April 6, 2017 / 10:11 AM / a year ago

CORRECTED-SE Asia Stocks-Fall over capital outflow fears; Indonesia posts record closing high

 (Corrects Reuters instrument code for Thai index in last
    By Ambar Warrick
    April 6 (Reuters) - Most Southeast Asian stock markets
closed lower on Thursday on fears of capital outflows from the
region after minutes of the U.S. Federal Reserve's last meeting
showed that most policymakers think it should start trimming its
massive stimulus.
    The U.S central bank's stimulus since the global financial
crisis has driven capital inflows into Asia's emerging markets,
and a reduction in it could prompt outflows from the region.
    The minutes released on Wednesday of the March 14-15 policy
discussion showed that most Federal Reserve policymakers think
the central bank should take steps to begin trimming its $4.5
trillion balance sheet later this year as long as the economic
data holds up.
    "Southeast Asian markets are basically following the
performance of U.S. stocks last night after the minutes of the
FOMC (Federal Open Market Committee) meeting," said Lexter
Azurin, an equity analyst with AB Capital Securities.
    Wall Street ended lower on Wednesday after a late-afternoon
reversal following signals from the Fed.
    "Investors are taking a cautious stance as there is a bit of
uncertainty over the next rate hike."
    Investors were also wary ahead of the much anticipated
meeting between U.S. President Donald Trump and his Chinese
counterpart Xi Jinping, the first between the world's two most
powerful leaders.
    MSCI's broadest index of Asia-Pacific shares outside Japan
 was down about 0.6 percent at 0833 GMT.
    Indonesian shares recovered from early falls to
close at a record high, rising for a fourth straight session. 
    The index of the region's 45 most liquid stocks
was up about 0.1 percent. 
    Financials were the main gainers with Bank Mandiri (Persero)
 posting a two-year closing high while Bank Central
Asia ended at an all-time high.
    Philippine shares closed 0.3 percent lower after
touching a five-month high earlier, with financial and real
estate stocks leading the decline.
    "I think the Philippine market is just taking a breather.
There has been a renewed interest in the market over the past
few days which pushed it up," said Azurin.
    Business process outsourcing services provider Ayala Corp
 closed 2.8 percent lower, while property developer Ayala
Land ended down 2.6 percent.
    Vietnam and Thailand were closed for Hung
King's Day and Chakri Day, respectively.
For Asian Companies click;  

  Market           Current       previous     Pct Move
  Singapore        3175.59       3176.55      -0.03
  Manila           7565.32       7584.21      -0.25
  Jakarta          5680.239      5676.98      0.06
  Kuala Lumpur     1739.56       1744.67      -0.29
  Change so far                               
 this year                                    
  Market           Current       End 2016     Pct Move
  Singapore        3175.59       2880.76      10.23
  Bangkok          1582.12       1542.94      2.54
  Manila           7565.32       6840.64      10.59
  Jakarta          5680.239      5296.711     7.24
  Kuala Lumpur     1739.56       1641.73      5.96
 Ho Chi Minh       723.22        664.87       8.78
 (Reporting by Ambar Warrick in Bengaluru; Editing by Subhranshu
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