October 27, 2016 / 4:51 AM / 2 years ago

REFILE-SE Asia Stocks-Mostly down; Philippines extends losses to sixth day

(Corrects day of the week in paragraph 1)
    By Geo  Tharappel
    Oct 27 (Reuters) - Southeast Asian shares were largely lower
on Thursday, in line with broader Asia, with the Philippine
index losing ground for a sixth session as President Rodrigo
Duterte's threats to the United States spooked investors.
    Asian shares fell after disappointing earnings from
technology giant Apple dragged on Wall Street, while
oil prices were stable, but below $50/barrel.  
    Duterte, who is visiting U.S.-ally Japan, kept up his recent
tirade against the U.S. on Wednesday saying he might end defence
treaties with Washington. 
    "At first we were not really taking it seriously, but right
now there is an impact on the market because he's (Duterte) been
consistent lately," said Mikey Macainag, analyst with
Manila-based Sunsecurities Inc.
    Philippine and U.S. military officials will meet next month
to decide the fate of decades-old joint exercises, according to
defence sources. 
    The Philippine index, which fell as much as 0.9
percent, is on track for a sixth session of losses led by
financials and industrial stocks. 
    Property developer SM Prime Holdings was among the
top losers on the index, falling 2 percent. 
    "Moving forward...for some companies that lease property,
the rental income from the BPO industry will be affected,"
Macainag added.
    Indonesian stocks bucked the trend to rise as much as 0.5
percent, with trading volumes nearly twice the 30-day average,
boosted by financials and telecommunication services.
    Index heavyweights Telekomunikasi Indonesia and
Bank Mandiri rose 1.4 and 2.0 percent respectively.
    "(Telekomunikasi Indonesia)'s earnings continue to give
positive surprise... valuation remains attractive compared with
regional telecommunication rivals," said Mandiri Sekuritas in a
    Thailand shares rebounded from Wednesday's losses
led by financials and energy, while Singapore, Vietnam
 and Malaysia were flat-to-low.
For Asian Companies click;  

 Change at 0443 GMT                                        
  Market               Current       Prev close   Pct Move
  Singapore            2826.98       2828.57      -0.06
  Bangkok              1495.33       1492.12      0.22
  Manila               7427.68       7494.41      -0.89
  Jakarta              5419.608      5399.679     0.37
  Kuala Lumpur         1667.88       1673.92      -0.36
  Ho Chi Minh          674.14        673.61       0.08
  Change on year                                  
  Market               Current       End 2015     Pct Move
  Singapore            2826.98       2882.73      -1.93
  Bangkok              1495.33       1288.02      16.10
  Manila               7427.68       6952.08      6.84
  Jakarta              5419.608      4593.008     18.00
  Kuala Lumpur         1667.88       1692.51      -1.46
  Ho Chi Minh          674.14        579.03       16.43

 (Reporting by Geo Tharappel in Bengaluru; Additional reporting
by Fransiska Nangoy; Editing by Sunil Nair)
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