July 28 (Reuters) - Most Southeast Asian stocks were lower
on Thursday, in line with Asian peers, as investors turned
cautious ahead of a meeting by the Bank of Japan as it faces
political pressure to support Shinzo Abe's bigger-than-expected
fiscal spending package.
Japan's economy minister called on the central bank to work
with the government to boost growth after the Japanese Prime
Minister sent a "powerful message" by announcing a 28 trillion
yen ($267 billion) stimulus package on Wednesday. urn:newsml:reuters.com:*:nL4N1AE1A4
"Markets are watching out for BOJ's reaction in relation to
the announcement as there is no pre-commitment to anything
specific yet," said Vishnu Varathan of the Singapore-based
Mizuho Corporate Bank.
"Nikkei's softer footing has also had an influence on the
Japan's Nikkei fell nearly 1 percent, undermined by a
stronger yen and nerves before the BoJ's monetary policy
decision on Friday. MKTS/GLOB
Asian stocks were mostly lower on Thursday as Chinese
equities deepened their losses, souring risk sentiment that had
improved earlier after the Federal Reserve provided a positive
assessment of the U.S. economy.
The Fed left interest rates unchanged on Wednesday but said
near-term risks to the U.S. economic outlook had diminished.
Philippines .PSI lost 1.2 percent, dragged down by
consumer staples and utilities.
Infrastructure group Aboitiz Equity Ventures AEV.PS and
food-to-petrochemicals conglomerate JG Summit Holdings JGS.PS
were among the top losers on the index.
Markets are falling on profit-taking as a lot of large-cap
stocks have posted gains, and there are no local catalysts
holding the market, said Grace Aller, an analyst with
Manila-based AP Securities.
Singapore stocks .STI were trading nearly 1 percent lower
as labour market data showed the unemployment rate rose to 2.1
percent in the second quarter, at levels last seen in the first
quarter of 2014. urn:newsml:reuters.com:*:nS7N196000
Malaysian stocks .JKSE fell 0.5 percent, led by consumer
cyclicals and consumer staples.
Casino operator Genting Bhd GENT.KL , the biggest loser on
the index, fell 5.3 percent.
Jakarta .JKSE and Vietnam .VNI fell marginally, while
Thai stocks .SETI inched up.
For Asian Companies click; urn:newsml:reuters.com:*:nTOPEQA
SOUTHEAST ASIAN STOCK MARKETS
Change at 0500
Market Current Previous Pct Move
Singapore 2912.73 2941.49 -0.98
Bangkok 1517.48 1515.4 0.14
Manila 8000.19 8100.48 -1.24
Jakarta 5268.676 5274.361 -0.11
Kuala Lumpur 1654.83 1663.56 -0.52
Ho Chi Minh 653.65 656.11 -0.37
Change on year
Market Current End 2015 Pct Move
Singapore 2912.73 2882.73 1.04
Bangkok 1517.48 1288.02 17.81
Manila 8000.19 6952.08 15.08
Jakarta 5268.676 4593.008 14.71
Kuala Lumpur 1654.83 1692.51 -2.23
Ho Chi Minh 653.65 579.03 12.89
(Reporting by Hanna Paul; Editing by Biju Dwarakanath)
Keywords: SOUTHEAST ASIA STOCKS/