BANGKOK, Oct 4 (Reuters) - Philippine shares edged lower on
Friday as investors fretted over higher-than-expected inflation
in September, while Indonesia retreated from three sessions of
gains on caution ahead of foreign exchange reserves data due
later in the day.
The Philippine main index fell 0.2 percent, having
climbed over the past three days, boosted by Moody's sovereign
rating upgrade and after the Asian Development Bank raised its
growth forecast for the country.
The benchmark is set to end the week a tad lower, a second
straight week of declines.
Philippine annual inflation rose more-than-expected to 2.7
percent in September, while the central bank governor said the
monetary policy remained appropriate and inflation was expected
to remain manageable for the foreseeable future.
Indonesia's index slipped 0.8 percent as investors
took profits in shares such as Bank Rakyat Indonesia
and Semen Indonesia.
Citi Research expected the market to remain volatile in the
near-term, until economic data improved.
"Although the market could see short-term volatility, we
remain positive in the medium term despite the upcoming
election. Our economist expects the current account deficit to
improve in the third quarter," Citi said in a report dated Oct.
Indonesia is expected to hold general elections in 2014.
Several markets in the region saw light sessions and are
heading for a second week of losses, including Indonesia and
Singapore, amid rising risk aversion associated with the partial
government shutdown in the United States.
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SOUTHEAST ASIAN STOCK MARKETS
Change at 0625 GMT
Market Current Prev Close Pct Move
TR SE Asia Index* 409.04 409.74 -0.17
Singapore 3139.58 3144.79 -0.17
Kuala Lumpur 1774.30 1771.37 +0.17
Bangkok 1423.72 1429.18 -0.38
Jakarta 4384.57 4418.64 -0.77
Manila 6380.26 6387.65 -0.12
Ho Chi Minh 497.73 492.30 +1.10