October 21, 2016 / 6:01 AM / 2 years ago

SE Asia Stocks-Largely down; Philippines extends falls

By Susan Mathew
    Oct 21 (Reuters) - Most Southeast Asian stock markets were
down on Friday with Philippine shares falling for a second day
after President Rodrigo Duterte's overtures towards China caused
some uncertainty and dampened investor sentiment.
    Philippine trade minister Ramon Lopez's clarification that
the archipelago nation will maintain its trade and economic ties
with the United States failed to lift the market. 
    Duterte announced his "separation" from Washington on
Thursday and said that he had realigned with China as the two
agreed to resolve their South China Sea dispute through talks.
    Sentiment was also hurt by U.S. stocks ending down after a
choppy session on Thursday as investors digested the latest
round of corporate results. 
    Singapore shares fell as much as 0.84 percent, their
biggest intraday percentage loss in a week, tracking the dip in
crude oil prices due to a strengthening dollar.  
    The dollar rose to its highest level since March against a
basket of currencies on Thursday, boosted by a fall in
the euro after the European Central Bank left ultra-loose
monetary policy unchanged. 
    The oil & gas index was 2.2 percent lower,
with oil-rig builders Keppel Corp and Sembcorp
Industries Ltd shedding over 3 percent and 1 percent
    Indonesia eased marginally, shrugging off a
25-basis-point rate cut by the central bank after market hours
on Thursday. 
    A senior official at Bank Indonesia signalled that it may
continue to ease policy after the rate cut, but the timing will
depend on data including the inflation rate and current account
    Basic materials and consumer stocks lost the most in
Jakarta. Chandra Asri Petrochemical Tbk fell 7
percent, while Astra International Tbk was 0.3 percent
    For Asian Companies click;  

Change at 0517 GMT
  Market            Current       Prev close   Pct Move
  Singapore         2825.53       2842.62      -0.60
  Bangkok           1497.14       1492.73      0.30
  Manila            7676.33       7713.32      -0.48
  Jakarta           5396.608      5403.69      -0.13
  Kuala Lumpur      1669.81       1667.18      0.16
  Ho Chi Minh       684.76        686.39       -0.24
  Change on year                               
  Market            Current       End 2015     Pct Move
  Singapore         2825.53       2882.73      -1.98
  Bangkok           1497.14       1288.02      16.24
  Manila            7676.33       6952.08      10.42
  Jakarta           5396.608      4593.008     17.50
  Kuala Lumpur      1669.81       1692.51      -1.34
  Ho Chi Minh       684.76        579.03       18.26
 (Reporting by Susan Mathew in Bengaluru; Editing by Gopakumar
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