|Published : 17 Oct 2016, 12:06:52|
SE Asian stocks lower after Yellen comments
Southeast Asian stock markets were sluggish on Monday, in line with broader Asia as investors digested comments by US Federal Reserve Chair Janet Yellen.
MSCI's broadest index of Asia-Pacific shares outside Japan dropped 0.4 per cent.
Thai stocks were marginally higher after losing as much as 1.0 per cent in early trade.
The index declined 1.8 per cent last week on concerns about King Bhumibol Adulyadej's health. The king passed away on Thursday.
Singapore shares fell as much as 0.8 per cent in early trade after data showed September exports declined less than expected, though a grim outlook for the economy prevailed.
Losses were driven by financials and industrials, the biggest sectors on the main index. Realtors CapitaLand Commercial Trust and UOL Ltd were among the biggest losers.
Philippine stocks rose 0.3 per cent, heading for a second consecutive session of gains. Globe Telecom and Ayala Corp were among the biggest gainers, rising 2.4 per cent and 1.8 per cent respectively.
Malaysian and Vietnamese shares posted minor losses.
Indonesian shares recorded paltry gains as investors shrugged off trade data that showed exports and imports contracted on a yearly basis in September against expectations for import growth, according to a news agency report.