August 25, 2016 / 5:26 AM / 2 years ago

SE Asia Stocks-Lacklustre ahead of Yellen speech

By Krishna V Kurup
    Aug 25 (Reuters) - Southeast Asian stock markets were
lacklustre on Thursday after an overnight drop on Wall Street,
while the dollar rose ahead of a speech by Federal Reserve Chair
Janet Yellen at a global central bankers' meeting.
    Market expectations have increased that Yellen might
indicate a clearer time frame for the next U.S. rate hike after
strong housing data this week and hawkish comments by other Fed
officials, but many analysts expect her to strike a more neutral
    Indonesian stocks rose 0.5 percent and were headed for their
first gain in three sessions, led by consumer cyclicals and
    The Jakarta Composite Index had gained 17.7 percent
this year as of Wednesday's close, boosted by President Joko
Widodo's economic reforms, though investors worry about buying
more of a market hitting historic peaks. 
    Trimegah Securities said in a note that it expected mild
correction for the index on Thursday with possible technical
rebound the following day.
    Astra International Tbk PT rose 2.1 percent, while
Perusahaan Gas Negara (Persero) Tbk PT gained 1.3
    Vietnamese shares were lower after two sessions of
gains, with healthcare stocks dragging down the index. Dhg
Pharmaceutical Joint-Stock Co dropped 0.5 percent.
    Ahead of Yellen's speech and given the weakness on Wall
Street and lower commodity prices, the Vietnamese market is
declining, said Fiachra MacCana, head of research at Ho Chi Minh
    "There is a hint of nervousness in air with investors
expecting the speech to lay out a possible rationale for a rate
hike before the year-end," MacCana said.
    MSCI's broadest index of Asia-Pacific shares outside Japan
 was up 0.2 percent at 0440 GMT.

    For Asian Companies click;  

  STOCK MARKETS                                           
  Change at 0440 GMT                                      
  Market              Current       Prev close   Pct Move
  Singapore           2872.64       2869.57      0.11
  Bangkok             1552.83       1547.55      0.34
  Manila              7856.1        7866.13      -0.13
  Jakarta             5430.087      5403.992     0.48
  Kuala Lumpur        1685.28       1682.06      0.19
  Ho Chi Minh         659.25        660.77       -0.23
  Change on year                                 
  Market              Current       End 2015     Pct Move
  Singapore           2872.64       2882.73      -0.35
  Bangkok             1552.83       1288.02      20.56
  Manila              7856.1        6952.08      13.00
  Jakarta             5430.087      4593.008     18.23
  Kuala Lumpur        1685.28       1692.51      -0.43
  Ho Chi Minh         659.25        579.03       13.85

 (Reporting by Krishna V Kurup in Bengaluru; Editing by
Subhranshu Sahu)
0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below