August 30, 2016 / 10:32 AM / 2 years ago

SE Asia Stocks-Tepid as investors await US data for hints on Fed rate hike

By Geo  Tharappel
    Aug 30 (Reuters) - Most Southeast Asian stock markets closed
lower on Tuesday as investors continued to digest hawkish
comments from U.S. Federal Reserve officials last week.
    Fed Chair Janet Yellen said on Friday the case for a rate
hike was strengthening, but provided little detail on when it
would next move.   
    Traders now await the August payrolls report due on Friday,
which is likely to miss expectations, for further clues on the
U.S. economy. 
    "There is a good chance that the rate hike will happen in
December, rather than in September," said Mikey Macainag, an
analyst with Philippines-based Sunsecurities Inc.
    "But if the U.S. payrolls data is good, we can expect the
rate hike in September... There is going to be a continuation of
this bull market."
    Philippine shares fell for a fifth consecutive
session, led by telcos including sector heavyweight PLDT Inc
    With most of the catalysts like earnings and GDP numbers
already out and the absence of any market-stealing development,
stocks are in a correction phase, said Manny Cruz, an analyst
with Asiasec Equities Inc in Manila.
    Vietnam shares extended gains into a third straight
session, helped by energy stocks including Petrovietnam Gas
Joint Stock Corp as global crude prices rose on
production suspensions in the U.S. Gulf due to an expected
tropical storm and speculation that producers meeting in Algeria
next month will act to prop up prices. 
    Thai shares eked out marginal gains, shrugging off
disappointing July manufacturing output data. 
    Asian shares outside Japan gained 0.6
percent, recovering around half of Monday's loss. 
For Asian Companies click;  

  STOCK MARKETS                                             
  Change on day                                             
  Market             Current       Previous close  Pct Move
  Singapore          2828.39       2829.43         -0.04
  Bangkok            1546.13       1544.15         0.13
  Manila             7794.93       7845.49         -0.64
  Jakarta            5362.316      5370.764        -0.16
  Kuala Lumpur       1678.06       1681.6          -0.21
  Ho Chi Minh        672.67        669.44          0.48
  Change this year                                 
  Market             Current       End 2015        Pct Move
  Singapore          2828.39       2882.73         -1.89
  Bangkok            1546.13       1288.02         20.04
  Manila             7794.93       6952.08         12.12
  Jakarta            5362.316      4593.008        16.75
  Kuala Lumpur       1678.06       1692.51         -0.85
  Ho Chi Minh        672.67        579.03          16.17

 (Reporting by Geo Tharappel; Editing by Subhranshu Sahu)
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