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SE Asia Stocks-Most fall on profit-booking, caution ahead of Fed meet
September 19, 2017 / 10:26 AM / a month ago

SE Asia Stocks-Most fall on profit-booking, caution ahead of Fed meet

    By Binisha Ben
    Sept 19 (Reuters) - Most Southeast Asian stock markets ended
lower on Tuesday on profit-booking and caution ahead of a U.S
Federal Reserve meeting, with the Philippine index
posting its biggest single-day fall in more than four months.
    Broader market sentiment was weak in Asia with participants
waiting for clues on the pace of interest rate hikes in the U.S.
after the Federal Reserve wraps up its two-day meeting on
Wednesday.
    "Traders are staying on the sidelines waiting for the
Federal Reserve monetary policy decision this week. In the
absence of major stimulus, we are most likely observing some
profit taking," said Liu Jinshu, director of research at NRA
Capital.
    MSCI's broadest index of Asia-Pacific shares outside Japan
 fell 0.2 percent.
    Philippine shares dropped 1.6 percent, their biggest
percentage fall since May 10, weighed down by financials and
industrial stocks.
     SM Investments and conglomerate Ayala Corp
were the top losers, down 2.4 percent and 3.8 percent,
respectively.
     Singapore shares fell 0.5 percent, dragged by top
lenders Oversea-Chinese Banking Corporation and United
Overseas Bank.
     Thai shares rose 0.1 percent with Airports of
Thailand gaining 3 percent to a record high and oil and gas
refiner PTT Pcl climbing 1 percent.
    Data on Tuesday showed the country welcomed 3.13 million
tourists in August, a record for the low-season month,
indicating that a stronger baht is not hurting an industry that
has been a rare bright spot for the economy.  
    Tourism accounts for 12 percent of Southeast Asia's
second-largest economy, whose growth has picked up after years
of sluggishness.
    Indonesia stocks rose 0.2 percent, helped by gains
in energy and financial stocks, while an index of Indonesia's 45
most liquid stocks rose 0.3 percent.
    Mining contracts provider United Tractors Tbk
gained 1.3 percent, while Bank Central Asia Tbk was up
0.5 percent.
        
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SOUTHEAST ASIAN STOCK MARKETS: Change on day
  
  Market           Current       Previous     Pct Move
                                 Close        
  Singapore        3225.95       3241.85      -0.49
  Bangkok          1672.59       1670.2       0.14
  Manila           8162.7        8294.14      -1.58
  Jakarta          5901.326      5884.611     0.28
  Kuala Lumpur     1776.66       1783.66      -0.39
  Ho Chi Minh      805.93        807.87       -0.24
                                              
  Change on year                              
  Market           Current       End 2016     Pct Move
  Singapore        3225.95       2880.76      11.98
  Bangkok          1672.59       1542.94      8.40
  Manila           8162.7        6840.64      19.33
  Jakarta          5901.326      5296.711     11.41
  Kuala Lumpur     1776.66       1641.73      8.22
  Ho Chi Minh      805.93        664.87       21.22
  



 (Reporting by Binisha Ben in Bengaluru; Editing by Vyas Mohan)
  

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