December 5, 2016 / 9:45 AM / 2 years ago

SE Asia Stocks-Philippines tumbles on foreign selling; S'pore hits 4-month high

Dec 5 (Reuters) - Philippine shares fell 1.6 percent
on Monday, hurt by financial and industrial stocks, as
foreigners continued to dump domestic shares for safer havens.
    Other Southeast Asian stock markets were choppy and ended
mixed as uncertainty from the euro zone following Italian Prime
Minister Matteo Renzi's resignation in the wake of a heavy
defeat on constitutional referendum kept investors on the
sidelines.
    "Philippine market is weak on heavy foreign selling today -
we're already on our first month of net foreign selling. On a
year-to-date basis we're on a net sell of about 15 billion pesos
 ($301.9 million)," said Lexter Azurin, assistant vice president
and head of equities research at Unicapital Securities Inc in
Manila.
    There is also uncertainty caused by political concerns
following the resignation of Philippines Vice President Leni
Robredo, Azurin said.
    Robredo resigned on Sunday due to "major differences" with
President Rodrigo Duterte and suspicions that a plot was
underway to unseat her from the number two job. 
    Property firm SM Investments Corp lost 3.9 percent,
while financial major Ayala Corp slumped 4 percent.
    Singapore shares closed 0.8 percent higher, hitting
an over four-month high. Gains came from the real-estate sector,
which saw Global Logistic Properties, Monday's best
index performer, gaining 5.6 percent.
    Indonesia shares rose as much as 0.7 percent to a
four week high, and ended the day up for a fifth straight
session.
    Gainers were led by energy shares, which rose on weaker oil
prices since Indonesia imports oil.
    Malaysia gained traction in midday trading to end
0.2 percent weaker, while Vietnam slipped 0.7 percent.
    Thailand was closed for the late King Bhumibol
Adulyadej's birthday.
    For Asian Companies click;  

SOUTHEAST ASIAN STOCK MARKETS
  STOCK MARKETS                                            
  Change on day                                            
  Market            Current       Previous Close  Pct Move
  Singapore         2943.05       2919.37         0.81
  Manila            6776.41       6886.74         -1.60
  Jakarta           5268.308      5245.956        0.43
  Kuala Lumpur      1624.97       1628.96         -0.24
  Ho Chi Minh       660.21        665.14          -0.74
                                                  
  Change this year                                
  Market            Current       End 2015        Pct Move
  Singapore         2943.05       2882.73         2.09
  Manila            6776.41       6952.08         -2.53
  Jakarta           5268.308      4593.008        14.70
  Kuala Lumpur      1624.97       1692.51         -3.99
  Ho Chi Minh       660.21        579.03          14.02
  Bangkok           1501.66       1288.02         16.59
 
 ($1 = 49.6870 Philippine pesos)

 (Reporting by Aparajita Saxena in Bengaluru; Editing by
Gopakumar Warrier)
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