January 30, 2017 / 6:00 AM / a year ago

SE Asia Stocks-Flat on lacklustre trade; U.S. travel curbs hurt

By Sindhu Chandrasekaran
    Jan 30 (Reuters) - Southeast Asian stock markets edged up on
Monday as trading remained subdued with some markets shut for
Lunar new year, while concerns over U.S. President Donald
Trump's immigration curbs hurt the sentiment.
    Trump on Friday barred refugees for four months, with an
indefinite ban on refugees from Syria and a 90-day bar on
citizens from seven other nations. 
    "Last week Trump made good on promises towards immigration
and withdrawing from trade deals," said James Woods, global
investment analyst at Rivkin Securities in Sydney, in a note.
    "The concern for the market is, if he continues to
prioritise achieving these policies over his economic policies,
the market's patience will begin to wear thin the longer this
takes and that is the key threat to new all-time highs," Woods
    Philippines shares rose as much as 0.6 percent,
extending gains into a third session with financials leading the
way. Ayala Corp rose 2.1 percent, while Metropolitan
Bank and Trust Co gained 2.4 percent.
    Thailand shares recovered to trade marginally up.
Kasikornbank PCL climbed 0.5 percent.
    Indonesia shares also edged up. Chandra Asri
Petrochemical Tbk PT rose 0.7 percent.
    While the investors are still nervous about the U.S.
policies, there is a plethora of key data being released this
week including central bank decisions in Japan, the United
States and the UK.
    "All three central banks are expected to keep monetary
policy unchanged as they wait and see for progress towards
stimulatory policies in the U.S. and the potential flow on
effects," analyst Woods said.
    Vietnam, Malaysia and Singapore 
markets are closed on account of a public holiday.
For Asian Companies click;  

  Change on the                                        
  Market           Current       previous     Pct Move
  Bangkok          1591.55       1590.8       0.05
  Manila           7370.28       7333.67      0.50
  Jakarta          5314.612      5312.84      0.03
  Change so far                               
 this year                                    
  Market           Current       End 2016     Pct Move
  Bangkok          1591.55       1542.94      3.15
  Manila           7370.28       6840.64      7.7
  Jakarta          5314.612      5296.711     0.34
 (Reporting by Sindhu Chandrasekaran; Editing by Gopakumar
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