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The Financial Express
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SE Asian stocks subdue; Vietnam hits 10-yr high

| Updated: November 09, 2017 12:58:11


Southeast Asian stocks mute

Southeast Asian stock markets were mostly muted on Wednesday, with Indonesia slipping from a record close, as investors took a breather in the absence of market-moving data.

However, Vietnam stocks firmed to hit a fresh near decade high, while Singapore held on to two-year highs, reports Reuters.

Indonesian stocks slumped 0.3 per cent from a record close, dragged by the telecommunications sector, with Perusahaan Perseroan PT Telekomunikasi Indonesia Tbk, down 1.7 per cent.

Singapore index was largely flat, with real estate giant CapitaLand Ltd down 1.1 per cent and Keppel Corp Ltd giving up 0.9 per cent.

Philippine stocks edged 0.3 per cent lower, with industrial stocks accounting for majority of the losses, as SM Investments Corp slumped 2.8 per cent, and JG Summit HoldingS dropped 1.2 per cent.

Real estate stock Ayala Land was the biggest drag on the index, declining 2.0 per cent. Manila-based RCBC Securities analyst Fio De Jesus attributed the stock's move to profit-taking after it rose 1.3 per cent in its previous session on strong nine-month earnings.

Thai shares pared early gains in the session to trade down 0.1 per cent ahead of the Bank of Thailand's rate decision due later in the day.

Vietnam shares gained 0.9 per cent, with real estate developer Vingroup Joint Stock Company climbing 4.7 per cent to an all-time peak.

 

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