September 23, 2016 / 4:41 AM / 2 years ago

SE Asia Stocks-Flat to lower as investors booked profits

By Suhail Hassan Bhat
    Sept 23 (Reuters) - Southeast Asian stock markets were flat
to lower on Friday, as investors booked profits on recent
gainers after the U.S. Federal Reserve left interest rates
unchanged and the Bank of Japan overhauled its monetary policy
earlier this week.
    Thai shares fell about 1 percent, underperforming
other markets in the region, and were headed for their second
session of declines in nine in thin trading.
    Bank, energy and property stocks led the losses. Siam
Commercial Bank Pcl fell 1.3 percent, while oil
conglomerate PTT Pcl dropped 0.59 percent.     
    Markets in Southeast Asia are experiencing a technical
correction given that it is a Friday, said Mikey Macainag, an
analyst with Manila-based Sunsecurities Inc, adding that
investors were also factoring in the U.S. presidential
    Indonesian shares were down after two consecutive
sessions of gains, hurt by financial and consumer discretionary
stocks. Automotive conglomerate PT Astra International 
fell 1.71 percent, while PT Bank Negara Indonesia (Persero) Tbk
 declined nearly 1 percent.
    Since the rate cut by the Bank Indonesia has already been
factored in over the last couple of days, there could be some
profit-taking in stocks that have rallied this week, PT Trimegah
Sekuritas Indonesia said in a note.
    The central bank on Thursday escalated its efforts to spur
lending by cutting its benchmark interest rate for the fifth
time this year. 
    Philippine shares were on track to snap four
consecutive days of gains with industrials and financials
leading the decline. JG Summit Holdings dropped as much
as 3.8 percent.
    The country's central bank kept its policy interest rates
unchanged on Thursday as expected, and lowered its inflation
forecast slightly for the year. 
    Singapore shares were marginally down, heading for
their third straight session of falls, ahead of August inflation
data scheduled later in the day.
    Vietnam and Malaysia markets were almost
    For Asian Companies click;  

 STOCK MARKETS                                                
 Change at 0355 GMT                                           
 Market                   Current   Previous Close  Pct Move  
 Singapore                2844.17   2846.06         -0.07     
 Bangkok                  1491.66   1505.99         -0.95     
 Manila                   7709.44   7762.35         -0.68     
 Jakarta                  5374.716  5380.262        -0.10     
 Kuala Lumpur             1669.09   1669.66         -0.03     
 Ho Chi Minh              671.05    671.38          -0.05     
 Change this year                                             
 Market                   Current   End 2015        Pct Move  
 Singapore                2844.17   2882.73         -1.34     
 Bangkok                  1491.66   1288.02         15.81     
 Manila                   7709.44   6952.08         10.89     
 Jakarta                  5374.716  4593.008        17.02     
 Kuala Lumpur             1669.09   1692.51         -1.38     
 Ho Chi Minh              671.05    579.03          15.89     

 (Reporting by Suhail Hassan Bhat; Editing by Subhranshu Sahu)
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