December 7, 2018 / 4:17 AM / 5 days ago

SE Asia Stocks-Most recover as investors expect fewer Fed rate hikes

    * Singapore on track to snap three sessions of losses
    * Philippines, Malaysia fall

    By Shreya Mariam Job
    Dec 7 (Reuters) - Most Southeast Asian stock markets picked
up on Friday after two consecutive sessions of losses on
speculation that the U.S. Federal Reserve might stop its
tightening cycle after an expected rate hike at its meeting
later this month.  
    The Wall Street Journal reported that Fed officials are
considering whether to signal a new wait-and-see mentality after
a likely rate increase at their meeting in December.

    Bolstered by the report, the MSCI's broadest index of
Asia-Pacific shares outside Japan nudged up 0.4
percent, following a 1.8 percent fall on Thursday.
    However, markets also remained cautious over concerns that
the arrest of a top executive of Chinese tech giant Huawei could
dampen the possibility of a trade deal between Washington and
Beijing.
    "The underlying risk sentiment whatever we see for Asian
markets today is relief rather than exuberance," said Vishnu
Varathan, head of economics and strategy at Mizuho Bank in
Singapore.
    "I think that (Huawei top executive's arrest) is really
going to be the thing that hems in any semblance of optimism or
relief that the markets gather from the Fed. This (the relief)
can quite easily dissipate when they think of the broader
challenges for an amicable resolution to U.S.-China trade
relations," he added
    Singapore stocks climbed 0.5 percent, underpinned by
industrials and consumer non-cyclicals.
    Index heavyweight Jardine Matheson Holdings Ltd
gained 2.1 percent, while DBS Group Holdings Ltd edged
up 0.5 percent. 
    Meanwhile, financial and consumer staples drove the Vietnam
benchmark 0.5 percent higher.
    Vietnam Dairy Products JSC rose 1.8 percent and
Joint Stock Commercial Bank for Investment and Development of
Vietnam strengthened 1.3 percent. 
    Indonesian stocks inched up 0.2, supported by a rise
in consumer discretionary and real estate stocks, while
industrials and materials drove the Thai index 0.3
percent higher. 
    The Philippines bucked the trend, falling 0.7 percent,
pulled lower largely by industrial stocks.
    Losses were dominated by JG Summit Holding Inc and
Ayala Land Inc which shed 3.4 percent and 1.2 percent,
respectively. 
For Asian Companies click;  

SOUTHEAST ASIAN STOCK MARKETS AS AT 0412 GMT 
    
 Market          Current   Previous close  Pct Move
 Singapore       3130.26   3115.52         0.47
 Bangkok         1657.85   1653.73         0.25
 Manila          7481.32   7535.32         -0.72
 Jakarta         6129.825  6115.493        0.23
 Kuala Lumpur    1680.44   1683.34         -0.17
 Ho Chi Minh     959.36    954.82          0.48
                                           
 Change on year                            
 Market          Current   End prev yr     Pct Move
 Singapore       3130.26   3402.92         -8.01
 Bangkok         1657.85   1753.71         -5.47
 Manila          7481.32   8,558.42        -12.59
 Jakarta         6129.825  6,355.65        -3.55
 Kuala Lumpur    1680.44   1796.81         -6.48
 Ho Chi Minh     959.36    984.24          -2.53
 
 (Reporting by Shreya Mariam Job in Bengaluru; Editing by Sunil
Nair)
  
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