October 7, 2016 / 10:02 AM / 2 years ago

SE Asia Stocks-Slip ahead of U.S. jobs data; Political woes continue to mar Philippines

By Anusha Ravindranath
    Oct 7 (Reuters) - Southeast Asian stock markets fell on
Friday as traders remained on edge ahead of a key U.S. jobs
report that could signal the timing of the next Federal Reserve
rate hike.
    Strong U.S. jobs numbers can fuel the expectations of a Fed
rate hike in December and ripple through markets. 
    The International Monetary Fund warned on Thursday that a
disorderly reaction to possible U.S. interest rate hikes could
disrupt capital flows and heighten asset price volatility in
    Asian shares dropped with MSCI's broadest index of
Asia-Pacific shares outside Japan losing around
0.4 percent. 
    Several U.S. economic indicators paint the picture of the
economy being on a firmer footing, said Grace Aller of AP
Securities, adding Fed officials are running out of reasons to
further delay rate hikes.
    Philippine shares posted their second straight weekly
loss, with telecom stocks leading the decline.
    "Duterte's antics is probably getting on to the nerves of
investors", said Mikey Macainag of Sunsecurities in Manila.
"Everybody wants to be aligned with the U.S. but unfortunately
our government is saying that we don't really need them. Let's
see what happens after the (U.S.) elections". 
    Tensions on the political front rose after the Philippine
defence minister said the military could manage without U.S.
    Singapore shares slipped, sparked by a sell-off in
telecom and consumer services stocks, while Vietnam shed
more than 1 percent during the session.
    Thai shares fell after four days of gains, but rose
1.4 percent on the week, while Malyasian shares closed
almost flat, but gained 0.8 percent on the week. 
For Asian Companies click;  

 Change on day                                         
  Market           Current       previous     Pct Move
  Singapore        2875.24       2885.22      -0.35
  Bangkok          1504.34       1513.86      -0.63
  Manila           7578.29       7620.16      -0.55
  Jakarta          5377.149      4885.163     -0.6
  Kuala Lumpur     1665.38       1666.73      -0.08
  Ho Chi Minh      683.95        687.32       -0.49
  Change so far                               
 this year                                    
  Market           Current       End prev yr  Pct Move
  Singapore        2875.24       2882.73      -0.26
  Bangkok          1504.34       1288.02      16.79
  Manila           7578.29       6952.08      9.01
  Jakarta          4879.965      4593.008     6.25
  Kuala Lumpur     1665.38       1692.51      -1.60
  Ho Chi Minh      683.95        579.03       18.12

 (Reporting by Anusha Ravindranath in Bengaluru; Additional
reporting by Susan Mathew; Editing by Amrutha Gayathri)
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