January 22, 2019 / 4:37 AM / 6 months ago

SE Asia Stocks-Most slip on global growth concerns, Singapore leads fall

    * Indonesia set to snap five sessions of gains
    * Thailand on track to post fifth straight session of gains

    By Shreya Mariam Job
    Jan 22 (Reuters) - Most Southeast Asian stock markets edged
lower on Tuesday, with Singapore leading the fall, as investors
remained cautious after the International Monetary Fund (IMF)
cut global growth forecasts on the eve of the World Economic
Forum in Davos. 
    In its World Economic Outlook report released on Monday, the
IMF predicted the global economy will grow at 3.5 percent in
2019 and 3.6 percent in 2020, down 0.2 and 0.1 percentage point,
respectively, from last October's forecasts.
    Adding to existing concerns of a slowdown, the IMF forecast
cast a shadow on investor sentiment sending broader Asian stocks
lower. MSCI's broadest index of Asia-Pacific shares outside
Japan fell 0.5 percent, drifting away from a
recent seven-week high.
    Singapore's index dropped 0.4 percent, posting the
biggest fall in the region, hurt by financial and technology
stocks. DBS Group Holdings Ltd's counter fell 1
percent and that of Oversea-Chinese Banking Corporation Ltd
 declined 0.8 percent.  
    "The Singapore market has already enjoyed an almost 5
percent rise in 3 weeks. Some side-way movement is expected,
especially with U.S. equity futures pointing to some downside
when it reopens," said Paul Chew, head of research at Phillip
Securities. 
    The U.S. stock futures were down in
the range of 0.7-0.9 percent. The U.S. stocks are set to snap
four sessions of gains. 
    The Indonesian benchmark - on track to snap a
five-session rally - dropped 0.3 percent with telecom and
financial stocks driving the index lower. 
    Shares of Telekomunikasi Indonesia (Persero) Tbk Perusahaan
Perseroan dipped 1.7 percent, while those of Astra
International Tbk PT shed 1.5 percent. 
    The Philippine stock market fell marginally, hurt by
real estate and financial stocks.
    Shares of SM Prime Holdings Inc dipped 1.4
percent, while those of Ayala Land Inc shed 1.2
percent.    
    However, the Thai benchmark bucked the region's
falling trend and rose 0.3 percent, driven by gains in
healthcare and energy stocks. 
    Shares of Bangkok Dusit Medical Services PCL and
PTT PCL rose 2.3 percent and 0.5 percent, respectively.
    
    
For Asian Companies click;  

SOUTHEAST ASIAN STOCK MARKETS As at 0423 GMT
    
 Change on the day                                
 Market                 Current   Previous close  Pct Move
 Singapore              3209.2    3220.56         -0.35
 Bangkok                1592.29   1588.38         0.25
 Manila                 7994.53   8007.46         -0.16
 Jakarta                6429.072  6450.834        -0.34
 Kuala Lumpur           1690.66   1692.22         -0.09
 Ho Chi Minh            911.53    911.05          0.05
                                                  
 Change so far in 2019                            
 Market                 Current   End 2018        Pct Move
 Singapore              3209.2    3068.76         4.58
 Bangkok                1592.29   1563.88         1.82
 Manila                 7994.53   7,466.02        7.08
 Jakarta                6429.072  6,194.50        3.79
 Kuala Lumpur           1690.66   1690.58         0.00
 Ho Chi Minh            911.53    892.54          2.13
 
 (Reporting by Shreya Mariam Job in Bengaluru; Editing by xxxx)
  
Nuestros Estándares:Los principios Thomson Reuters
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