October 12, 2016 / 5:36 AM / a year ago

SE Asia Stocks-Thailand falls 2.7 pct, Philippines down more than 1 pct

By Susan Mathew
    Oct 12 (Reuters) - Most Southeast Asian stock markets fell
on Wednesday, tracking Asian peers, on subdued risk sentiment as
expectations the U.S. Federal Reserve would hike interest rates
in December lifted the dollar and pushed up bond yields
    Sentiment also took a hit as a dour start to Wall Street's
corporate earnings season knocked U.S. stocks. 
    The key reason why regional markets are down today is
because of fears of an imminent rate hike in the U.S., said Taye
Shim, an analyst with Daewoo Securities in Indonesia.
    U.S. interest rate futures <0#FF:> are pricing in about 75
percent chance of a rate hike by December, and investors are
growingly convinced that the Fed will avoid a hike at its next
meeting less than a week before the U.S. presidential election
in November.
    The spectre of rising U.S. interest rates helped lift the
dollar's index against a basket of six major currencies 
 to its highest in seven months, while the 10-year U.S.
Treasuries yield touched its highest level since
early June. 
    "Speculation is that a hike in interest rates would lead to
some of the flow destruction in the markets and therefore, it
adds some pressure on sentiment," Shim said.
    The International Monetary Fund warned last week that a
disorderly reaction to possible U.S. interest rate hikes could
disrupt capital flows and heighten asset price volatility in
    Philippines fell as much as 1.4 percent to hit its
lowest in nearly 4 months, dragged down by energy and consumer
    Semirara Mining Corp and Ayala Corp were
among the biggest losers in their respective sectors.    
    Thai stocks fell as much as 2.7 percent to their
lowest in more than 3 months, pulled down by consumer stocks and
    Singapore fell nearly 1 percent to hit the lowest in
more than 2 weeks, while Indonesia and Malaysia 
were marginally lower.
    Bucking the trend, Vietnam rose slightly, its second
session of gains.
    Asian shares fell, with MSCI's broadest index of
Asia-Pacific shares outside Japan down 0.4
For Asian Companies click;  
 Change at 0526 GMT                                 
 Market                   Current   Previous close  Pct Move
 Singapore                2830.43   2856.13         -0.90
 Bangkok                  1402.98   1442.21         -2.72
 Manila                   7419.59   7520.82         -1.35
 Jakarta                  5378.269  5381.997        -0.07
 Kuala Lumpur             1666.73   1668.72         -0.12
 Ho Chi Minh              683.94    682.36          0.23
 Change so far                                      
 Market                   Current   End 2015        Pct Move
 Singapore                2830.43   2882.73         -1.81
 Bangkok                  1402.98   1288.02         8.93
 Manila                   7419.59   6952.08         6.72
 Jakarta                  5378.269  4593.008        17.10
 Kuala Lumpur             1666.73   1692.51         -1.52
 Ho Chi Minh              683.94    579.03          18.12
 (Reporting by Susan Mathew; Editing by Biju Dwarakanath)
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