By Sindhu Chandrasekaran
Nov 24 (Reuters) - Southeast Asian stock markets were flat
to lower as investors turned risk-averse after positive U.S.
economic data and minutes from a Federal Reserve meeting
increased the likelihood of an interest rate hike next month.
New orders for U.S. manufactured capital goods rebounded in
October, the latest indication of an acceleration in economic
growth early in the fourth quarter. Consumer sentiment also
jumped in November in the wake of Trump's election.
Minutes from the U.S. Fed's Nov.1-2 meeting, released on
Wednesday, showed policymakers were confident that a
strengthening economy was enough to warrant interest rate
The Fed meeting shows a 100 percent chance of a rate hike
next month, said Joseph Roxas, an analyst at Manila-based Eagle
The rate increase and a better economy are starting to bring
money back to the U.S. market and that money is probably coming
from emerging markets such as the Philippines and the rest of
Asia, he said.
Indonesia fell more than 1 percent to 5,148.60 as of
0500 GMT, dragged down by financials, with index heavyweight PT
Bank Mandiri (Persero) Tbk shedding 3.4 percent.
"We expect the JCI (Jakarta Composite Index) to experience
profit-taking within the range of 5,185-5,230," Trimegah
Securities said in a note.
Malaysia fell 0.4 percent after rising for three
straight sessions, led lower by consumer cyclicals and
Entertainment firm Genting Bhd slid 0.9 percent,
while IHH Healthcare Berhad fell 0.6 percent.
Vietnam lost 0.6 percent, snapping three sessions of
gains, with industrials leading the losses. Faros Construction
Corporation fell 5.8 percent, while electric lighting
fixtures manufacturer CII Bridges and Roads Investment
dropped 6.5 percent.
Thailand was down slightly, while the Philippine
index was flat.
Singapore cut losses after falling as much as 0.9
percent in early trade as the government slashed its economic
growth outlook and exports forecasts for 2016 after the economy
contracted in the third quarter.
In Asia, MSCI's broadest index of Asia-Pacific shares
outside Japan pulled back from a 12-day high
scaled the previous day to lose 0.5 percent.
For Asian Companies click;
SOUTHEAST ASIAN STOCK MARKETS
Market Current Previous Pct Move
Singapore 2838.24 2839.69 -0.05
Bangkok 1494.68 1496.36 -0.11
Manila 6839.78 6836.64 0.05
Jakarta 5148.603 5211.996 -1.22
Kuala Lumpur 1624.37 1630.38 -0.37
Ho Chi Minh 679.34 683.16 -0.56
Change so far
Market Current End 2015 Pct Move
Singapore 2838.24 2882.73 -1.54
Bangkok 1494.68 1288.02 16.04
Manila 6839.78 6952.08 -1.62
Jakarta 5148.603 4593.008 12.10
Kuala Lumpur 1624.37 1692.51 -4.03
Ho Chi Minh 679.34 579.03 17.32
(Reporting by Sindhu Chandrasekaran; Editing by Biju