June 8, 2018 / 10:21 AM / 10 months ago

SE Asia Stocks-Subdued as investors eye G7 summit, Fed move

    * Malaysia notches up biggest weekly gain in 7 weeks
    * Vietnam closes higher for 7th straight session
    * Investors keep an eye out for G7, Fed moves

    By Mensholong Lepcha
    June 8 (Reuters) - Southeast Asian stock markets lost ground
on Friday with investors taking a cautious approach ahead of the
Group of Seven (G7) summit this weekend and on expectations of
another U.S. interest rate hike.
    Global risk appetite took a hit after U.S. jobless claims
pointed to a further tightening in the labour market, cementing
expectations the Fed will raise benchmark rates next week and
twice again later in the year.
    The widening rift between the United States and its major
trade partners after President Donald Trump imposed import
tariffs on steel and aluminium imports last week spurred
concerns ahead of the two-day G7 meet in Quebec.
    MSCI's broadest index of Asia-Pacific shares outside Japan
 fell 1.5 percent, though the index finished the
week on a high for the first time in three weeks.
    "It's probably a technical weakness since there was no big
data (in southeast Asia) this week," said Joel Ng, an analyst at
KGI securities.
    The Indonesian index was the worst performer in the
region, ending 1.9 percent lower, led by financial stocks.
    Bank Central Asia, Indonesia's largest company by
market capitalization, fell 3.2 percent.
    However, the Jakarta index gained 0.2 percent for the week,
extending gains to a third straight week.
    Singapore shares fell 1.1 percent on Friday, but
ended a third spell of weekly losses. Lenders OCBC and
United Overseas Bank lost 2 percent each.
    Philippine shares closed 0.8 percent lower, but ended
the week up 1.5 percent. 
    Financial, real estate and industrial stocks pushed the
index lower. Real estate firm Ayala Land fell 2.4
percent, while SM Investments dropped 1.5 percent.
    Malaysian shares ended lower, but clocked their
biggest weekly gain in seven, climbing 1.3 percent.
    Thai shares fell 0.6 percent, dragged by energy
stocks, with PTT Pcl and PTT Exploration and Production
 losing over 2 percent each.
    Vietnam was the sole gainer, reversing early losses
to end higher for a seventh session, led by banks. It rose 4.7
percent during the week, its biggest such gain since
For Asian Companies click;  

  Change on the day                                      
  Market             Current       Previous     Pct Move
  Singapore          3436.37       3473.08      -1.06
  Bangkok            1722.04       1733.05      -0.64
  Manila             7740.74       7803.31      -0.80
  Jakarta            5993.627      6106.698     -1.85
  Kuala Lumpur       1778.32       1785.81      -0.42
  Ho Chi Minh        1039.01       1036.69      0.22
  Change on year                                
  Market             Current       End 2017     Pct Move
  Singapore          3436.37       3402.92      0.98
  Bangkok            1722.04       1753.71      -1.81
  Manila             7740.74       8558.42      -9.55
  Jakarta            5993.627      6355.654     -5.70
  Kuala Lumpur       1778.32       1796.81      -1.03
  Ho Chi Minh        1039.01       984.24       5.56
 (Reporting by Mensholong Lepcha; Editing by Sunil Nair)
Nuestros Estándares:Los principios Thomson Reuters
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