June 26, 2019 / 4:09 AM / 3 months ago

SE Asia Stocks-Most markets slip as Fed curbs dovish enthusiasm

    * Thai central bank policy decision awaited
    * Indonesia up for 2nd day, Philippines top loser

    By Shreya Mariam Job
    June 26 (Reuters) - Most Southeast Asian stock markets
slipped on Wednesday as comments from U.S. Federal Reserve
officials curbed rate-cut enthusiasm.
    Fed officials on Tuesday pushed back on market expectations
and presidential pressure for the central bank to deliver a
significant rate cut of half a percentage point as soon as its
next meeting.
    Fed Chair Jerome Powell said the central bank was "insulated
from short-term political pressures" and that Fed policymakers
were wrestling with whether uncertainties around U.S. tariffs,
Washington's conflict with trading partners and tame inflation
require a rate cut.    
    "This suggests a more measured and calibrated easing
response from the Fed, pushing back on markets' aggressive
pricing of Fed rate cuts," Mizuho Bank said in a note. 
    Philippine stocks shed 0.4% with industrials
accounting for most of the losses. 
    SM Investments Corp dipped and Universal Robina Corp
 fell 1.3% each. 
    Singapore stocks slipped marginally ahead of
manufacturing output data for May.     
    Manufacturing output last month was expected to have
declined 2.2% from a year earlier, according to a Reuters poll.
It rose 0.1% in April. 
    The export-reliant economy has been hit by a prolonged trade
war between the United States and China, and the data would shed
light on whether the city state is out of the woods.  
    Malaysian stocks traded in a tight range. Loss was
broad-based with Tenaga Nasional Bhd and Sime Darby
Plantation Bhd declining 0.7% and 0.6%, respectively.
    Malaysia's consumer price index in May rose 0.2% from a year
earlier, missing the 0.3% increase forecast by a Reuters poll.
     
    Thai stocks edged lower ahead of a central bank 
policy decision.
    The Bank of Thailand is expected to keep its benchmark
policy rate steady for a fourth straight meeting, a Reuters poll
showed. 
    Meanwhile, Indonesian shares rose for a second
straight session, supported by modest gains in telecom and
financial stocks. 
    Telekomunikasi Indonesia and Bank Central Asia
 gained 0.8% and 0.3%, respectively.   
   
For Asian Companies click;  

SOUTHEAST ASIAN STOCK MARKETS As At 0357 GMT
    
 Change on the day                               
 Market                 Current  Previous close  Pct Move
 Singapore              3298.32  3304.27         -0.18
 Bangkok                1719.99  1721.33         -0.08
 Manila                 8000.07  8034.09         -0.42
 Jakarta                6325     6320.445        0.07
 Kuala Lumpur           1674.18  1676.61         -0.14
 Ho Chi Minh            959.39   960.13          -0.08
                                                 
 Change so far in 2019                           
 Market                 Current  End 2018        Pct Move
 Singapore              3298.32  3068.76         7.48
 Bangkok                1719.99  1563.88         9.98
 Manila                 8000.07  7,466.02        7.15
 Jakarta                6325     6,194.50        2.11
 Kuala Lumpur           1674.18  1690.58         -0.97
 Ho Chi Minh            959.39   892.54          7.49
 
 (Reporting by Shreya Mariam Job in Bengaluru; Editing by
Subhranshu Sahu)
  
Nuestros Estándares:Los principios Thomson Reuters
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