July 31, 2018 / 10:34 AM / 20 days ago

SE Asia Stocks-Philippines, Indonesia down over 1 pct; Fed decision awaited

    * Philippines sees best month in over 2 yrs
    * Malaysia extends gains to 7th straight session

    By Syed Saif Hussain Naqvi
    July 31 (Reuters) - Philippine and Indonesian shares fell
more than 1 percent on Tuesday while most other markets in the
region inched higher after the Bank of Japan maintained its
accommodative monetary stance, but gains were limited on caution
ahead of the U.S. Federal Reserve's policy meeting.
    Bank of Japan on Tuesday said it would keep interest rates
"very low" for the time being and took measures to make its
massive stimulus programme more flexible. 
    Globally, investors are keeping a close eye on the outcome
of U.S. Federal Reserve policy meeting on Wednesday, where it is
expected to keep key rates unchanged.
    "The key driver right now is policy normalization in the
United States with the Fed tightening key rates, while ECB and
Bank of Japan are still easing their monetary policies which is
supportive for global equity markets," said Joel Ng, an analyst
at KGI Securities.
    Indonesian shares slumped 1.5 percent, ending a
seven-session winning streak, after the country's largest
telecom player Perusahaan Perseroan (Persero) PT Telekomunikasi
Indonesia Tbk reported a fall in half-year net income.

    Meanwhile, data showed the country's exports and output of
palm oil fell in June from a month earlier.
    Philippine shares ended a five-day gaining streak and
closed 1.3 percent lower, dragged by financials. The index,
however, posted its sharpest monthly rise since March 2016.     
    Malaysian shares extended gains to a seventh
straight session and ended 0.8 percent higher as investors
brushed aside lower palm oil product exports data for July. The
index recorded its biggest monthly gain since October 2011.
    Exports of Malaysian palm oil products for July fell 3.9
percent to 1 million tonnes shipped compared with 1.1 million
tonnes shipped during June.
    Singapore rose 0.4 percent, led by financial and
industrial stocks. 
    "Singapore's bank loans growth unexpectedly accelerated from
5.5 percent yoy in May to 5.9% yoy in June. This beat our
expectations for a moderation in June, and marked the fastest
pace of bank loans growth since November 2017," OCBC Treasury
Research said in a note. 
    Financial bellwethers Oversea-Chinese Banking Corp
, United Overseas Bank and DBS Group Holdings
, all gained ahead of earnings.
    
    
For Asian Companies click;  

SOUTHEAST ASIAN STOCK MARKETS
  STOCK MARKETS                                    
  Change on the                                    
 day                                       
  Market          Current      Previous    Pct Move
                               close       
  Singapore       3319.85      3307.15     0.38
  Bangkok         1701.79      1701.87     0.00
  Manila          7672         7773.32     -1.30
  Jakarta         5936.443     6027.936    -1.52
  Kuala Lumpur    1784.25      1770.26     0.79
 Ho Chi Minh      956.39       949.73      0.70
                                           
  Change on year                           
  Market          Current      End 2017    Pct Move
  Singapore       3319.85      3402.92     -2.44
  Bangkok         1701.79      1753.71     -2.96
  Manila          7672         8,558.42    -10.36
  Jakarta         5936.443     6355.654    -6.60
  Kuala Lumpur    1784.25      1796.81     -0.70
  Ho Chi Minh     956.39       984.24      -2.83
 


 (Reporting by Syed Saif Hussain Naqvi in Bengaluru; Editing by
Vyas Mohan)
  
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