January 16, 2017 / 5:15 AM / 2 years ago

SE Asia Stocks-Largely down on Brexit concerns; Philippines up after recent falls

By Sandhya Sampath
    Jan 16 (Reuters) - Most Southeast Asian stock markets fell
on Monday after reports that Britain is prepared to make a
"hard" exit from the European Union rekindled fears about the
impact of the impending move.
    Prime Minister Theresa May will call on Britons to reject
the acrimony of the Brexit referendum in a speech on Tuesday
that some newspapers have billed as setting the stage for a
"hard Brexit". 
    Investors will scrutinise May's speech for clues on whether
she plans to prioritise immigration controls and bilateral trade
deals in a "hard Brexit".
    Sentiment was also hit as U.S. policy uncertainty lingered
ahead of President-elect Donald Trump's inauguration this week.
    Singapore shares fell as much as 0.8 percent, dragged
down by consumer services and telecom stocks. Singapore Press
Holdings Ltd declined 3.3 percent, while StarHub Ltd
 fell 1 percent.
    Philippine shares were up after three straight
sessions of falls, led by consumer stocks. Conglomerate JG
Summit Holdings Inc and SM Investments Corp 
gained 1.5 percent and 0.8 percent, respectively.
    The market declined in the last three sessions due to
profit-taking, "so it has regained some strength today", said
Manny Cruz, an analyst with Manila-based Asiasec Equities Inc. 
    "I think it's the same way with the Indonesian market."
    Indonesian shares were marginally up after five
consecutive sessions of declines on the back of gains in telecom
services and consumer staples.
    Taye Shim, research head at KDB Daewoo Indonesia, ruled out
any positive catalyst or news from local markets for the rebound
in the Philippine and Indonesian markets, saying: "It's simply a
technical rebound." 
    Indonesia's exports and imports rose on an annual basis for
a third straight month in December, but at a slower pace than in
November, the statistics bureau said on Monday. 
For Asian Companies click;  

  Market             Current    previous close   Pct Move
  Singapore          3005.84    3025.07          -0.64
  Bangkok            1572.32    1575.24          -0.19
  Manila             7268.96    7238.52          0.42
  Jakarta            5279.789   5272.983         0.13
  Kuala Lumpur       1667.17    1672.5           -0.32
  Ho Chi Minh        679.12     685.06           -0.87
  Change this year                               
  Market             Current    End 2016         Pct Move
  Singapore          3005.84    2880.76          4.34
  Bangkok            1572.32    1542.94          1.90
  Manila             7268.96    6840.64          6.30
  Jakarta            5279.789   5296.711         -0.32
  Kuala Lumpur       1667.17    1641.73          1.55
  Ho Chi Minh        679.12     664.87           2.10
 (Reporting by Sandhya Sampath; Editing by Subhranshu Sahu)
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