October 18, 2018 / 9:55 AM / a month ago

SE Asia Stocks-Most drop in line with broader Asia

    By Rashmi Ashok
    Oct 18 (Reuters) - Most Southeast Asian stock markets closed
lower on Thursday, in line with losses across broader Asia,
while Philippine shares extended their gains to a third straight
session.
    MSCI broadest index of Asia-Pacific shares outside Japan
 fell 0.7 percent.
    Indonesian shares closed 0.4 percent lower, weighed
down by telecom stocks such as PT Telekomunikasi Indonesia Tbk
, which dropped 3.9 percent, and antenna and tower
service provider PT Tower Bersama Infrastructure Tbk,
which retreated 3.7 percent.
    The index of the country's 45 most liquid stocks
slipped 0.9 percent. 
    Singapore's stocks slipped 0.1 percent, as
real-estate companies took a hit from the city-state's stricter
guidelines on maximum number of units in new blocks of private
flats, in a move to tackle cramped housing.
    Property developer City Developments Ltd fell 2.3
percent, while another real estate stock UOL Group Ltd
declined 1.4 percent.
    Philippine stocks bucked the broader trend, posting a
gain of 0.6 percent. Heavyweight industrials such as SM
Investments Corp gained 2.1 percent, while Aboitiz
Equity Ventures Inc rose 3.5 percent.
    Malaysian equities dropped, with Telekom Malaysia
Berhad shedding nearly 2 percent, and oil and gas
refiner Petronas Gas Berhad losing 1 percent.
    The government predicted wider fiscal deficits and slower
economic growth than earlier forecast through 2020, as it
unveiled new forecasts in the mid-term review of its five-year
development plan.
    Thailand's stocks fell 0.7 percent, dragged down by
industrial and consumer stocks. Marine freight operator Precious
Shipping PCL shed 1.6 percent, while construction
supplies provider Dynasty Ceramic PCL slipped 0.9
percent.

    
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SOUTHEAST ASIAN STOCK MARKETS
    
  Market           Current       Previous close  Pct Move
  Singapore        3069.67       3071.1          -0.05
  Bangkok          1682.91       1695.04         -0.72
  Manila           7141.25       7099.68         0.59
  Jakarta          5845.242      5868.62         -0.40
  Kuala Lumpur     1738.01       1740.59         -0.15
  Ho Chi Minh      963.47        971.6           -0.84
                                                 
  Change on year                                 
  Market           Current       End 2017        Pct Move
  Singapore        3069.67       3402.92         -9.79
  Bangkok          1682.91       1753.71         -4.04
  Manila           7141.25       8558.42         -16.56
  Jakarta          5845.242      6355.654        -8.03
  Kuala Lumpur     1738.01       1796.81         -3.27
  Ho Chi Minh      963.47        984.24          -2.11
 
 (Reporting by Rashmi Ashok; Editing by Amrutha Gayathri)
  
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