By Suhail Hassan Bhat
Sept 23 (Reuters) - Southeast Asian stock markets were flat
to lower on Friday, as investors booked profits on recent
gainers after the U.S. Federal Reserve left interest rates
unchanged and the Bank of Japan overhauled its monetary policy
earlier this week.
Thai shares fell about 1 percent, underperforming
other markets in the region, and were headed for their second
session of declines in nine in thin trading.
Bank, energy and property stocks led the losses. Siam
Commercial Bank Pcl fell 1.3 percent, while oil
conglomerate PTT Pcl dropped 0.59 percent.
Markets in Southeast Asia are experiencing a technical
correction given that it is a Friday, said Mikey Macainag, an
analyst with Manila-based Sunsecurities Inc, adding that
investors were also factoring in the U.S. presidential
Indonesian shares were down after two consecutive
sessions of gains, hurt by financial and consumer discretionary
stocks. Automotive conglomerate PT Astra International
fell 1.71 percent, while PT Bank Negara Indonesia (Persero) Tbk
declined nearly 1 percent.
Since the rate cut by the Bank Indonesia has already been
factored in over the last couple of days, there could be some
profit-taking in stocks that have rallied this week, PT Trimegah
Sekuritas Indonesia said in a note.
The central bank on Thursday escalated its efforts to spur
lending by cutting its benchmark interest rate for the fifth
time this year.
Philippine shares were on track to snap four
consecutive days of gains with industrials and financials
leading the decline. JG Summit Holdings dropped as much
as 3.8 percent.
The country's central bank kept its policy interest rates
unchanged on Thursday as expected, and lowered its inflation
forecast slightly for the year.
Singapore shares were marginally down, heading for
their third straight session of falls, ahead of August inflation
data scheduled later in the day.
Vietnam and Malaysia markets were almost
For Asian Companies click;
SOUTHEAST ASIAN STOCK MARKETS
Change at 0355 GMT
Market Current Previous Close Pct Move
Singapore 2844.17 2846.06 -0.07
Bangkok 1491.66 1505.99 -0.95
Manila 7709.44 7762.35 -0.68
Jakarta 5374.716 5380.262 -0.10
Kuala Lumpur 1669.09 1669.66 -0.03
Ho Chi Minh 671.05 671.38 -0.05
Change this year
Market Current End 2015 Pct Move
Singapore 2844.17 2882.73 -1.34
Bangkok 1491.66 1288.02 15.81
Manila 7709.44 6952.08 10.89
Jakarta 5374.716 4593.008 17.02
Kuala Lumpur 1669.09 1692.51 -1.38
Ho Chi Minh 671.05 579.03 15.89
(Reporting by Suhail Hassan Bhat; Editing by Subhranshu Sahu)