SE Asian stocks mixed

Dhaka,  Monday,   2016-09-16
Published : 16 Sep 2016, 13:56:45

SE Asian stocks mixed

SE Asian stocks mixed
Most Southeast Asian stocks were mixed on Friday as the prospects of a rate hike by the Federal Reserve receded further on weak US retail data.

Philippine shares fell 1.4 per cent, erasing gains from the previous session, while other markets in region rose.

US retail sales fell more than expected in August, pointing to cooling domestic demand that further diminished expectations of a rate raise next week.

Futures traders are now pricing in a 12 per cent chance of a rate increase this month, down from 15 per cent on Wednesday, according to CME Group's FedWatch tool.

Consumer price inflation data, due later in the day, is the next test for rates-focused traders.

Singapore shares gained 0.8 per cent, heading for their first rise in four sessions, driven by energy and financial stocks.

Keppel Corp Ltd was up 1.2 per cent, while DBS Group Holdings Ltd rose 1.4 per cent.

Thai stocks gained marginally, with telecom and energy shares leading. Advanced Info Service Pcl rose 1.6 per cent while PTT Pcl was up 1.2 per cent.

Bucking the trend, Philippine shares dropped 1.4 per cent, snapping Thursday's 2.2 per cent gain, dragged down by consumer cyclicals and financials.

SM Investments Corp fell 2.4 per cent while Bank of the Philippine Islands dropped 3.6 per cent.

Malaysia was closed for a public holiday, according to a news agency report.

-SRS-
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