January 17, 2018 / 4:36 AM / a year ago

SE Asia Stocks-Most subdued as Wall St slips; Philippines gains

    * Wall Street slips overnight after record-setting run
    * Asian shares ex-Japan retreat from all-time peak
    * Philippines extends gains

    By Devika Syamnath
    Jan 17 (Reuters) - Most Southeast Asian stock markets were
muted on Wednesday in line with broader Asia as Wall Street took
a breather after its record-setting run, dampening momentum in
global equities.
    Broader Asian stocks came off an all-time high as weaker oil
and commodity prices hurt resource shares, after U.S. energy
stocks took a hit overnight on a drop in oil prices from
three-year highs.
    "The minor decline in Wall Street has spurred some selling
pressure in regional markets," said Manny Cruz, an analyst at
Asiasec Equities Inc. 
    MSCI's broadest index of Asia-Pacific shares outside Japan
 dropped 0.4 percent as of 0415 GMT.
    Singapore shed as much as 0.3 percent as financials
fell, putting the index on track for its first losing session in
    The city-state's export growth slowed more than expected in
December due to a fall in electronics trade and the first
decline in shipments to China in over a year, data
    Singapore's top lenders Oversea-Chinese Banking Corp
 and DBS Group lost 0.6 percent and 0.4
percent, respectively. 
    Malaysian shares lost as much as 0.3 percent, with
power generator Tenaga Nasional shedding 0.6 percent
and telecom Axiata Group retreating 1.4 percent.
    Meanwhile, Thai shares reversed early losses to inch
higher, as gains in real estate stocks more than offset losses
in energy stocks.
     Petroleum explorer PTT Exploration and Production
 fell as much as 2.7 percent while Land and Houses PCL
 gained 4.5 percent to touch its highest in well over
four years. 
    Philippine shares were set for a fourth straight
session of gains as Ayala Corp gained 2.2 percent and
International Container Terminal Services firmed 3.4
    President Rodrigo Duterte on Tuesday proposed to cut the
corporate tax rate and rationalise fiscal incentives to
investors in the second of five tax-reform packages submitted to
For Asian Companies click;  

  Change on day                                    
  Market          Current      Previous    Pct Move
  Singapore       3542.13      3550.21     -0.23
  Bangkok         1824.17      1821.83     0.13
  Manila          8887.89      8865.13     0.26
  Jakarta         6434.188     6429.692    0.07
  Kuala Lumpur    1823.69      1826.03     -0.13
 Ho Chi Minh      1063.23      1062.96     0.03
  Change on year                           
  Market          Current      End 2017    Pct Move
  Singapore       3542.13      3402.92     4.09
  Bangkok         1824.17      1753.71     4.02
  Manila          8887.89      8558.42     3.85
  Jakarta         6434.188     6355.654    1.24
  Kuala Lumpur    1823.69      1796.81     1.50
  Ho Chi Minh     1063.23      984.24      8.03

 (Reporting by Devika Syamnath in Bengaluru; Editing by Amrutha
0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below