SE Asia Stocks -Mixed; Manila shares fall on concerns over weak China demand

Wed Jul 9, 2014 3:19am EDT

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BANGKOK, July 9 (Reuters) - The Philippine stock index fell
to a near one-week low while other Southeast Asian markets
remained range-bound as lower June inflation in China raised
concerns over weak demand that could hurt growth in the world's
second largest economy.
    The Philippine index was down 0.9 percent at 0618
GMT, after touching its lowest since June 3, led by shares of
financial companies amid expectations of an interest rate hike.
    Although Philippine inflation slowed slightly in June,
growing price pressures have been adding to expectations the
central bank will raise interest rates for the first time in
three years, possibly as early as this month. 
    China's consumer inflation cooled slightly more than
expected in June, pointing to lingering weakness in the economy
which could prompt Beijing to launch further stimulus measures
to shore up growth. 
    The Singapore index was down 0.5 percent while
Malaysia traded 0.1 percent weaker.
    Bucking the trend, the Thai benchmark index was up
0.2 percent at the midday break, recovering from an early
decline tracking a fall in Wall Street shares and a broad
weakness in Asian stock markets. 
    Investors awaited quarterly results of Thai banks due next
week onwards, stockbrokers said.
    "The second-quarter earnings season is approaching for the
Thai stock market as evidenced by active earnings plays in the
banking space," broker Phillip Securities said in a report.
    Among gainers, Siam Commercial Bank edged up 0.5
percent and Bangkok Bank rose 0.75 percent.
    The Jakarta stock market was closed for a holiday due to
presidential elections, keenly monitored by investors.

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SOUTHEAST ASIAN STOCK MARKETS
 Change at 0642 GMT
 Market             Current     Prev Close    Pct Move
 TR SE Asia Index*   437.83        437.65       +0.04
 Singapore          3266.88       3283.34       -0.50
 Kuala Lumpur       1889.72       1892.65       -0.15
 Bangkok            1510.16       1507.58       +0.17
 Manila             6887.20       6999.10       -0.88
 Ho Chi Minh         592.17        590.69       +0.12
 * The Thomson Reuters South East Asia Index is a
highly representative indicator of stocks listed in Indonesia,
Malaysia, the Philippines, Singapore, Thailand and Vietnam.

 (Reporting by Shihar Aneez in Colombo and Kaweewit Kaewjinda in
Bangkok; Editing by Anupama Dwivedi)
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