy is robust
enough to withstand further monetary tightening.
    U.S. retail sales are expected to show a 0.4 percent monthly
increase in July, according to the median estimate of 64
economists polled by Reuters. 
    The U.S. Federal Reserve is likely to raise interest rates
in December, after the Nov. 8 presidential election, according
to a Reuters poll. Meanwhile, the Bank of England would chop
interest rates again in November, another Reuters poll
    Trading was also slow with many market participants in Japan
on leave this week for the summer holidays.
    Indonesian shares led the losses in the region and
closed 0.8 percent lower, with financials accounting for more
than half of the fall. For the week, they declined 0.8 percent,
their first in six. 
    Malaysian stocks rose 0.4 percent, led by telecom
stocks Axiata Group Ltd and Maxis Bhd,
adding 1.2 percent for the week. 
    Singapore shares posted their second straight fall,
dragged down by telecomms and industrials.
    Vietnam closed 0.7 percent lower after early gains,
while Philippine stocks fell for a third consecutive
session, dragged down by financials.
    Thai stock markets were closed on Friday for a
    For Asian Companies click;  

  STOCK MARKETS                                                 
  Change on the day                                             
  Market                    Current    previous close  Pct Move
  Singapore                 2867.4     2869.82         -0.08
  Bangkok                   --         1552.64         --
  Manila                    7955.86    7981.35         -0.32
  Jakarta                   5377.196   5419.088        -0.77
  Kuala Lumpur              1684.15    1678.8          0.32
  Ho Chi Minh               655.71     660.24          -0.69
  Change so far this year                              
  Market                    Current    End prev yr     Pct Move
  Singapore                 2867.4     2882.73         -0.53
  Bangkok                   1552.64    1288.02         20.54
  Manila                    7955.86    6952.08         14.44
  Jakarta                   5377.196   4593.008        17.07
  Kuala Lumpur              1684.15    1692.51         -0.49
  Ho Chi Minh               655.71     579.03          13.24
 (Reporting by Justin George Varghese in Bengaluru; Editing by
Subhranshu Sahu)
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