October 26, 2016 / 10:17 AM / 2 years ago

SE Asia Stocks-Largely down; Philippines falls as Duterte tirade continues

By Sandhya Sampath
    Oct 26 (Reuters) - Most Southeast Asian stock markets ended
lower on Wednesday tracking regional peers, led by the
Philippines as President Rodrigo Duterte reiterated threats to
end U.S.-Philippines military pacts.
    Philippine shares ended lower for a fifth consecutive
session, closing more than 1 percent lower.
    Financials and consumer staples were hurt the most, with
conglomerates Ayala Land Inc and JG Summit Holdings,
Inc down 1.6 percent and 1.9 percent, respectively.
    Duterte, adding to his recent tirade against the United
States, said that he might end defence treaties with Washington.
    The Philippine leader's rhetoric comes in the backdrop of
his visit to U.S.-ally Japan, where his delegation is expected
to score  private-sector deals worth around $2 billion,
according to a BusinessWorld report, and has raised concerns
among investors. 
    MSCI's broadest index of Asia-Pacific shares outside Japan
 slid 0.8 percent as sentiment weakened by
declines in U.S. stocks and a more than one percent fall in oil
prices. [ 
    "Oil prices are softer and U.S. markets closed on the back
foot which also makes Asian equity markets look not particularly
upbeat," said Vishnu Varathan, a senior economist with
Singapore-based Mizuho Corporate Bank.
    The Singapore Index closed 0.9 percent lower, in a
second session of losses, weighed down by energy and consumer
    Oil rig builder Sembcorp Industries Ltd, the
biggest loser on the benchmark index, lost nearly 4 percent.
   Investors shrugged off the better-than-expected surge in
Singapore's industrial production in September. 
    Thai shares closed nearly 1 percent lower, dragged
down by energy and industrials, with oil and natural gas refiner
PTT Exploration and Production Public Co Ltd closing
2.1 percent lower. 
    Investor reaction was muted to an unexpected increase in
Thailand's customs-cleared exports for September, an encouraging
sign for the trade-dependent economy still struggling to regain
    Malaysian stocks were marginally lower, while
Vietnam stocks closed down 0.4 percent.
For Asian Companies click;  

  Change at 0945 GMT                                          
  Market                Current     Previous Close  Pct Move
  Singapore             2866.05     2867.21         -0.89
  Bangkok               1492.12     1506.47         -0.95
  Manila                7494.41     7580.22         -1.13
  Jakarta               5399.679    5397.821        0.03
  Kuala Lumpur          1673.92     1677.43         -0.21
  Ho Chi Minh           673.61      676.18          -0.38
  Change on year                                    
  Market                Current     End prev yr     Pct Move
  Singapore             2866.05     2882.73         -0.58
  Bangkok               1492.12     1288.02         15.85
  Manila                7494.41     6952.08         7.80
  Jakarta               5399.679    4593.008        17.56
  Kuala Lumpur          1673.92     1692.51         -1.10
  Ho Chi Minh           673.61      579.03          16.33

 (Reporting by Sandhya Sampath in Bengaluru; Editing by Amrutha
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