August 3, 2017 / 4:27 AM / 8 months ago

SE Asia Stocks-Flat to down on profit-taking; Philippines gives up early gains

    By Sandhya Sampath
    Aug 3 (Reuters) - Southeast Asian stock markets were flat to
down on Thursday as investors locked in gains after the Dow
Jones Industrial Average broke the 22,000 barrier for the first
time in its 121-year history.
    Political tensions after U.S. President Donald Trump signed
the Russia sanctions bill also weighed on investor sentiment.

    "I think it (Trump signing off new sanctions against Russia)
is a clear indication that geopolitical risk might escalate,"
said Taye Shim, head of research at Jakarta-based Mirae Asset
    MSCI's broadest index of Asia-Pacific shares outside Japan
 dropped 0.9 percent, with South Korea's
tech-heavy Kospi index shedding as much as 2.2 percent.
    In Southeast Asia, Philippine shares rose as much as
0.9 percent before trimming the gains to trade slightly higher.
    Property stocks were the biggest losers with both Ayala Land
 and SM Prime Holdings shedding as much as 0.7
percent, while banks led the gains with BDO Unibank Inc
and Bank of the Philippine Islands rising 0.9 percent
and 1.4 percent, respectively.    
    The Philippine market could follow the trend it had
exhibited on Wednesday - rise in the morning and fall later on
profit-taking, said Jeffrey Lucero, an equity research analyst
with RCBC Securities Inc.
    Singapore shares fell as much as 0.5 percent after
two straight sessions of gain, dragged down by telecom and
financial stocks.
    StarHub Ltd dropped 1.9 percent after the telecom
company reported a 21 percent fall in quarterly net profit after
market hours on Wednesday.
    Indonesian shares declined up to 0.4 percent ahead
of the release of the second-quarter GDP growth data.
    Expectations regarding the GDP growth are low given the fact
that there are growing concerns over the purchasing power of
Indonesians and the consumption recovery story, said Shim.
    Consumer staples and telecom stocks were the biggest losers
with Hanjaya Mandala Sampoerna Tbk PT declining 0.9
percent and Telekomunikasi Indonesia (Persero) Tbk PT
shedding 2.1 percent.
    An index of the country's 45 most liquid stocks
declined 0.5 percent.   
For Asian Companies click;  

 Change on day                                    
 Market            Current       Previous Close  Pct Move
 Singapore         3336.97       3348.8          -0.35
 Bangkok           1581.02       1580.54         0.03
 Manila            7877.91       7872.65         0.07
 Jakarta           5805.003      5824.249        -0.33
 Kuala Lumpur      1770.65       1770.61         0.00
 Ho Chi Minh       789.46        786.23          0.41
 Change on year                                   
 Market            Current       End 2016        Pct Move
 Singapore         3336.97       2880.76         15.84
 Bangkok           1581.02       1542.94         2.47
 Manila            7877.91       6840.64         15.16
 Jakarta           5805.003      5296.711        9.60
 Kuala Lumpur      1770.65       1641.73         7.85
 Ho Chi Minh       789.46        664.87          18.74
 (Reporting by Sandhya Sampath; Editing by Subhranshu Sahu)
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