July 31, 2017 / 5:06 AM / a year ago

SE Asia Stocks-Subdued ahead of slew of economic data

    By Chris Thomas
    July 31 (Reuters) - Most Southeast Asian stock markets were
subdued on Monday as investors were cautious ahead of a raft of
economic data, while yet another missile test by North Korea
caused brief jitters.
    Indonesia is expected to release this week July inflation
and GDP numbers, Thailand and Philippines inflation rates for
this month, and Malaysia its trade data for June.
    "It's going to be a boring market this week," said Taye
Shim, head of research at Jakarta-based Mirae Asset Sekuritas.
    Ahead of major economic data, investors are likely to take a
conservative approach in terms of making investment decisions,
he said.
    North Korea conducted another missile test late on Friday
that it said proved its ability to strike the U.S. mainland. The
United States responded by flying two bombers over the Korean
peninsula on Sunday.
    In Southeast Asia, Philippine shares fell as much as
0.9 percent in their biggest intraday drop in nearly five weeks,
and were headed for their first fall in five sessions.
    Real estate and financial stocks led the decline. Ayala Land
 dropped as much as 2 percent to its lowest in a week,
heading for a third straight session of falls, while Bank of the
Philippine Islands declined up to 3.1 percent in its
sharpest intraday drop since December 2016.
    Singapore shares slipped 0.3 percent, led by declines
in heavyweights such as DBS Group and Singapore
    Indonesian shares rose marginally, with gains in
Bank Rakyat Indonesia and Unilever Indonesia
outweighing losses in Bank Central Asia and cigarette
manufacturer Gudang Garam Tbk.    
    Indonesia's annual inflation rate likely eased in July as
demand returned to normal after the Eid al-Fitr festival, a
Reuters poll showed on Friday. The data is expected on Aug.
    Thai shares fell as much as 0.5 percent to their
lowest in nearly two weeks, with Airports of Thailand
and Advanced Info Service Pcl declining 2 percent
and 1.6 percent, respectively.
    Data released earlier showed the country's industrial output
unexpectedly dropped in June, after a rise in the previous
month, due to lower production of air conditioners and steel,
suggesting economic recovery remains fragile.   
For Asian Companies click;  
  Change on day                                        
  Market          Current      Previous Close  Pct Move
  Singapore       3320.19      3330.75         -0.32
  Bangkok         1578.18      1581.06         -0.18
  Manila          8008.34      8071.47         -0.78
  Jakarta         5837.463     5831.027        0.11
  Kuala Lumpur    1766.45      1767.08         -0.04
  Ho Chi Minh     779.14       777.09          0.26
  Change on year                               
  Market          Current      End 2016        Pct Move
  Singapore       3320.19      2880.76         15.25
  Bangkok         1578.18      1542.94         2.28
  Manila          8008.34      6840.64         17.07
  Jakarta         5837.463     5296.711        10.21
  Kuala Lumpur    1766.45      1641.73         7.60
  Ho Chi Minh     779.14       664.87          17.19
 (Reporting by Chris Jacob Thomas in Bengaluru; Editing by
Subhranshu Sahu)
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