August 16, 2016 / 9:47 AM / 2 years ago

SE Asia Stocks-Sluggish; Thailand hits 1-wk low

By Justin George Varghese
    Aug 16 (Reuters) - Southeast Asian stock markets were
sluggish on Tuesday, with Thailand shedding nearly 1 percent to
a one-week low, amid expectations of an extended phase of
monetary easing after downbeat economic data from major
    Most countries are easing their monetary policies, with
Britain, Australia and New Zealand cutting rates in recent weeks
and Japan stepping up purchases of exchange-traded funds.
    The expected easing posture of central banks globally
suggests the Fed may be slower to raise short-term interest
rates and that could be reflected in the minutes, analysts said.
    "We recommend taking profit on outperforming trades when
sentiment levels have moderated or Fed pricing has normalised,"
Nomura strategist Mixo Das said in a note.
    Investor sentiment got a boost as oil prices remained near
five-week highs on Tuesday, gaining 16 percent in a rally since
early August as speculation intensified over potential producer
action to support prices amid a glut. 
    Thailand's SET index fell for a second day in row,
dragged down by financial stocks such as Siam Commercial Bank
Pcl and Kasikornbank Pcl.
    A rapid rise in the baht could impede business and
the economy and the central bank will closely monitor the
currency, an assistant central bank governor said. 
    Malaysian shares rose for a fifth straight session,
led by telecom services and industrials, while Philippine stocks
 extended gains into a second straight day, with consumer
cyclicals driving the rise.
    Indonesian shares closed nearly 1 percent higher,
driven by consumer staples, with PT Unilever Indonesia Tbk
 and PT Charoen Pokphand Indonesia Tbk among
the biggest gainers.
    Automobile sales in Indonesia rose 12.5 percent in July from
a year earlier, according to data released by industry
association Gaikindo. 
    Indonesia's financial markets will be closed on Wednesday
for a public holiday. 

    For Asian Companies click;  

  STOCK MARKETS                                      
  Change on the day                                  
  Market              Current   Prev. close  Pct Move
  Singapore           2858.8    2867.21      -0.29
  Bangkok             1536.35   1549.11      -0.82
  Manila              7983.38   7960.17      0.29
  Jakarta             5371.846  5320.561     0.96
  Kuala Lumpur        1699.89   1690.33      0.57
  Ho Chi Minh         658.11    659.47       -0.21
  Change this year                           
  Market              Current   End prev yr  Pct Move
  Singapore           2858.8    2882.73      -0.83
  Bangkok             1536.35   1288.02      19.28
  Manila              7983.38   6952.08      14.83
  Jakarta             5371.846  4593.008     16.96
  Kuala Lumpur        1699.89   1692.51      0.44
  Ho Chi Minh         658.11    579.03       13.66

 (Reporting by Justin George Varghese in Bengaluru; Editing by
Subhranshu Sahu)
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