February 27, 2017 / 10:37 AM / a year ago

SE Asia Stocks-Most down as investors await cues from Trump speech

    By Susan Mathew
    Feb 27 (Reuters) - Most Southeast Asian stock markets ended
down in dull trading on Monday as investors took a cautious
stance ahead of U.S. President Donald Trump's speech to a joint
session Congress on Tuesday, when he is expected to shed light
on proposed tax cuts among other policy proposals.
    Trump is expected to unveil plans to cut and simplify the
tax system and make American companies more globally competitive
with lower rates and changes to encourage U.S. manufacturing.

    Analysts warned that if Trump's plans lacked details on
execution, it may end Wall Street's record-setting run.

    "What is affecting the market is how Trump will address the
Congress and I guess Fed Chairman Janet Yellen will also speak
in the Congress," said Manny Cruz, chief strategist at Asiasec
Equities Inc.
    "So, there is a lot of tension in the market at this point.
If you look at the broad regional market, it is simply moving
    The regional markets were in line with their Asian peers as
MSCI's broadest index of Asia-Pacific shares outside Japan
 fell 0.3 percent.
    Philippine shares pared its gains earlier in the
session, closing down 0.4 percent, with consumer stocks JG
Summit Holdings and Universal Robina Corp 
declining more than 1.5 percent.
    Malaysia also gave up earlier gains to close down 
0.3 percent, as basic material shares lost ground with Petronas
Chemicals Group Bhd losing 1.5 percent.
    Thai shares closed at their lowest in more than a
month, down 0.4 percent as steel stocks Asia Metals and
Permsin Steel plummeted 18 percent.
    Singapore shares fell 0.3 percent, while Indonesia
 edged down marginally, snapping three straight sessions
of gains.
    Bucking the trend, Vietnam Shares gained 0.4 percent,
after two losing sessions, buoyed by the financial sector, with
Joint Stock Commercial Bank for Foreign Trade of Viet Nam
 gaining 2 percent.
For Asian Companies click;  

  Market            Current      Previous Close   Pct Move
  Singapore         3108.62      3117.03          -0.27
  Bangkok           1558.03      1564.59          -0.42
  Manila            7232.47      7258.99          -0.37
  Jakarta           5382.874     5385.906         -0.06
  Kuala Lumpur      1693.84      1698.35          -0.27
 Ho Chi Minh        717.44       714.47           0.42
  Change on year                                  
  Market            Current      End 2016         Pct Move
  Singapore         3108.62      2880.76          7.91
  Bangkok           1558.03      1542.94          0.98
  Manila            7232.47      6840.64          5.7
  Jakarta           5382.874     5296.711         1.63
  Kuala Lumpur      1693.84      1641.73          3.17
 Ho Chi Minh        717.44       664.87           7.9
 (Reporting by Susan Mathew in Bengaluru; additional reporting
by Sandhya Sampath; Editing by Amrutha Gayathri)
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