December 22, 2016 / 10:09 AM / 2 years ago

SE Asia Stocks-Fall; Philippines hits more than 10-mth closing low

By Anusha Ravindranath
    Dec 22 (Reuters) - Southeast Asian stock markets closed
lower on Thursday, mirroring Asian peers, as investors turned
cautious ahead of the release of U.S. economic data later in the
    Investors are waiting for a range of economic indicators,
including the third revision of U.S. third-quarter gross
domestic product, to gauge the strength of the world's largest
economy. Durable goods orders for November and weekly initial
jobless claims are also scheduled to be released. 
    MSCI's broadest index of Asia-Pacific shares outside Japan
 erased modest early gains to slip 0.7 percent as
of 0935 GMT. 
    Philippines closed 1.5 percent lower, hitting its
lowest closing level since Feb. 3, dragged down by industrial
and consumer stocks.
    Shares of DMCI Holdings Inc closed 2.7 percent
lower, while JG Summit Holdings Inc dropped 4.7
    The Philippine central bank held benchmark rates steady, as
widely expected, after market hours, saying inflation was
expected to remain within its 2017 and 2018 comfort range of 2-4
    Jakarta hit a near 6-month closing low, falling for
an eighth straight session, weighed down by consumer staples and
    Cigarette maker Hanjaya Mandala Sampoerna Tbk PT 
lost 2.9 percent, while Indofood Sukses Makmur Tbk PT 
shed 1.7 percent.
    "Simply, U.S. policy uncertainties, lack of positive
sentiment from the domestic front, and continued foreign
selling" are weighing on the markets, said Taye Shim of Daewoo
Securities in Indonesia. 
    "I think they (traders) are less confident of the emerging
market economies, including Indonesia." 
    Singapore shares closed at their lowest in more than
three weeks, as financials and industrials lost ground. 
    Oil and gas stocks also took a hit after global oil prices
fell on the back of an unexpected rise in U.S. crude inventories
last week. 
    Rig builder Keppel Corporation Ltd was down 1.19
percent, while DBS Group fell 1.3 percent. 
    Malaysia and Thailand both hit 3-week
closing lows, while Vietnam fell 0.4 percent.    

For Asian Companies click;  

 Change on day                                         
  Market           Current       previous     Pct Move
  Singapore        2882.04       2901.7       -0.68
  Bangkok          1504.12       1508.57      -0.29
  Manila           6587.17       6686.36      -1.48
  Jakarta          5042.87       5111.392     -1.34
  Kuala Lumpur     1623.2        1629.59      -0.39
  Ho Chi Minh      664.15        666.94       -0.42
 Change so far                                
  Market           Current       End prev yr  Pct Move
  Singapore        2882.04       2882.73      -0.02
  Bangkok          1504.12       1288.02      16.78
  Manila           6587.17       6952.08      -5.25
  Jakarta          5042.87       4593.008     9.79
  Kuala Lumpur     1623.2        1692.51      -4.10
  Ho Chi Minh      664.15        579.03       14.70

 (Reporting by Anusha Ravindranath and Christina Martin in
Bengaluru; Additional reporting by Fransiska Nangoy in Jakarta;
Editing by Biju Dwarakanath)
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