SE Asia Stocks-Most fall in line with Asia; Philippines drops 1.5 pct
By Chris Thomas
Dec 15 (Reuters) - Most Southeast Asian stock markets fell
in line with Asian peers on Friday, tracking weakness on Wall
Street over concerns about potential roadblocks to U.S. tax
reform.
Congressional Republicans reached a deal on final tax
legislation, but the conservative party faces opposition from
within as some Senators remained unsettled about their support
for the bill.
MSCI's broadest index of Asia-Pacific shares outside Japan
was down 0.4 percent.
Philippine shares were the biggest losers in
Southeast Asia with a drop of 1.5 percent, their biggest since
Nov. 3, but finished the week higher for a second time in a row.
Property developer SM Prime Holdings was the
biggest drag, sliding 4.8 percent in its biggest daily drop in
nearly a year.
Singapore shares fell for a second straight session,
closing at their lowest since Dec. 7, and finished the week 0.2
percent softer.
Financials accounted for most of the decline, with lenders
DBS Group and United Overseas Bank Ltd
shedding 1.6 percent and 1.4 percent, respectively.
Real estate stocks also added to the drop, with data showing
sale of private homes by developers in Singapore fell 8.7
percent in November from a year earlier.
Malaysian shares settled 0.3 percent lower, dragged
by consumer discretionary and consumer staples stocks, but ended
the week 1.9 percent higher, their best since January.
Conglomerate Genting Bhd was the top loser on
Friday, declining 2.8 percent.
Thai shares recovered to settle 0.2 percent firmer
in some last-minute buying, and posted their third straight
weekly gain.
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SOUTHEAST ASIAN STOCK MARKETS
Change on day
Market Current Previous close Pct Move
Singapore 3416.94 3435.78 -0.55
Bangkok 1717.69 1714.99 0.16
Manila 8337.04 8461.06 -1.47
Jakarta 6119.419 6113.653 0.09
Kuala Lumpur 1753.07 1759 -0.34
Ho Chi Minh 935.16 935.85 -0.07
Change on year
Market Current End 2016 Pct Move
Singapore 3416.94 2880.76 18.61
Bangkok 1717.69 1542.94 11.33
Manila 8337.04 6840.64 21.88
Jakarta 6119.419 5296.711 15.53
Kuala Lumpur 1753.07 1641.73 6.78
Ho Chi Minh 935.16 664.87 40.65
(Reporting by Chris Thomas in Bengaluru; Editing by Subhranshu
Sahu)