December 12, 2017 / 4:55 AM / 2 years ago

SE Asia Stocks-Mark time ahead of Fed meeting

    By Chris Thomas
    Dec 12 (Reuters) - Most Southeast Asian stock markets marked
time on Tuesday with investors awaiting the U.S Federal
Reserve's policy meeting for cues about the world's largest
economy, while Vietnam shares rose up to 1.5 percent after a
sharp drop in the previous session.
    The Fed is widely expected to raise interest rates at its
two-day policy meeting that will end on Wednesday, which could
lead to foreign fund outflows from emerging markets.
    Capital outflows from emerging markets may accelerate
especially since the United States is poised to raise its
interest rates again, said Rachelle Cruz, an analyst with
Manila-based AP Securities.
    Singapore shares fell 0.4 percent after two days of
sharp gains with index heavyweight Jardine Matheson Holdings
 being the top loser.
    The FTSE Straits Times Index climbed more than 2 percent in
the previous two sessions, and over 20 percent this year as of
Monday's close.
    DBS Bank said it remains optimistic about the city-state's
economic growth, expecting headline GDP growth to hover around 3
percent in the next two years.
    "Drivers of the economy could interchange, with services
likely to take a commanding position in the coming years. The
global environment will be conducive for small, trade-dependent
economies, such as Singapore, but development in China will be
key to watch," DBS said in a research note.
    Philippine shares were down after three straight
sessions of gains. BDO Unibank and SM Investments Corp
 were the biggest drags, shedding 2 percent and 1.2
percent, respectively.
    The country's trade deficit widened to a record $2.84
billion in October, while the jobless rate fell to 5 percent,
data showed.
    Malaysian shares were marginally higher, while Thai
shares gave up early gains to trade lower.     
    Malaysia's industrial production in October rose
3.4 percent from a year earlier, slowing in pace for the second
straight month.
    In Vietnam, brewers Sabeco and Habeco were
the biggest boost. Both stocks surged 7 percent each.
    A unit of Singapore's Thai Beverage has emerged as
the only prospective bidder for state-owned shares in Sabeco
that has declared that it could lead to it owning 25 percent or
more of Vietnam's biggest brewer.
    Thai Beverage is expected to make an announcement on its bid
later in the day.
For Asian Companies click;  

 Market             Current   Previous close  Pct Move
 Singapore          3448.78   3460.45         -0.34
 Bangkok            1704.47   1712.48         -0.47
 Manila             8321.82   8358.57         -0.44
 Jakarta            6030.064  6026.633        0.06
 Kuala Lumpur       1719.97   1719.47         0.03
 Ho Chi Minh        921.88    917.45          0.48
 Change on year                               
 Market             Current   End 2016        Pct Move
 Singapore          3448.78   2880.76         19.72
 Bangkok            1704.47   1542.94         10.47
 Manila             8321.82   6840.64         21.65
 Jakarta            6030.064  5296.711        13.85
 Kuala Lumpur       1719.97   1641.73         4.77
 Ho Chi Minh        921.88    664.87          38.66
 (Reporting by Chris Thomas in Bengaluru; Editing by Subhranshu
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