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SE Asia Stocks-Most subdued; Vietnam hits fresh near 10-yr high
November 8, 2017 / 4:48 AM / 11 days ago

SE Asia Stocks-Most subdued; Vietnam hits fresh near 10-yr high

    By Karthika Suresh Namboothiri
    Nov 8 (Reuters) - Most Southeast Asian stock markets were
muted on Wednesday, with Indonesia slipping from a record close,
as investors took a breather in the absence of market-moving
data.
    However, Vietnam stocks firmed to hit a fresh near
decade high, while Singapore held on to two-year highs.
    Global equities were largely muted as concerns of a delay in
U.S. tax reform proposal and apprehension over Saudi Arabia's
rising tensions with Iran soured investor sentiment.
    "Markets seem unsure which way to go next – equity markets
are largely becalmed...," ING analysts said in a note.
    Indonesian stocks slumped 0.3 percent from a record
close, dragged by the telecommunications sector, with Perusahaan
Perseroan (Persero) PT Telekomunikasi Indonesia Tbk,
down 1.7 percent.
    Singapore index was largely flat, with real estate
giant CapitaLand Ltd down 1.1 percent and Keppel Corp
Ltd giving up 0.9 percent. 
    Philippine stocks edged 0.3 percent lower, with
industrial stocks accounting for majority of the losses, as SM
Investments Corp slumped 2.8 percent, and food processor
JG Summit HoldingS dropped 1.2 percent.
    Real estate stock Ayala Land was the biggest drag
on the index, declining 2 percent. Manila-based RCBC Securities
analyst Fio De Jesus attributed the stock's move to
profit-taking after it rose 1.3 percent in its previous session
on strong nine-month earnings.    
    Thai shares pared early gains in the session to
trade down 0.1 percent ahead of the Bank of Thailand's rate
decision due later in the day.
    The central bank is expected to leave its benchmark interest
rate near record lows again, with the current level seen
supporting the country's economic recovery while inflation stays
benign.
    Vietnam shares gained 0.9 percent, with real estate
developer Vingroup Joint Stock Company climbing 4.7
percent to an all-time peak. 
    
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SOUTHEAST ASIAN STOCK MARKETS: CHANGE AT 0400 GMT
  Market           Current       Previous     Pct Move
                                 close        
  Singapore        3411.22       3413.1       -0.06
  Bangkok          1711.33       1712.75      -0.08
  Manila           8499.88       8521.81      -0.26
  Jakarta          6040.701      6060.453     -0.33
  Kuala Lumpur     1748.71       1750.94      -0.13
  Ho Chi Minh      857.9         850.33       0.89
                                              
  Change on year                              
  Market           Current       End 2016     Pct Move
  Singapore        3411.22       2880.76      18.41
  Bangkok          1711.33       1542.94      10.91
  Manila           8499.88       6840.64      24.26
  Jakarta          6040.701      5296.711     14.05
  Kuala Lumpur     1748.71       1641.73      6.52
  Ho Chi Minh      857.9         664.87       29.03
 

 (Reporting by Karthika Namboothiri in Bengaluru; Editing by
Amrutha Gayathri)
  

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