July 24, 2017 / 4:22 AM / 2 years ago

SE Asia Stocks-Sluggish in low-volume trade; Vietnam drops 1 pct

    By Chris Thomas
    July 24 (Reuters) - Southeast Asian stock markets were
sluggish in low-volume trade on Monday, in line with Asian peers
as U.S. political uncertainties dampened hopes for quick passage
of President Donald Trump's stimulus and tax reform agendas,
weighing on investors' risk appetite.
    The Trump administration, already dogged by investigations
into alleged Russian meddling in the U.S. election, took a fresh
hit on Friday after White House spokesman Sean Spicer resigned,
highlighting an upheaval within the president's inner circle.

    MSCI's broadest index of Asia-Pacific shares outside Japan
 was down 0.1 percent in early trade.
    "Most Asian markets coming into this week are trading
cautiously," said Victor Felix, an equity analyst with
Manila-based AB Capital Securities.
    Coupled with a shaky dollar, uncertainties surrounding
Trump's administration have investors on edge, he added.    
    The dollar index against a group of six currencies was
little changed at 93.854, after touching 93.847, its
lowest since June 2016.
    In Southeast Asia, Singapore stocks fell as much as
0.6 percent ahead of inflation data due later in the day, with
financials leading the decline. DBS Group Holdings,
Oversea-Chinese Banking Corp and United Overseas Bank
 dropped 1 percent each.
    The city-state's consumer price index (CPI) is expected to
have risen 0.7 percent in June from a year earlier, a Reuters
poll showed, slowing significantly from 1.4 percent in the
previous month.
    Philippine shares declined as much as 0.5 percent
ahead of President Rodrigo Duterte's second State of the Nation
Address. Heavyweights SM Prime Holdings and SM
Investments Corp fell 2.6 percent and 1.8 percent,
    Investors will be watching Duterte's address for clues on
the tax reforms, how quickly his administration can roll out the
big-ticket infrastructure programme they've been espousing the
past year, and also how soon the conflict in Marawi can be
ended, Felix said.
    Vietnam shares declined as much as 1.1 percent to its
lowest in nearly six weeks, and were headed for a third straight
session of falls. 
    Saigon Beer Alcohol Beverage Corp was the biggest
drag, falling as much as 4.9 percent.
    Indonesian shares opened the session lower but
recovered to trade marginally higher, helped by financials.
    Thai stocks gained as much as 0.3 percent, while
Malaysian shares were flat.        

For Asian Companies click;  

  Change on day                                         
  Market          Current      Previous Close   Pct Move
  Singapore       3306.63      3314.12          -0.23
  Bangkok         1577.4       1573.51          0.25
  Manila          7968.98      7989.73          -0.26
  Jakarta         5777.168     5765.424         0.20
  Kuala Lumpur    1759.49      1759.16          0.02
  Ho Chi Minh     754.72       761.86           -0.94
  Change on year                                
  Market          Current      End 2016         Pct Move
  Singapore       3306.63      2880.76          14.78
  Bangkok         1577.4       1542.94          2.23
  Manila          7968.98      6840.64          16.49
  Jakarta         5777.168     5296.711         9.07
  Kuala Lumpur    1759.49      1641.73          7.17
  Ho Chi Minh     754.72       664.87           13.51
 (Reporting by Chris Thomas; Editing by Subhranshu Sahu)
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