December 16, 2016 / 5:19 AM / 2 years ago

SE Asia Stocks-Largely weak as dollar scales 14-year peak

By Krishna V Kurup
    Dec 16 (Reuters) - Southeast Asian stocks saw cautious trade
on Friday as a stronger dollar and elevated U.S. bond yields in
anticipation of a faster pace of Fed rate hikes next year raised
the likelihood of fund flows from emerging markets.
    The Federal Reserve said on Wednesday that it saw three rate
hikes in 2017 instead of the two expected previously, in part
due to changes anticipated under incoming president Donald
    Global markets are on an "inflation rally" and risk in the
market is climbing, brokerage Baillieu Holst said in a note,
adding emerging markets "have run ahead of themselves, so a
short term shallow retracement is expected in the next four
    Emerging markets are now forced to raise rates to keep
capital and to face Fed's move, it said.
    Dollar posted 14-year highs, holding hefty gains against a
broader basket of currencies, while 10-year Treasury note
 yield rose above 2.6 percent on Thursday to its
highest level since September 2014. 
    Philippine shares fell 0.4 percent as major losses in
industrial and financial sector undermined gains in telecom
shares. Shares are on track to post a weekly loss of more than 2
    SM Investments Corp was down 2.2 percent, while
Ayala Corp posted a decline of 1.9 percent.
    Index heavyweight PLDT Inc rose 2.4 percent.    
    Singapore shares were marginally up, but on track to
post a weekly loss.
    Gains in financial and telecom shares outweighed losses in
consumer sector. 
    DBS Group Holdings rose 0.3 percent, while
Singapore Telecommunications Ltd was up half a
    Malaysia declined for a third session, with ringgit
, hitting its lowest since September 2015 against
    Shares are headed to post a slight weekly loss.
    Utilities and consumer stocks led the losses, with Kuala
Lumpur Kepong Bhd and Tenaga Nasional Bhd  
losing between 1 to 1.7 percent. 
    Vietnam rose 0.8 percent, with Saigon Beer Alcohol Beverage
Corp leading the gains, rising 5.4 percent. 
    For Asian Companies click;  

  Market          Current      Prev close  Pct Move
  Singapore       2934.62      2930.77     0.13
  Bangkok         1523.54      1519.65     0.26
  Manila          6826.32      6855.31     -0.42
  Jakarta         5241.794     5254.362    -0.24
  Kuala Lumpur    1633.47      1636.99     -0.22
  Ho Chi Minh     670.98       665.92      0.76
  Change on year                           
  Market          Current      End 2015    Pct Move
  Singapore       2934.62      2882.73     1.80
  Bangkok         1523.54      1288.02     18.29
  Manila          6826.32      6952.08     -1.81
  Jakarta         5241.794     4593.008    14.13
  Kuala Lumpur    1633.47      1692.51     -3.49
  Ho Chi Minh     670.98       579.03      15.88

 (Reporting by Krishna V Kurup in Bengaluru; Editing by Amrutha
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