January 23, 2019 / 4:19 AM / 6 months ago

SE Asia Stocks-Philippines falls ahead of GDP data, Thailand gains

    * Malaysia on track to snap three sessions of gains
    * Singapore flat ahead of inflation data expected later in
the day
    * Philippines Q4 GDP data to be released on Thursday

    By Shreya Mariam Job
    Jan 23 (Reuters) - Philippines took the biggest hit among
Southeast Asian stock indexes on Wednesday, falling more than 1
percent in a jittery market ahead of its GDP data release, while
Thailand extended gains. 
    While global growth concerns continued to dampen investor
sentiment in the region, a slew of expected economic data
governed the movement of individual markets. 
    Industrial and financial stocks dragged the Philippine
benchmark index 1.2 percent lower with shares of SM
Investments Corp  losing 1.6 percent and those of
Aboitiz Equity Ventures Inc shedding 2.6 percent, ahead
of the fourth-quarter GDP data expected on Thursday. 
    A Reuters poll expects the easing inflation to have lifted
the Philippine economy's growth pace by 6.2 percent from a year
earlier, marginally up from a three year low recorded in
    However, uncertainty arising from global growth concerns
stirring global markets over the past few days spurs doubts on
the outcome of the data.
    "The correction (in the index) is maybe because the
investors are being more careful since we're seeing a lot of
news especially about China and...a slowdown in terms of global
economic growth. A lot of investors are waiting for the
Philippine GDP data and they are afraid of what 2019 will look
like," said Rachelle C Cruz, an analyst at AP Securities.
    The Malaysian index, on track to snap three sessions
of gains, fell 1 percent, hurt by consumer cyclicals and
material stocks ahead of its inflation data and key rate
announcement at the central bank policy meeting.    
    The country's consumer price index (CPI), slated to be
released on Thursday, is expected to rise 0.4 percent in
December from a year earlier, according to a Reuters poll.

    Meanwhile, another poll predicted that Malaysia's central
bank will likely keep its benchmark overnight interest rate
 unchanged at 3.25 percent at a policy review on
    Singapore's index traded nearly flat as investors
remained on the sidelines ahead of the inflation data expected
later in the day. 
    The city-state's headline consumer price index (CPI)
probably rose to 0.4 percent in December from a year earlier, a
Reuters poll showed.
    Meanwhile, the Thai index extended gains and rose
0.8 percent, buoyed by healthcare and financial stocks. 
    Shares of Bangkok Dusit Medical Services PCL
extended gains rising 2.6 percent as investors remained
optimistic regarding regulatory movements against the company
not being as bad as they had initially thought.

For Asian Companies click;  

 Change on the day                                
 Market                 Current   Previous close  Pct Move
 Singapore              3186.19   3192.71         -0.20
 Bangkok                1613.71   1601.77         0.75
 Manila                 7913.45   8008.67         -1.19
 Jakarta                6480.744  6468.562        0.19
 Kuala Lumpur           1685.87   1702.12         -0.95
 Ho Chi Minh            906.47    906.55          -0.01
 Change so far in 2019                            
 Market                 Current   End 2018        Pct Move
 Singapore              3186.19   3068.76         3.83
 Bangkok                1613.71   1563.88         3.19
 Manila                 7913.45   7,466.02        5.99
 Jakarta                6480.744  6,194.50        4.62
 Kuala Lumpur           1685.87   1690.58         -0.28
 Ho Chi Minh            906.47    892.54          1.56

 (Reporting by Shreya Mariam Job in Bengaluru; Editing by Rashmi
Nuestros Estándares:Los principios Thomson Reuters
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