January 27, 2017 / 10:19 AM / a year ago

SE Asia Stocks-Soft in holiday-thinned trade

Jan 27 (Reuters) - Most Southeast Asian stock markets were
sluggish in lacklustre trade on Friday ahead of the Chinese new
year holidays, as investors failed to capitalise on a global
equity markets rally overnight.
    A key index of global equity markets hit a
near 2-year high on Thursday, not far off from a record high it
touched in April 2015. 
    Overnight on Wall Street, all three major indexes hit
life-time intraday highs, with the Dow Jones Industrial Average
 also closing at a record high after breaching 20,000 on
    In Indonesia, the Jakarta SE Composite Index fell,
led lower by consumer staples and telecom stocks.
    The index posted a weekly gain of 1.1 percent. 
    Telecommunications provider PT XL Axiata slipped
1.4 percent, while agribusiness company PT Wahana Pronatural Tbk
 fell 6.4 percent.
    "Indonesia will be quiet as uncertainties are still
lingering," said Dang Maulida, an analyst with Jakarta-based
Daewoo Securities.
    "It remains to be seen if they are going to tighten the
monetary policy. The inflation rate due next week will determine
the colour of the market during the first quarter."
    Thai shares snapped five sessions of gains to end
lower, dragged down by industrials and financial stocks.
    It however gained 1.8 percent on the week. 
    Thailand plans to boost public spending, which is expected
to lift economic growth by 0.4-0.5 percentage points this year,
according to the country's finance minister. 
    National carrier Thai Airways International Pcl 
fell 2.2 percent to its lowest in more than one month.
    Philippines was flat, with gains in telecom stocks
offset by losses in real estate shares.
    Refiner Petron Corp fell 2.7 percent, its lowest
close in nearly two months.  
    Singapore ended 0.4 percent higher, while Malaysia
 fell 0.4 percent, in truncated trading in both markets
ahead of the Lunar new year holiday. 
    Vietnam's financial markets are closed from Jan. 26
to Feb. 1 for a national holiday. 
    MSCI's broadest index of Asia-Pacific shares outside Japan
 slipped 0.1 percent, with several markets closed
for the Lunar New Year holiday. 
For Asian Companies click;  

 Change on day
  Market           Current       Previous     Pct Move
  Singapore        3064.85       3051.78      0.43
  Bangkok          1590.8        1591         -0.01
  Manila           7333.67       7332.64      0.01
  Jakarta          5312.84       5317.633     -0.09
  Kuala Lumpur     1686.36       1692.22      -0.35
  Change so far                               
  Market           Current       End 2016     Pct Move
  Singapore        3064.85       2880.76      6.39
  Bangkok          1590.8        1542.94      3.10
  Manila           7333.67       6840.64      7.20
  Jakarta          5312.84       5296.711     0.30
  Kuala Lumpur     1686.36       1641.73      2.72
 (Reporting by Hanna Paul; Editing by Biju Dwarakanath)
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