|Published : 02 Dec 2016, 13:49:01|
SE Asian stocks flat to lower ahead of US payroll data
Southeast Asian stock markets were flat to lower on Friday following lacklustre US and European markets and ahead of the release of the US payrolls data later in the day.
Investors are waiting for the payrolls report for confirmation the economy continues to strengthen, with an eye on an expected hike in benchmark interest rates by the Federal Reserve.
Oil prices slipped on Friday as some investors opted to cash out after Brent touched a 16-month high on Thursday.
Singapore shares fell 0.2 per cent, heading for their first drop in nine sessions, with consumer staples leading the decline. Singapore Telecommunications Ltd dropped 1.1 per cent.
The FTSE Straits Times Index was on track for its highest weekly gain since the week ended on Sept. 9.
Vietnam shares were down 0.5 per cent after two consecutive sessions of gains, dragged down by industrials with Faros Construction Corp shedding 2.6 per cent.
Indonesia rose 0.2 per cent, heading for a fourth straight session of gains, helped by financials. Indonesian shares have climbed 1.7 per cent so far this week, according to a news agency report.