SE Asia Stocks-Largely down; Philippines drops on profit-taking

SE Asia Stocks-Largely down; Philippines drops on profit-taking

Last Updated: Thu, Jan 12, 2017 16:00 hrs

By Anusha Ravindranath Jan 12 (Reuters) - Philippine stocks fell for a second straight session on Thursday, led by telecom and financials as traders took profits, while most other Southeast Asian markets ended marginally lower, with Singapore easing from a fourteen-month high. Philippine shares closed 0.8 percent lower with telecom operator PLDT Inc the top loser, slipping 4.2 percent while Globe Telecom shed 2.4 percent. The market fell on profit-booking in stocks which saw a steep rise in prices in the last few sessions, said Ralph Bodollo, an equity research analyst with Manila-based RCBC Securities. The Singapore index fell from a fourteen-month peak, ending 0.3 percent lower as some of the early gains in financials were offset by losses in industrial stocks. Yangzijiang Shipbuilding Holdings lost 1.78 percent while Jardine Matheson Holdings was down 1.5 percent. Jakarta also shed early gains to finish the session lower, hurt mainly by consumer stocks. Shares of tobacco maker Hanjaya Mandala Sampoerna Tbk PT fell 1.3 percent. Vietnam shares were flat, while Thai stocks reversed gains to end the session lower. Bucking the trend, Malaysian shares rose for a third straight session and finished slightly higher after hitting their highest in four months. Financials and consumer staples added to the gains with British American Tobacco Malaysia Bhd closing 4.12 percent higher and AMMB Holdings Bhd up 0.45 percent. For Asian Companies click; SOUTHEAST ASIAN STOCK MARKETS STOCK MARKETS Change on day Market Current Previous Pct Move Close Singapore 2993.00 3000.94 -0.26 Bangkok 1568.84 1572.93 -0.26 Manila 7264.55 7321.82 -0.78 Jakarta 5292.75 5301.237 -0.16 Kuala Lumpur 1677.76 1675.21 0.15 Ho Chi Minh 686.96 687.16 -0.03 Change so far this year Market Current End 2016 Pct Move Singapore 2993.00 2880.76 3.90 Bangkok 1568.84 1542.94 1.68 Manila 7264.55 6840.64 6.2 Jakarta 5292.75 5296.711 -0.07 Kuala Lumpur 1677.76 1641.73 2.19 Ho Chi Minh 686.96 664.87 3.32 (Reporting by Anusha Ravindranath in Bengaluru; Editing by Vyas Mohan)



More from Sify: