August 25, 2017 / 3:59 AM / 2 years ago

SE Asia Stocks-Mark time before Yellen, Draghi speeches

    By Ambar Warrick
    Aug 25 (Reuters) - Southeast Asian stock markets marked time
on Friday as investors waited on speeches at the central
bankers' symposium in Jackson Hole, Wyoming, for fresh
indications on monetary policy. 
    While both Federal Reserve Chair Janet Yellen and European
Central Bank President Mario Draghi are not expected to deliver
any fresh policy messages in the conference, investors were wary
of any hawkish comments which could prompt selling of regional
    "We believe Yellen is unlikely to rock the boat, but because
valuations and price are reaching historical highs, I think the
market is taking a conservative approach in making investment
decisions," said Taye Shim, head of research at Jakarta-based
Mirae Asset Sekuritas.
    In Southeast Asia, Singapore shares shed about 0.2
percent on weakness in financial and real estate stocks, but
were on track to end the week higher.
    United Overseas Bank fell as much as 0.7 percent,
while Global Logistic Properties declined 0.6 percent.
    The export-driven economy's industrial production likely
rose at the fastest annual pace in seven months in July, thanks
to a global electronics boom, a Reuters poll showed.

    Malaysian shares posted their biggest intraday
percentage fall in two weeks, fuelled by a decline in consumer
discretionary and financial stocks. 
    Resort operator Genting Malaysia Bhd fell to a
near two-week low after its quarterly profit more than halved,
while banker CIMB Group Holdings shed as much as 1.5
    On the other hand, Philippine stocks rose marginally
to hit a one-week high, helped by real estate and telecom
    Property developer SM Prime Holdings rose as much
as 2.1 percent, while telecommunication services provider PLDT
Inc was on track for a third consecutive session of
    "With the earnings season over, there is a lack of catalysts
that could move the market in the near term," RCBC Securities
said in a research note.

For Asian Companies click;  

  Change on the day                                          
  Market              Current      previous close    Pct Move
  Singapore           3264.39      3272.16           -0.24
  Bangkok             1576.32      1575.96           0.02
  Manila              8012.97      8004.93           0.10
  Jakarta             5884.002     5894.117          -0.17
  Kuala Lumpur        1769.61      1775.5            -0.33
 Ho Chi Minh          770.03       769.77            0.03
  Change so far in                                   
  Market              Current      End 2016          Pct Move
  Singapore           3264.39      2880.76           13.32
  Bangkok             1576.32      1542.94           2.16
  Manila              8012.97      6840.64           17.14
  Jakarta             5884.002     5296.711          11.09
  Kuala Lumpur        1769.61      1641.73           7.79
 Ho Chi Minh          770.03       664.87            15.82
 (Reporting by Ambar Warrick in Bengaluru; Editing by Subhranshu
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