July 28, 2016 / 5:34 AM / 2 years ago

SE Asia Stocks-Lower ahead of BOJ meeting; S'pore down on bleak jobs data

July 28 (Reuters) - Most Southeast Asian stocks were lower
on Thursday, in line with Asian peers, as investors turned
cautious ahead of a meeting by the Bank of Japan as it faces
political pressure to support Shinzo Abe's bigger-than-expected
fiscal spending package.
    Japan's economy minister called on the central bank to work
with the government to boost growth after the Japanese Prime
Minister sent a "powerful message" by announcing a 28 trillion
yen ($267 billion) stimulus package on Wednesday. 
    "Markets are watching out for BOJ's reaction in relation to
the announcement as there is no pre-commitment to anything
specific yet," said Vishnu Varathan of the Singapore-based
Mizuho Corporate Bank.
    "Nikkei's softer footing has also had an influence on the
broader markets."
    Japan's Nikkei fell nearly 1 percent, undermined by a
stronger yen and nerves before the BoJ's monetary policy
decision on Friday. 
    Asian stocks were mostly lower on Thursday as Chinese
equities deepened their losses, souring risk sentiment that had
improved earlier after the Federal Reserve provided a positive
assessment of the U.S. economy.
    The Fed left interest rates unchanged on Wednesday but said
near-term risks to the U.S. economic outlook had diminished.
    Philippines lost 1.2 percent, dragged down by
consumer staples and utilities.
    Infrastructure group Aboitiz Equity Ventures and
food-to-petrochemicals conglomerate JG Summit Holdings 
were among the top losers on the index.
    Markets are falling on profit-taking as a lot of large-cap
stocks have posted gains, and there are no local catalysts
holding the market, said Grace Aller, an analyst with
Manila-based AP Securities.
    Singapore stocks were trading nearly 1 percent lower
as labour market data showed the unemployment rate rose to 2.1
percent in the second quarter, at levels last seen in the first
quarter of 2014. 
    Malaysian stocks fell 0.5 percent, led by consumer
cyclicals and consumer staples. 
    Casino operator Genting Bhd, the biggest loser on
the index, fell 5.3 percent.
    Jakarta and Vietnam fell marginally, while
Thai stocks inched up.
For Asian Companies click;  

  STOCK MARKETS                                    
  Change at 0500                                   
  Market          Current      Previous    Pct Move
  Singapore       2912.73      2941.49     -0.98
  Bangkok         1517.48      1515.4      0.14
  Manila          8000.19      8100.48     -1.24
  Jakarta         5268.676     5274.361    -0.11
  Kuala Lumpur    1654.83      1663.56     -0.52
  Ho Chi Minh     653.65       656.11      -0.37
  Change on year                           
  Market          Current      End 2015    Pct Move
  Singapore       2912.73      2882.73     1.04
  Bangkok         1517.48      1288.02     17.81
  Manila          8000.19      6952.08     15.08
  Jakarta         5268.676     4593.008    14.71
  Kuala Lumpur    1654.83      1692.51     -2.23
  Ho Chi Minh     653.65       579.03      12.89
 (Reporting by Hanna Paul; Editing by Biju Dwarakanath)
0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below