January 19, 2017 / 10:04 AM / 2 years ago

SE Asia Stocks-Muted on Yellen's rate hike signal; Philippines up

Jan 19 (Reuters) - Southeast Asian stocks were subdued on
Thursday as comments from Federal Reserve Chair Janet Yellen
hinted at steady interest rate hikes in 2017 and U.S.
President-elect Donald Trump's inauguration on Friday kept
investors anxious.
    Yellen said on Wednesday that it "makes sense" for the U.S.
central bank to gradually lift interest rates and that "waiting
too long to begin moving toward the neutral rate could risk a
nasty surprise down the road." 
    Yellen's bullish comments overnight strengthened the dollar,
and "the gains at their end spilled over into Asian markets",
said Victor Felix, an analyst with AB Capital Securities in
Manila, adding that investors are now watching out for Trump's
    Philippine shares closed 1.25 percent higher, posting their
biggest percentage gain in more than a week.
    Real estate and industrial stocks led the index with Ayala
Land Inc and Universal Robina Corp rising 3
percent and 3.8 percent, respectively.
    The market expects a "good" GDP report for 2016 and
better-than-expected corporate earnings, said Mikey Macanaig,
analyst with Sun Securities Inc, adding a weaker peso and the
dollar index reaching the 100-point mark are driving the market
    Thailand shares ended 0.4 percent lower, hit by
losses in consumer staples and financials.
    Top convenience store chain CP All PCL shed 1.7
percent, while Kasikornbank PCL fell nearly 2
    Stock markets in Vietnam, Singapore, Malaysia
 and Indonesia remained muted, while MSCI's
broadest index of Asia-Pacific shares outside Japan
 was flat at 0940 GMT.

    For Asian Companies click;  

  Change on day                                        
  Market           Current       Prev close   Pct Move
  Singapore        3008.22       3000.22      0.27
  Bangkok          1554.88       1560.83      -0.38
  Manila           7246.08       7156.36      1.25
  Jakarta          5298.948      5294.784     0.08
  Kuala Lumpur     1666.51       1665.02      0.09
  Ho Chi Minh      682.31        683.28       -0.14
  Change on year                              
  Market           Current       End 2016     Pct Move
  Singapore        3008.22       2880.76      4.42
  Bangkok          1554.88       1542.94      0.77
  Manila           7246.08       6952.08      4.23
  Jakarta          5298.948      5296.711     0.04
  Kuala Lumpur     1666.51       1641.73      1.51
  Ho Chi Minh      682.31        672.01       1.53

 (Reporting by Krishna V Kurup in Bengaluru, Additional
reporting by Sandhya Sampath; Editing by Vyas Mohan)
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