December 2, 2016 / 5:20 AM / a year ago

SE Asia Stocks-Sluggish ahead of U.S. payroll data

By Sindhu Chandrasekaran
    Dec 2 (Reuters) - 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
the deal. 
    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.
For Asian Companies click;  

  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)
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