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SE Asia Stocks-Vietnam weak on lower dong; Philippines trims loss before rate decision
June 19, 2014 / 10:37 AM / 3 years ago

SE Asia Stocks-Vietnam weak on lower dong; Philippines trims loss before rate decision

BANGKOK, June 19 (Reuters) - Stocks in Vietnam ended down
0.5 percent on Thursday, recovering most of their early losses
weighed down by the central bank's small depreciation of the
dong, while Philippine benchmark recouped some losses before an
expected interest rate decision.
    Vietnam's VN Index dropped 2 percent in early trading
on reports that China was moving a second oil rig in the South
China Sea, analysts said. 
    The State Bank of Vietnam (SBV) lowered the midpoint rate
for trading its currency on the interbank market by 1
percent on Thursday to support exports, the key driver of the
    The Philippine main index closed down 0.06 percent at
6,699.39, bouncing off an intraday low of 6,657.22.
    Philippine central bank kept its benchmark rate at a record
low, but surprised markets by raising the rate on a short-term
special deposit account facility (SDA) in a bid to contain
liquidity growth that can fuel inflation
    The announcement came after the stock market close.
    Big caps performed mixed, with banking shares such as
Metropolitan Bank & Trust ending down and
telecommunications share such as Philippine Long Distance
Telephone closing higher.
    Stock exchange data showed foreign investors sold shares for
a fourth session, offloading a net 1.08 billion peso ($24.6
million). They sold a combined 905 million peso ($20.63 million)
in three sessions to Wednesday. 
    Sentiment in Southeast Asia was broadly positive after the
U.S. Federal Reserve's decision delivered no surprises to the
market. Malaysia's index hit a one-month high and Thai
SET index snapped two days of falls.
    Asian shares rose on Thursday after the U.S. Federal Reserve
gave a positive assessment of the economy and committed to
keeping monetary policy accommodative. 
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 Change on day
 Market             Current     Prev Close    Pct Move
 TR SE Asia Index*   424.59        422.24       +0.56
 Singapore          3269.02       3276.80       -0.24
 Kuala Lumpur       1881.48       1876.58       +0.26
 Bangkok            1461.91       1451.36       +0.73
 Jakarta            4864.27       4887.86       -0.48
 Manila             6699.39       6703.13       -0.06
 Ho Chi Minh         567.35        570.03       -0.47
 Change on year 
 Market             Current       End 2013    Pct Move
 TR SE Asia Index*   424.59        388.37       +9.33
 Singapore          3269.02       3167.43       +3.21
 Kuala Lumpur       1881.48       1866.96       +0.78
 Bangkok            1461.91       1298.71      +12.57
 Jakarta            4864.27       4274.18      +13.81
 Manila             6699.39       5889.83      +13.75
 Ho Chi Minh         567.35        504.63      +12.43
* The Thomson Reuters South East Asia Index is a
highly representative indicator of stocks listed in Indonesia,
Malaysia, the Philippines, Singapore, Thailand and Vietnam.    
($1 = 43.8600 Philippine Pesos)

 (Reporting by Viparat Jantraprap; Additional reporting by Mai
Nguyen in Hanoi; Editing by Anand Basu)

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