By Sindhu Chandrasekaran
Dec 2 Southeast Asian stock markets were flat to
lower on Friday following lacklustre U.S. and European markets
and ahead of the release of the U.S. payrolls data later in the
day and the constitutional referendum in Italy on Sunday.
Investors are waiting for the payrolls report for
confirmation the economy continues to strengthen, with an eye on
an expected hike in benchmark interest rates by the Federal
Reserve at its meeting on Dec. 13-14.
"What happened in the United States was not unanticipated as
the U.S. market had been on the rise for the past several weeks.
So, this fall was not enough to upset the momentum of oil and
gas-dependent economies like Malaysia and Indonesia," said Syed
Kifni, a research analyst at MIDF Amanah Investment Bank Bhd.
A sharp decline in technology stocks pulled both the Nasdaq
and the S&P 500 indexes into the red on Thursday.
Oil prices slipped on Friday as some investors opted to cash
out after Brent touched a 16-month high on Thursday, with
optimism over this week's OPEC-Russia accord on cutting output
giving way to questions on the "sticking point" of implementing
Singapore shares fell 0.2 percent, heading for their
first drop in nine sessions, with consumer staples leading the
decline. Singapore Telecommunications Ltd dropped 1.1
percent. The FTSE Straits Times Index was on track for its
highest weekly gain since the week ended on Sept. 9.
Vietnam shares were down 0.5 percent after two
consecutive sessions of gains, dragged down by industrials with
Faros Construction Corp shedding 2.6 percent.
Indonesia rose 0.2 percent, heading for a fourth
straight session of gains, helped by financials. Indonesian
shares have climbed 1.7 percent so far this week, on track for
their highest weekly gain since the week ended on Sept. 23.
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SOUTHEAST ASIAN STOCK MARKETS: change as of 0438 GMT
Market Current previous close Pct Move
Singapore 2922.57 2928.58 -0.21
Bangkok 1509.85 1512.38 -0.17
Manila 6852.38 6864.87 -0.18
Jakarta 5207.806 5198.755 0.17
Kuala Lumpur 1627.91 1626.44 0.09
Ho Chi Minh 663.44 666.54 -0.47
Change this year
Market Current End 2015 Pct Move
Singapore 2922.57 2882.73 1.38
Bangkok 1509.85 1288.02 17.22
Manila 6852.38 6952.08 -1.43
Jakarta 5207.806 4593.008 13.39
Kuala Lumpur 1627.91 1692.51 -3.82
Ho Chi Minh 663.44 579.03 14.58
(Reporting by Sindhu Chandrasekaran; additional reporting by
Hanna Paul; Editing by Subhranshu Sahu)