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SE Asia Stocks-Muted; Singapore set to extend losses
December 7, 2017 / 4:19 AM / in 5 days

SE Asia Stocks-Muted; Singapore set to extend losses

    By Nikhil Nainan
    Dec 7 (Reuters) - Most Southeast Asian stock markets traded
within a tight range on Thursday as uncertainty over U.S.
government policies kept risk sentiment in check, with Singapore
set to extend the previous session's sharp decline.
    Asian markets remained tentative after Wednesday's slump,
with MSCI's broadest index of Asia-Pacific shares outside Japan
 hovering around a near two-month low.

    Investors are looking to final tax reform legislation in the
United States, where a potential U.S. government shutdown looms
if Congress fails to agree on a spending package.

    Singapore shares fell 0.4 percent, after retreating
1.2 percent the previous day, on course for a sixth losing
session in seven. 
    "Yesterday was quite bad… I guess it was part of the broader
selloff. Probably in part following the U.S. tax reforms passing
the Senate. So I think now it's just waiting for the next
catalyst, which is the Senate and House having to reconcile
their tax bill," said Joel Ng, an analyst at KGI Securities in
Singapore. 
    Losses in industrials and financial stocks outweighed strong
gains in real estate stocks, with City Developments
and CapitaLand Commercial Trust rising over 2 percent.
    "They are probably range-bound at this level, so I think you
are starting to see investors coming in, in view of the positive
outlook over the next few years for property," Ng added.
    Meanwhile, Philippine stocks inched up 0.3 percent,
led by gains in telecom and energy stocks, with PLDT Inc
 and Semirara Mining and Power Corp rising 2.2
percent and 7 percent, respectively. 
    Malaysian shares rose 0.1 percent, with Sime Darby
Plantation rising 4.3 percent.
    Indonesia and Vietnam were marginally lower,
while Thai shares edged higher.
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SOUTHEAST ASIAN STOCK MARKETS: CHANGE AT 0414 GMT
 Change at 0414 GMT                                 
 Market                   Current   Previous close  Pct Move
 Singapore                3383.77   3397.21         -0.40
 Bangkok                  1699.18   1694.39         0.28
 Manila                   8149.89   8129.62         0.25
 Jakarta                  6028.925  6035.508        -0.11
 Kuala Lumpur             1719.84   1718.33         0.09
 Ho Chi Minh              944.06    947.64          -0.38
                                                    
 Change so far this year                            
 Market                   Current   End 2016        Pct Move
 Singapore                3383.77   2880.76         17.46
 Bangkok                  1699.18   1542.94         10.13
 Manila                   8149.89   6840.64         19.14
 Jakarta                  6028.925  5296.711        13.82
 Kuala Lumpur             1719.84   1641.73         4.76
 Ho Chi Minh              944.06    664.87          41.99
 
 (Reporting by Nikhil Kurian Nainan; Editing by Amrutha
Gayathri)
  

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