November 21, 2016 / 5:06 AM / 2 years ago

SE Asia Stocks-Largely down on fund outflow fears

By Susan Mathew
    Nov 21 (Reuters) - Most Southeast Asian stock markets were
down on Monday, led by the Philippines, amid fears that a rally
in the dollar and U.S. bond yields since President-elect Donald
Trump's victory could accelerate fund outflows from emerging
    "The dollar continues to move higher today and that has
triggered some selling in the Asian markets," said Manny Cruz,
an analyst with Manila-based Asiasec Equities Inc.
    The U.S. dollar nudged up to a six-month high in Asian
trading on Monday. 
    Trump's unexpected election victory has led to a major
repricing of assets, with investors rushing to buy U.S. stocks
and the dollar, while dumping bonds and emerging market assets. 
    Philippine shares slid as much as 0.86 percent, to
their lowest in a week as investors took profit after three
straight sessions of gains.
    "It is more of profit-taking as there is a lot of selling
pressure from foreign investors," said Cruz.
    The decline was led by consumer non-cyclicals and financial
sectors, with conglomerate JG Summit Holdings shedding
nearly 3 percent and realtor SM Prime Holdings losing
as much as 2.01 percent.
    Thai stocks posted their second straight session of
gains as healthcare and consumer stocks pulled up the index.
    Although the Thai Q3 GDP data, which was out earlier in the
day, showed that the economy grew at a slightly
slower-than-expected pace, the National Economic and Social
Development Board said it is likely to grow 3.2 percent this
year compared with 2.8 percent last year. 
    Indonesian shares posted their second straight
session of declines, dragged down by consumer and financial
    Bank Rakyat Indonesia (Persero) Tbk PT slipped as
much as 1.09 percent, while Astra International Tbk PT 
lost as much as 1.6 percent.
    "We expect choppy market trends to continue this week as
markets look for further hints of President-elect Trump's
reflation tactics," Taye Shim, an analyst from Daewoo Securities
stated in a note.
For Asian Companies click;  

  Market            Current       Previous Close   Pct Move
  Singapore         2829.44       2838.65          -0.32
  Bangkok           1478.48       1473.86          0.31
  Manila            7011.59       7067.73          -0.79
  Jakarta           5149.347      5170.109         -0.40
  Kuala Lumpur      1626.28       1623.8           0.15
 Ho Chi Minh        673.03        673.25           -0.03
  Change on year                                   
  Market            Current       End 2015         Pct Move
  Singapore         2829.44       2882.73          -1.85
  Bangkok           1478.48       1288.02          14.79
  Manila            7011.59       6952.08          0.86
  Jakarta           5149.347      4593.008         12.11
  Kuala Lumpur      1626.28       1692.51          -3.91
 Ho Chi Minh        673.03        579.03           16.23
 (Reporting by Susan Mathew in Bengaluru; Editing by Sherry
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