|Published : 13 Apr 2017, 13:38:04|
SE Asian stocks subdue ahead of long holiday-weekend
Southeast Asia stocks markets were subdued on Thursday ahead of the long holiday-weekend. Singapore shares fell as the central bank cautioned about the global economic growth.
The Monetary Authority of Singapore held policy steady as expected, saying a "neutral" stance will be needed for an extended period to support an economy that contracted in the first quarter.
Singapore shares fell as much as 0.8 per cent, with financials accounting for more than half the losses.
Malaysian shares fell as much as 0.5 per cent, clocking its biggest intraday percentage drop in nearly two weeks, dragged by financials and consumer staples.
CIMB Group Holdings Bhd lost 1.8 per cent, while Genting Bhd was down 1.8 per cent.
Vietnam rose 0.2 per cent, helped by real estate stocks, with Vingroup JSC adding 1.6 per cent.
Markets in Thailand and Philippines were closed for a public holiday, according to Reuters.