August 19, 2016 / 4:46 AM / 2 years ago

SE Asia Stocks-Indonesia slips ahead of cenbank meeting; Vietnam extends gains

By Anusha Ravindranath
    Aug 19 (Reuters) - Most Southeast Asian stock markets fell
on Friday as investors booked profits ahead of the weekend,
while an overnight rally in crude helped Vietnam and Singapore
to eke out small gains.
    Broad Sentiment was subdued after some Federal Reserve
officials reiterated the case for raising interest rates in the
coming months.     
    Indonesian shares drifted lower after two sessions
of gains as investors took a pause ahead of a central bank
policy meeting. 
    The bank formally makes the 7-day reverse repurchase rate
its new benchmark on Friday, and a slim majority of analysts
believe the rate will be held steady on its debut. 
    Philippine shares edged lower, dragged down by
consumer cyclicals. SM Investments Corp and Bloomberry
Resorts Corp were among the top percentage losers.
    "We are trading at around 23 times P/E, which is very
expensive," said Victor Felix of AB Capital Securities in
    Investors are taking profits before the weekend, as they do
not want to be surprised on Monday if something negative turns
up, he added.
    Vietnam shares were headed for their third straight
session of gains, helped by consumer non-cyclical and energy
stocks. Vietnam Dairy Products JSC was up 2.84 percent,
while Petrovietnam Gas Joint Stock Corp rose
    Singapore shares edged up, driven by oil and gas
stocks such as Keppel Corp Ltd.
    Oil prices rose on Thursday for a sixth straight session,
with Brent crude rising above $50 a barrel for the first time in
six weeks, as the world's biggest producers prepared to discuss
a possible freeze in production levels. 
    Thai shares fell slightly, weighed down by
industrial stocks including Thai Coating Industrial Pcl
, while Malaysia dropped as telecom stocks
such as Axiata Group Bhd and DiGi.Com Bhd 
lost ground.    
For Asian Companies click;  

  STOCK MARKETS                                        
 Change on 0351                                        
  Market           Current       previous     Pct Move
  Singapore        2841.11       2836.98      0.15
  Bangkok          1544.88       1547.01      -0.14
  Manila           7935.74       7952.81      -0.21
  Jakarta          5451.303      5461.45      -0.19
  Kuala Lumpur     1690.6        1694.87      -0.25
  Ho Chi Minh      661.81        660.65       0.18
 Change so far                                
 this year                                    
  Market           Current       End 2015     Pct Move
  Singapore        2841.11       2882.73      -1.44
  Bangkok          1544.88       1288.02      19.94
  Manila           7935.74       6952.08      14.15
  Jakarta          5451.303      4593.008     18.69
  Kuala Lumpur     1690.6        1692.51      -0.11
  Ho Chi Minh      661.81        579.03       14.30

 (Reporting by Anusha Ravindranath in Bengaluru; Editing by
Subhranshu Sahu)
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