August 1, 2017 / 5:28 AM / a year ago

SE Asia Stocks-Philippines falls about 1 pct; Vietnam hits fresh 9-yr high

    By Sandhya Sampath
    Aug 1 (Reuters) - Philippine shares fell nearly 1 percent on
Tuesday on continued window dressing ahead of key corporate
earnings this week, while Vietnam hit a fresh nine-year high
with material and energy stocks leading the gains.
    Most other Southeast Asian markets were subdued in
lacklustre trade ahead of the release of a clutch of global
economic data.
    The Philippine Stock Exchange PSEI Index was headed
for a second straight session of fall with financials and
industrials leading the broad-based decline.
    The index was down on Monday because of month-end window
dressing, and it is a continuation of that move on Tuesday, said
Joseph Roxas, president of Manila-based Eagle Equities Inc.
    On a technical basis, the failure to convincingly break the
old high of 8,046-8,048 is the reason for the index going a
little lower, Roxas added.
    Index heavyweight SM Prime Holdings Inc fell 2
percent, while telecom company PLDT Inc declined 1
percent ahead of its quarterly results due later in the day. 
    "I think there is some anticipation about second-quarter
results which are due anytime. One of the heavyweights is of
course PLDT and expectations are not good for that," said Roxas.
    Thai shares edged down, with financials losing the
most. Siam Commercial Bank PCL fell 0.7 percent,
heading for a third session of drop.
    Indonesian shares slipped with consumer and
industrial stocks leading the drop, after data showed factory
output contracted again in July.
    Vietnam shares rose as much as 0.4 percent to their
highest in nine years, bolstered by gains in material and energy
    Factory output in Vietnam expanded in July again, though at
a slower pace than in the previous month, according to the
Nikkei Vietnam Purchasing Managers' Index.
    Hoa Phat Group JSC gained 1.2 percent, while 
Petrovietnam Gas Joint Stock Corp rose 1.1 percent.
    Malaysian shares gained as much as 0.5 percent, with
financials and consumer cyclicals leading the gains. 
    Malaysia's manufacturing activity contracted in July on the
back of weaker output and new orders, though the rate of
contraction was slower than in June.   
For Asian Companies click; 
  Change on day                                         
  Market          Current      Previous Close   Pct Move
  Singapore       3334.2       3329.52          0.14
  Bangkok         1575.21      1576.08          -0.06
  Manila          7950.61      8018.05          -0.84
  Jakarta         5828.846     5840.939         -0.21
  Kuala Lumpur    1768.18      1760.03          0.46
  Ho Chi Minh     786.34       783.55           0.36
  Change on year                                
  Market          Current      End 2016         Pct Move
  Singapore       3334.2       2880.76          15.74
  Bangkok         1575.21      1542.94          2.09
  Manila          7950.61      6840.64          16.23
  Jakarta         5828.846     5296.711         10.05
  Kuala Lumpur    1768.18      1641.73          7.70
  Ho Chi Minh     786.34       664.87           18.27

 (Reporting by Sandhya Sampath; Editing by Subhranshu Sahu)
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