By Karthika Suresh Namboothiri
Nov 14 (Reuters) - Most Southeast Asian stock markets traded
cautiously on Tuesday, in line with broader Asia, as
disappointing Chinese economic data and worries over U.S. tax
reforms hurt risk appetite.
However, the Vietnam index rose for an eighth session in a
row, set for its longest winning streak in more than a year and
moving closer to a decade high.
China's industrial output cooled in October, while fixed
asset investment and retail sales grew at a slower-than-expected
pace, suggesting the economy may be loosing some steam as the
government cracks down on debt risks and pollution.
The world's second-largest economy is one of the biggest
trade partners of Southeast Asian nations.
"All in all, a slew of disappointing financial data indicate
that the PBOC's tightening bias and the deleverage campaign
might have taken effect in slowing economic activities," OCBC
said in a note.
MSCI's broadest index of Asia-Pacific shares outside Japan
dipped 0.2 percent.
Investors were also waiting for any signs of compromise on
U.S. tax policy after Senate Republicans unveiled a plan that
would cut corporate taxes a year later than a rival House of
In Southeast Asia, Singapore shares fell 0.5 percent,
dragged by financials and consumer staples. Wilmar International
Ltd and United Overseas Bank Ltd were the
top drags on the index, down 4.2 percent and 0.8 percent,
Agribusiness company Wilmar International fell to its lowest
in more than six weeks, after posting a 6 percent drop in
third-quarter net profit.
Vietnam shares firmed 0.4 percent, hitting a
near-decade high, with losses in food processor Vietnam Dairy
Products Joint Stock Co outweighed by gains in
financials and real estate sectors.
Philippine shares inched 0.5 percent lower and were
on track for their third consecutive session of losses, with
financials leading the decline.
BDO Unibank slipped 1.9 percent, making it the
biggest drag on the index.
Meanwhile, the Thai index inched up 0.5 percent,
snapping three consecutive session of losses, helped by gains
in telecommunication services and real estate stocks.
Malaysian shares traded largely flat, with
conglomerate Genting Berhad, down 2 percent, being the
biggest drag on the benchmark index.
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SOUTHEAST ASIAN STOCK MARKETS: CHANGE AT 0352 GMT
Change on the
Market Current Previous Pct Move
Singapore 3400.82 3419.13 -0.54
Bangkok 1695.68 1687.05 0.51
Manila 8288.88 8330.02 -0.49
Jakarta 6021.748 6021.456 0.00
Kuala Lumpur 1737.02 1737.49 -0.03
Ho Chi Minh 881.43 879.34 0.24
Change on year
Market Current End 2016 Pct Move
Singapore 3400.82 2880.76 18.05
Bangkok 1695.68 1542.94 9.90
Manila 8288.88 6840.64 21.17
Jakarta 6021.748 5296.711 13.69
Kuala Lumpur 1737.02 1641.73 5.80
Ho Chi Minh 881.43 664.87 32.57
(Reporting by Karthika Namboothiri in Bengaluru; Editing by