SE Asia Stocks-Fall ahead of U.S. inflation data
* U.S. inflation data due later on Tuesday
* Stocks give up some of Monday's gains
* Indonesian benchmark biggest loser in the region
By Aaron Saldanha
March 13 (Reuters) - Most Southeast Asian stock markets fell
on Tuesday, in line with Asian peers, as investors worried that
a higher-than-expected U.S. inflation print would hasten the
Federal Reserve into pressing ahead with a rate increase as
early as next week.
Consumer price inflation data for February is due later in
the global day, and follows low wage growth numbers last week,
which eased concerns about inflation and over a faster pace of
rate hikes by the central bank.
Higher U.S. rates reduce the attractiveness of riskier asset
classes like equities in growth markets such as Southeast Asia,
due to the improved yields for safer, U.S. assets.
"It is people being risk-averse ahead of anticipated results
(economic data), so not only is it the U.S. inflation report but
also China's production numbers as well as their retail
activity," said Fio Dejesus, equity research analyst at RCBC
Securities in Manila.
Chinese industrial output and retail sales data for February
are due on Wednesday.
In Southeast Asia, Indonesia's benchmark fell 0.7
percent on broad-based losses. Telekomunikasi Indonesia
lost as much as 1.9 percent.
An index of the country's 45 most liquid stocks
fell as much as 1 percent.
Malaysian shares inched lower, with consumer
discretionary and telecom stocks dragging down the index.
Genting Malaysia Bhd, down 1.7 percent, contributed
the most to index losses.
The Philippine index fell 0.4 percent, hurt by
weakness in financials and real estate stocks. BDO Unibank Inc
slid 2.5 percent.
Thai shares moved into negative territory after
ending higher for the first session in nine on Monday. PTT Pcl
weighed the most on the benchmark, slipping 0.4
percent.
The Singapore index rose slightly, helped by gains in
Capitaland Mall Trust and DBS Group Holdings Ltd
, which were up 0.5 percent and 0.9 percent,
respectively.
Asia-shares outside Japan, which surged 1.5
percent on Monday, were nearly unchanged.
For Asian Companies click;
SOUTHEAST ASIAN STOCK MARKETS: CHANGE AT 0344 GMT
Market Current Previous close Pct Move
Singapore 3541.47 3540.19 0.04
Bangkok 1798.31 1800.32 -0.11
Manila 8421.03 8453.5 -0.38
Jakarta 6454.132 6500.686 -0.72
Kuala Lumpur 1858.97 1861.22 -0.12
Ho Chi Minh 1124.9 1126.29 -0.12
Change on year
Market Current End 2017 Pct Move
Singapore 3541.47 3402.92 4.07
Bangkok 1798.31 1753.71 2.54
Manila 8421.03 8558.42 -1.61
Jakarta 6454.132 6355.654 1.55
Kuala Lumpur 1858.97 1796.81 3.46
Ho Chi Minh 1124.9 984.24 14.29
(Reporting by Aaron Saldanha in Bengaluru; Editing by Biju
Dwarakanath)