January 30, 2019 / 10:36 AM / 22 days ago

SE Asia Stocks-Philippines falls most in 2 weeks

    * Investors await U.S. Fed decision, Sino-U.S. trade talks
    * Malaysia down 0.4 pct, exports to China contract

    By Mensholong Lepcha
    Jan 30 (Reuters) - Most Southeast Asian stock markets fell
on Wednesday, with Philippine shares recording their worst fall
in two weeks, as investors awaited a U.S. Federal Reserve rates
review and key Sino-U.S. trade talks.
    The Fed is widely expected to leave rates unchanged on
Wednesday, as policymakers had made it clear that they plan a
"patient" pause in rate hikes.
    The central bank is taking a wait-and-see approach to
further tightening in the face of a global economic slowdown,
U.S. federal government shutdown, trade tensions and waning
business and consumer confidence.
    Adding to investor caution is the start of a crucial round
of Sino-U.S. trade talks on Wednesday and Thursday.
    Philippine shares fell as much as 1.7 percent on
profit-taking before recovering partially to close 0.9 percent
lower.
    "We are seeing sales of shares of companies with large
institutional following, investors are now being cautious about
what will happen in the U.S. Fed meeting," said Rachelle Cruz, a
research analyst at AP Securities in Manila.
    Cruz said a lot of funds from the profit-taking were
invested in "third-liner stocks", with Premiere Entertainment
 emerging as one of the most actively traded stocks
after a funding deal worth 15 billion pesos ($286.67 million)
with a Qatar-based investment management firm.
    Index heavyweights BDO Unibank Inc and SM Prime
Holdings lost 2.4 percent and 1.5 percent,
respectively, while Premiere Entertainment closed at its highest
level since November 1997.
    Malaysian shares fell 0.4 percent, dragged by
utility and basic material stocks.
    Effects of the Sino-U.S. trade war were seen with data
showing Malaysia's exports to China, a major trading partner,
contracted 0.5 percent annually in December, while shipments to
the United States surged 13.5 percent.
    Singapore shares closed 0.4 percent lower, with DBS
Group Holdings and Singapore Press Holdings
falling 1.2 percent and 2.4 percent, respectively.    
    Meanwhile, Thai shares gained 0.5 percent, with PTT
Exploration and Production emerging as the top boost
to the index after the company posted an 88.6 percent rise in
full-year profit.
    PTT Exploration and Production rose 2.1 percent, while
Airports of Thailand gained 1.5 percent.
($1 = 52.3250 Philippine pesos)
    
For Asian Companies click;  

SOUTHEAST ASIAN STOCK MARKETS
 Change on the day                                
 Market                 Current   Previous close  Pct Move
 Singapore              3174.38   3187.69         -0.42
 Bangkok                1632.6    1624.05         0.53
 Manila                 7979.95   8050.82         -0.88
 Jakarta                6464.189  6436.48         0.43
 Kuala Lumpur           1684.11   1690.41         -0.37
 Ho Chi Minh            915.84    915.93          -0.01
                                                  
 Change so far in 2019                            
 Market                 Current   End 2018        Pct Move
 Singapore              3174.38   3068.76         3.44
 Bangkok                1632.6    1563.88         4.39
 Manila                 7979.95   7,466.02        6.88
 Jakarta                6464.189  6,194.50        4.35
 Kuala Lumpur           1684.11   1690.58         -0.38
 Ho Chi Minh            915.84    892.54          2.61
 
 (Reporting by Mensholong Lepcha; Editing by Subhranshu Sahu)
  
Nuestros Estándares:Los principios Thomson Reuters
0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below