|Published : 10 Mar 2017, 13:33:30|
SE Asian stocks slip; Singapore gains
Most of the Southeast Asian stock markets fell on Friday as they braced for a US rate hike as early as next week.
Singapore shares rose nearly 1.0 per cent, led by real-estate stocks after the city-state lowered stamp duties on sale of residential properties.
CapitaLand Ltd and City Developments Ltd rose as much as 6.2 per cent and 10.20 per cent, respectively, to their highest levels since May 2015.
Broader Asian markets edged up, with MSCI's broadest index of Asia-Pacific shares outside Japan rising 0.2 per cent, but sentiment in Southeast Asia remained largely subdued.
Philippines shares and Thai stocks lost about 0.5 per cent each, with financials losing the most.
BDO Unibank Inc shed 2.4 per cent and Metropolitan Bank and Trust Co fell 2.0 per cent.
In Thailand, Group Lease PCL lost 28.5 per cent.
Indonesian shares lost 0.34 per cent, while the index of the 45 most liquid stocks fell 0.5 per cent, according to Reuters.