SE Asia Stocks-Fall as Yellen comments dampen sentiment

Last Updated: Mon, Oct 17, 2016 15:40 hrs

Oct 17 (Reuters) - Most Southeast Asian stock markets fell on Monday, in line with broader Asia, as investors digested comments by U.S. Federal Reserve Chair Janet Yellen. Yellen said on Friday the Fed may need to run a "high-pressure" economy in order to reverse damage from the global financial crisis that depressed output. Her remarks, however, did not address immediate policy concerns directly and didn't change prevailing views that the Fed is likely to raise interest rates in December. MSCI's broadest index of Asia-Pacific shares outside Japan dropped 0.6 percent. Philippine stocks closed 0.4 percent lower after rising as much as 0.5 percent earlier in the session. Financials and utilities were the biggest losers, with Manila Electric and realtor SM Prime Holdings shedding the most. Indonesian shares ended 0.2 percent higher, driven by energy and telecom stocks. Indonesia's statistics bureau raised its exports figure for August to $12.75 billion from $12.63 billion, making August the first month in nearly two years in which there was an annual increase in exports. Earlier on Monday, the bureau said the economy had a trade surplus of $1.22 billion in September as exports and imports contracted, against expectations for import growth. Indonesia has had a trade surplus every month this year. Thai stocks ended flat, having fallen as much as 1 percent in early trades. The index declined 1.8 percent last week on concerns about King Bhumibol Adulyadej's health. The king passed away on Thursday. Foreigners were net sellers in the previous four sessions. They also cut their holdings in Thai bonds during the period, according to data from the Thai Bond Market Association. Singapore shares closed almost flat, after declining as much as 0.8 percent in early trades following data that showed September exports declined less than expected, though a grim outlook for the economy prevailed. Malaysian shares lost 0.3 percent, while Vietnam fell 0.9 percent, dragged down by energy stocks including Petrovietnam Gas Joint Stock Corp. For Asian Companies click; SOUTHEAST ASIAN STOCK MARKETS STOCK MARKETS Change on day Market Current Previous Pct Move Close Singapore 2817.07 2815.24 0.07 Bangkok 1477.34 1477.61 -0.02 Manila 7358.21 7389.3 -0.42 Jakarta 5410.303 5399.885 0.19 Kuala Lumpur 1653.71 1658.97 -0.32 Ho Chi Minh 680.95 687 -0.88 Change on year Market Current End 2015 Pct Move Singapore 2817.07 2882.73 -2.28 Bangkok 1477.34 1288.02 14.70 Manila 7358.21 6952.08 5.84 Jakarta 5410.303 4593.008 17.79 Kuala Lumpur 1653.71 1692.51 -2.29 Ho Chi Minh 680.95 579.03 17.60 (Reporting by Rushil Dutta in Bengaluru; Additional reporting by Jong Woo Cheon in Singapore; Editing by Subhranshu Sahu)

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