BANGKOK: Stocks in the Philippines slid on Thursday as investors trimmed holdings in interest rate-sensitive stocks before the central bank's decision on interest rates, while shares in Indonesia retreated from a one-week high after late selling.
The Philippine main index finished down 0.5 percent
at 6,315.69, the lowest since Feb. 25. Shares of Metropolitan
Bank & Trust Co and Robinsons Land Corp were
among underperformers.
The Philippine central bank kept its overnight borrowing
rate at a record low of 3.5 percent for the eleventh
straight meeting, as expected. It raised banks' reserve
requirement ratio 1 percentage point.
The interest rate decision came after the stock market
close.
Indonesia's main index closed down 0.1 percent amid
selling in recent gainers. Bank Danamon Indonesia
shares dropped 3.6 percent after a rise early in the week and
were among the top losers.
Dividend-yielding stocks outperformed, led by a 2 percent
gain in shares of Perusahaan Gas Negara amid
expectations of its strong dividend payouts.
Thai shares snapped two days of gains, ending down
0.3 percent. Large caps which rallied early in the week on
institutional-led buying mostly fell, including Siam Commercial
Bank and Advanced Info Service.
SOUTHEAST ASIAN STOCK MARKETS
Change on day
Market Current Prev Close Pct Move
TR SE Asia Index* 403.19 403.13 +0.02
Singapore 3162.46 3143.32 +0.61
Kuala Lumpur 1846.87 1839.14 +0.42
Bangkok 1355.95 1360.44 -0.33
Jakarta 4723.06 4728.24 -0.11
Manila 6315.69 6348.50 -0.52
Ho Chi Minh 590.14 588.06 +0.35
Change on year
Market Current End 2013 Pct Move
TR SE Asia Index* 403.19 388.37 +3.82
Singapore 3162.46 3167.43 -0.16
Kuala Lumpur 1846.87 1866.96 -1.08
Bangkok 1355.95 1298.71 +4.41
Jakarta 4723.06 4274.18 +10.50
Manila 6315.69 5889.83 +7.23
Ho Chi Minh 590.14 504.63 +16.95
* The Thomson Reuters South East Asia Index is a
highly representative indicator of stocks listed in Indonesia,
Malaysia, the Philippines, Singapore, Thailand and Vietnam.- Reuters
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