July 6, 2017 / 5:08 AM / a year ago

SE Asia Stocks-Cautious after Fed minutes; Philippines, Indonesia up

    By Chandini Monnappa
    July 6 (Reuters) - Southeast Asian markets trod with caution
on Thursday after minutes from the U.S. Federal Reserve's last
meeting showed policymakers were split on the outlook for
inflation and how it might affect the future pace of interest
rate rises.
    The minutes of the Fed's June policy meeting released on
Wednesday also showed that several officials wanted to announce
a start to the process of reducing the Fed's large portfolio of
Treasury bonds and mortgage-backed securities by the end of
August but others wanted to wait until later in the
    "The key parts of the markets are still reluctant to move
forward as the minutes of the Fed meet show that even the
committee itself is still mixed about the proper measures to
reduce the balance sheet of the U.S. Federal Reserve,"
said Rakpong Chaisuparakul, a strategist with KGI Securities
    MSCI's broadest index of Asia-Pacific shares outside Japan
 was little changed on Thursday.
    Risk sentiment in Asia took a hit this week due to tensions
on the Korean peninsula after North Korea launched an
intercontinental ballistic missile into Japanese waters, causing
the U.S. to warn that it was ready to use force if need be to
stop the missile program.
    In Southeast Asia, Philippine shares gained 0.5
percent aided by industrial and financial stocks.
    International Container Terminal Services Inc was
up as much as 1.3 percent while Ayala Corp gained as
much as 1.5 percent to touch its highest in three weeks.
    Indonesian shares rose 0.4 percent, on the back of
gains in financials and consumer staples.
    PT Bank Negara Indonesia (Persero) Tbk and Bank
Mandiri (Persero) Tbk PT were up as much as 0.8
percent and 0.9 percent, respectively.
    Vietnam shares gained 0.2 percent, bolstered by
consumer staples and financial stocks.
    Vietnam Dairy Products JSC rose as much as 1
percent to hit a record high while Vietcombank climbed
0.9 percent.
    On the other end, Singapore shares slipped 0.3
percent, with financial stocks leading the losses.
    Thailand dropped 0.3 percent hurt by energy stocks.
    Oil prices tumbled about 4 percent on Wednesday on rising
exports by the Organization of the Petroleum Exporting Countries
(OPEC), but inched higher on Thursday on strong demand in the
United States.
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  Change on the day                                       
  Market             Current     previous close   Pct Move
  Singapore          3236.9      3248.71          -0.36
  Bangkok            1570.47     1575.02          -0.29
  Manila             7886.78     7848.84          0.48
  Jakarta            5847.467    5825.054         0.38
  Kuala Lumpur       1766.37     1768.16          -0.10
  Ho Chi Minh        780.58      778.32           0.29
  Change on year                                  
  Market             Current     End 2016         Pct Move
  Singapore          3236.9      2880.76          12.36
  Bangkok            1570.47     1542.94          1.78
  Manila             7831.27     6840.64          14.48
  Jakarta            5847.467    5296.711         10.40
  Kuala Lumpur       1766.37     1641.73          7.59
  Ho Chi Minh        780.58      664.87           17.40

 (Reporting by Chandini Monnappa; Editing by Amrutha Gayathri)
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