October 28, 2016 / 10:32 AM / 2 years ago

SE Asia Stocks-Largely down; Philippines continues to slip

By Sandhya Sampath
    Oct 28 (Reuters) - Most Southeast Asian stock markets ended
lower on Friday tracking broader Asia, led by the Philippines,
which fell for the seventh consecutive session, erasing some of
its earlier losses in the latter half of the day. 
    Philippine President Rodrigo Duterte's ongoing rants against
the United States have weighed on investor sentiment for more
than a week, with the Philippine index posting a weekly loss of
3.2 percent. 
    Investors continue to be cautious about Duterte's foreign
policy after weeks of verbal attacks on the United States,
including threats to end military agreements, and his apparent
overtures towards China.    
    "The president has been going on a lot of business trips
which is adding on to the investor confidence, but his negative
comments against the U.S. adds to the political noise. Maybe
that is also spurring net foreign selling in our market," said
Victor Felix, an analyst with Manila-based AB Capital
    Philippine shares fell as much as 1.7 percent earlier
and closed 0.5 percent lower, dragged down by financials and
consumer cyclicals, with conglomerates SM Prime Holdings Inc
 and SM Investments Corp losing 0.7 percent and
1.2 percent respectively.  
    Philippine stock markets will be closed on Monday and
Tuesday for special non-working holidays.
    "Lot of investors are closing positions ahead of the long
weekend," Felix said.
     The Singapore index lost 0.5 percent on the day and
the week. DBS Group Holdings Ltd was the biggest
decliner in the financial sector, just ahead of its
third-quarter results, due next week.
    Thai shares closed 0.3 percent lower, pulled down by
the energy sector, with the country's top energy firm PTT PCL
 closing 0.6 percent lower, on weak oil prices. The
index lost 0.5 percent this week. 
    Indonesia closed 0.1 percent lower, but Vietnam
 ended with a gain of 0.8 percent.
For Asian Companies click;  

  Change at 0957 GMT                                          
  Market               Current     Previous Close   Pct Move
  Singapore            2816.26     2828.94          -0.45
  Bangkok              1494.44     1498.36          -0.26
  Manila               7404.8      7445.14          -0.54
  Jakarta              5410.269    5416.836         -0.12
  Kuala Lumpur         1670.27     1669.03          0.07
  Ho Chi Minh          682.25      676.9            0.79
  Change on year                                    
  Market               Current     End prev yr      Pct Move
  Singapore            2816.26     2882.73          -2.31
  Bangkok              1494.44     1288.02          16.03
  Manila               7404.8      6952.08          6.51
  Jakarta              5410.269    4593.008         17.79
  Kuala Lumpur         1670.27     1692.51          -1.31
  Ho Chi Minh          682.25      579.03           17.83
 (Reporting by Sandhya Sampath in Bengaluru; Editing by Amrutha
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