July 22, 2016 / 10:02 AM / 2 years ago

SE Asia Stocks-Most down ahead of BOJ policy decisions, weak Wall Street

By Aparajita Saxena
    July 22 (Reuters) - Most Southeast Asian stocks markets
ended lower on Friday after weak U.S. corporate results, and as
statements from the Bank of Japan governor hinting at no plans
to expand stimulus programmes hurt investor sentiment.
    In a BBC interview broadcast on Thursday, BOJ Governor
Haruhiko Kuroda ruled out the idea of using "helicopter money"
to combat deflation, as policymakers in Tokyo gear up to expand
existing stimulus programmes. 
    "Regional markets are taking cues from the decline in Wall
Street. Corporate earnings have failed to impress investors, and
that has led to a downdip on sentiment in Asian markets," said
Manny Cruz, an analyst with Asiasec Equities Inc in Manila.
    "It seems that plans for further stimulus in Japan have
started waning and monetary easing cannot be supported at this
time, which resulted in the weakness in our markets. Japan may
wait for further cues before engaging in monetary easing," he
    Analysts said investor confidence also took a beating on
expectations of a hawkish stance from Federal Reserve chair
Janet Yellen at the FOMC meeting on July 27.
    "While the probability of a hike remains below 10 percent on
July 27, Fed is gaining confidence that it can raise rates as
early as September," said Taye Shim, an analyst with
Jakarta-based Daewoo Securities, in a note.
    Vietnam fell on profit-taking, falling as much as 2.9
percent intraday. It lost 2.2 percent over the week.
    Indonesia eased 0.38 percent after its central bank
left key rates unchanged on Thursday, against market
expectations for another cut. 
    The index gained 1.70 percent on the week.
    The Philippines fell 0.9 percent, its worst intraday
movement in nearly a month. The index posted marginal losses for
the week.
    For Asian Companies click;  
  STOCK MARKETS                                              
  Change on day                                              
  Market              Current       Previous Close  Pct Move
  Singapore           2945.35       2940.48         0.17
  Bangkok             1509.13       1502.7          0.43
  Manila              8025.35       8102.3          -0.95
  Jakarta             5197.251      5216.973        -0.38
  Kuala Lumpur        1657.42       1657.54         -0.01
  Ho Chi Minh         649.87        659.57          -1.47
  Change on year                                    
  Market              Current       End 2015        Pct Move
  Singapore           2945.35       2882.73         2.17
  Bangkok             1509.13       1288.02         17.17
  Manila              8025.35       6952.08         15.44
  Jakarta             5197.251      4593.008        13.16
  Kuala Lumpur        1657.42       1692.51         -2.07
  Ho Chi Minh         649.87        579.03          12.23
 (Reporting by Aparajita Saxena; Editing by Sunil Nair)
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