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SE Asia Stocks-Philippines sheds 1 pct, Vietnam slips from near 10-yr high
November 15, 2017 / 4:39 AM / 8 days ago

SE Asia Stocks-Philippines sheds 1 pct, Vietnam slips from near 10-yr high

    By Karthika Suresh Namboothiri
    Nov 15 (Reuters) - Most Southeast Asian stock markets
weakened on Wednesday, with the Philippines slipping more than 1
percent and Vietnam pulling away from a near decade high, as a
slide in global equities and oil prices spurred risk aversion. 
    Broader Asian shares edged down, tracking overnight losses
on Wall Street, after oil prices took a beating on weak demand
outlook.
    The International Energy Agency on Tuesday cut its oil
demand growth forecast for the year and next, implying that the
world oil consumption may not, as many expect, breach 100
million barrels per day next year, while supplies are likely to
exceed that level.
    "Sliding equities on both sides of the Atlantic suggest that
risk appetite continues to dissipate led by the buckle in Oil
prices," said Mizuho Bank in a research note.
    Singapore shares edged 0.8 percent lower, with
financials and industrials accounting for the losses.
   The city-state's biggest lender DBS Group Holdings Ltd
 fell 0.9 percent, while conglomerate Jardine Matheson
Holdings Ltd dropped 2.3 percent.
    The Vietnamese index fell 0.4 percent, snapping an
eight-session gaining streak that lifted the index to its 
highest close in nearly 10 years in the previous session.
    Real estate developer Vincom Retail Joint Stock Co
fell 5.6 percent and was among the top drags on the index.
    Philippine shares shed 1.1 percent, dragged by
industrials, with SM Investments Corp down 2.8 percent,
and JG Summit Holdings losing 3.3 percent. 
    Thai shares slumped 0.3 percent, with energy stocks
leading the losses. Gas and petroleum distributor PTT Public Co
Ltd down 1 percent, was the biggest drag. 
    In contrast to the broader trend, Indonesian shares
climbed about 0.1 percent, with Bank Central Asia Tbk
up 1.2 percent.
   "The third-quarter cumulative non-tax revenue soared close to
40 percent, and that was driven by commodities, natural
resources," said Taye Shim, head of research at Mirae Asset
Sekuritas, Indonesia.
    The index of the 45 most liquid stocks in Indonesia
 rose 0.3 percent.
    Indonesia posted a trade surplus for a third straight month
in October, the statistics bureau said on Wednesday, as improved
demand for commodities underpinned exports from Southeast Asia's
biggest economy.
    
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SOUTHEAST ASIAN STOCK MARKETS: CHANGE AT 0430 GMT
  Change on the                                        
 day                                          
  Market           Current       Previous     Pct Move
                                 close        
  Singapore        3370.52       3399.09      -0.84
  Bangkok          1697.92       1702.63      -0.28
  Manila           8276.64       8379.64      -1.23
  Jakarta          5992.149      5988.292     0.06
  Kuala Lumpur     1731.81       1733.61      -0.10
  Ho Chi Minh      877.9         880.9        -0.34
                                              
  Change on year                              
  Market           Current       End 2016     Pct Move
  Singapore        3370.52       2880.76      17.00
  Bangkok          1697.92       1542.94      10.04
  Manila           8276.64       6840.64      20.99
  Jakarta          5992.149      5296.711     13.13
  Kuala Lumpur     1731.81       1641.73      5.49
  Ho Chi Minh      877.9         664.87       32.04
 

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

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