By Karthika Suresh Namboothiri
Nov 13 (Reuters) - Most Southeast Asian stock markets gave
up early gains on Monday to close lower on uncertainty over a
U.S. tax reform deal, while Vietnam shares closed at their
highest in nearly a decade.
World stock markets moved further away from recent record
highs as U.S. Senate Republicans unveiled a new tax plan that
differs from the House of Representatives' version and there are
few signs of a compromise.
"Digesting tax reform banter is an unsavoury business as
even the ambient noise is triggering unusual moves across asset
classes," Stephen Innes, head of trading in Asia-Pacific for
Oanda in Singapore, wrote in a note.
"Besides with Christmas just around the corner, investors
will be more inclined to book year-end profits, adding to
Vietnam shares extended gains into a seventh session
and closed 1.3 percent higher. They have climbed more than 32
percent so far this year, making them the region's best
Food processor Vietnam Dairy Products Joint Stock Co
was the biggest boost, rising 6.2 percent to a record
Philippine shares dropped 1.2 percent, dragged by
industrial and real estate stocks.
SM Investments Corp ended 2.8 percent lower, while
Ayala Land declined 3 percent.
The market fell on profit-booking in stocks which saw steep
rises in the last few sessions, said Fio Dejesus of Manila-based
Singapore shares closed marginally lower with gains
in industrials outweighed by losses in financials.
DBS Group Holdings Ltd was the biggest drag with a
decline of 1.1 percent.
Thai stocks dropped for a third straight session and
hit their lowest close since Oct. 19.
Airports of Thailand Public Co Ltd closed 1.3
percent lower, while Total Access Communication PCL
ended down 6.3 percent.
For Asian Companies click;
SOUTHEAST ASIAN STOCK MARKETS: CHANGE ON DAY
Market Current Previous Pct Move
Singapore 3419.13 3420.1 -0.03
Bangkok 1687.05 1689.28 -0.13
Manila 8330.02 8433.48 -1.23
Jakarta 6021.456 6021.828 -0.01
Kuala Lumpur 1737.49 1742.28 -0.27
Ho Chi Minh 879.34 868.21 1.28
Change on year
Market Current End 2016 Pct Move
Singapore 3419.13 2880.76 18.69
Bangkok 1687.05 1542.94 9.34
Manila 8330.02 6840.64 21.77
Jakarta 6021.456 5296.711 13.68
Kuala Lumpur 1737.49 1641.73 5.83
Ho Chi Minh 879.34 664.87 32.26
(Reporting by Karthika Namboothiri in Bengaluru; Editing by