SE Asia Stocks-Tepid on lack of triggers; Vietnam hits over 9-yr high
Thursday, March 30,2017AsemconnectVietnam - Southeast Asian stock markets moved sideways on Thursday in thin trading in the absence of market-moving macroeconomic triggers, while Vietnam rose to its highest in more than nine years.
The start of the UK's historical negotiations to leave the European Union had little impact on Southeast Asia, but MSCI's broadest index of Asia-Pacific .MIAPJ0000PUS shares outside Japan edged down 0.3 percent.
"Brexit has been widely discussed ever since it first surfaced, but if you look at the boarder Southeast Asia market, it has a limited fundamental impact," said Taye Shim, head of research at Jakarta-based Mirae Asset Sekuritas.
He added it was very unlikely that any positive data from the United States to support more interest rate hikes would make Asian investors uncomfortable since the Federal Reserve had already clarified its policy stance.
"Broadly I think it's more of a mixed sentiment between profit-taking and what kind of next upside catalyst do we have," Shim said.
Vietnam .VNI gained as much as 0.7 percent, touching its highest since February 2008, boosted by gains in financials and consumer staples.
Philippine shares .PSI rose as much as 0.5 percent, supported by industrials and consumer discretionary stocks, with Jollibee Foods Corp JFC.PS and Manila Electric Co MER.PS gaining as much 3.5 percent and 2.2 percent, respectively.
Thai index .SETI was up as much as 0.2 percent, with materials and real estate leading the gains.
Port operator Bangpakong Terminal Pcl BTC.BK gained as much as 14.3 percent, while CIMB Thai Bank Pcl CIMBT.BK rose 5.2 percent, and were among the top performers on the index.
Singapore shares .STI fell as much as 0.5 percent, hurt by the industrial sector, with Jardine Matheson Holdings JARD.SI and Jardine Cycle and Carriage Ltd JCYC.SI falling as much as 2.7 percent and 1.3 percent, respectively.
Financials and consumer discretionary sectors accounted for most of the losses on the Malaysian index .KLSE, dragging it down as much as 0.2 percent.
Resort operator Genting Malaysia Bhd GENM.KL fell as much as 2.3 percent, while Malayan Banking Bhd MBBM.KL fell 0.9 percent.
Indonesian shares .JKSE fell as much as 0.4 percent, retreating from a record high hit in the previous session, hurt by consumer discretionary stocks.
An index of the 45 most liquid stocks .JKLQ45 fell 0.7 percent.
"For Indonesia, the next big catalyst would be the fourth-quarter, full-year earnings," said Shim.
For Asian Companies click;
SOUTHEAST ASIAN STOCK MARKETS: CHANGE AT 0455
|
Current |
Previous close |
Pct Move |
Singapore |
3173.94 |
3184.57 |
-0.33 |
Bangkok |
1576.06 |
1574.97 |
0.07 |
Manila |
7333.15 |
7324 |
0.12 |
Jakarta |
5563.556 |
5592.51 |
-0.52 |
Kuala Lumpur |
1746.93 |
1750.41 |
-0.20 |
Ho Chi Minh |
725.3 |
720.47 |
0.67 |
Change this year
|
Current |
End 2016 |
Pct Move |
Singapore |
3173.94 |
2880.76 |
10.18 |
Bangkok |
1576.06 |
1542.94 |
2.15 |
Manila |
7333.15 |
6840.64 |
7.20 |
Jakarta |
5563.556 |
5296.711 |
5.04 |
Kuala Lumpur |
1746.93 |
1641.73 |
6.41 |
Ho Chi Minh |
725.3 |
664.87 |
9.08 |
Source: Reuters.com
Garment & textile sector tries to keep growth momentum
Foreign purchasers show interest in five product groups of Vietnam
Japanese investors join big real estate project in Binh Duong
Vietnam has opportunities to attract, develop the offshoring market
Nearly 600 million USD disbursed in support of agroforestry, aquatic sectors
Squid and octopus exports are expected to decrease by 2% in the first quarter of 2024
Vietnam’s imports of raw materials for animal feed production in March and first 3 months of 2024
US dollar continues gaining against Vietnamese dong, hitting exchange ceiling
Real estate market thrives, entities ready to re-enter market
DAILY: Vietnamese pepper prices increased by 1000 VND on April 16, 2024
DAILY: Vietnamese coffee prices increased by 1000 VND on April 16, 2024
In the first quarter of 2024, fertilizer exports increased sharply over the same period
Central bank to resume gold bar bidding after 11 years
Garment & textile sector tries to keep growth momentum
Plan of Hai Duong province for a period of 2021 - 2030, ...
Organize space reasonably and harmoniously, focusing on connecting Hai Duong in common development space, actively contributing to the ...Plan of Hau Giang province in a period of 2021 - 2030, ...
Sustainable forestry development program in a period of ...
12th-century ancient road unearthed at My Son Sanctuary
An ancient road dating back to the 12th century has freshly been discovered in an excavation on architectural ruins at the east side of ...Efforts made to seek UNESCO’s recognition for Con Moong ...
Vietnam Art Photo Contest and Exhibition 2024 to be held ...
Bas-relief featuring talks between Uncle Ho and soldiers ...