January 31, 2017 / 10:34 AM / a year ago

SE Asia Stocks-Fall over Trump policy concerns; Philippines down 1.5 pct

By Sindhu Chandrasekaran
    Jan 31 (Reuters) - Philippine shares led Southeast Asian
stock markets lower on Tuesday as the market sentiment was hurt
by U.S. President Donald Trump's immigration and trade policies.
    Trump signed an executive order on Friday to bar Syrian
refugees indefinitely and suspend travel to the United States
from seven Muslim-majority countries, raising concerns about a
more restrictive immigration policy.
    "Trump's policy changes are causing some uncertainties, as
to what direction it could be going forward. Most investors
don't really know the impact of his policies yet," said Charles
Ang, analyst with COL Financial.
    Philippine shares ended 1.5 percent lower amid
worries over Trump's impact on the country's growing outsourcing
industry, which provides back-office services for U.S.
    "The BPO sector, which is one of the primary component of
the Philippine economy, is expected to be hurt by Trump's
policies," said Manny Cruz, chief strategist at brokerage house
AsiaSec Equities. 
    Philippine financial and real estate stocks were among the
biggest drag on the index, with GT Capital Holdings 
losing 3.4 percent.       
    Singapore cut early losses to finish the session 0.6
percent lower.
    Financials accounted for nearly half the loss on the index,
shrugging off the central bank data, which showed that
Singapore's total bank lending in December rose 1.1 percent from
    The index had risen 8.1 percent as of Friday's close since
Donald Trump was elected U.S. president in early November.      
    Thailand closed 0.8 percent lower, posting a third
session of loss, with energy stocks leading the way.
    However, the market ignored central bank data showing that
Thailand's private consumption and investment increased in
December from the previous month, suggesting a fragile economic
recovery is gaining some momentum. 
    Malaysia closed 0.9 percent lower. Industrials were
the biggest drag on the index with Sime Darby Bhd 
falling 3.5 percent.
    Indonesia declined marginally posting a third session of
loss in the last four sessions of trading. 
    Vietnam was closed on a public holiday.
For Asian Companies click;  

  Change on the                                        
  Market           Current       previous     Pct Move
  Singapore        3046.8        3064.85      -0.59
  Bangkok          1577.31       1590.56      -0.83
  Manila           7229.66       7336.71      -1.46
  Jakarta          5294.103      5302.662     -0.16
  Kuala Lumpur     1671.54       1686.36      -0.88
  Change so far                               
 this year                                    
  Market           Current       End 2016     Pct Move
  Singapore        3046.8        2880.76      5.76
  Bangkok          1577.31       1542.94      2.23
  Manila           7229.66       6840.64      5.7
  Jakarta          5294.103      5296.711     -0.05
  Kuala Lumpur     1671.54       1641.73      1.82

 (Reporting by Sindhu Chandrasekaran; Editing by Amrutha
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