Reuters: Financial Services and Real Estate: SE Asia Stocks-Mostly weaker ahead of U.S data

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SE Asia Stocks-Mostly weaker ahead of U.S data Mar 28th 2012, 10:07 Wed Mar 28, 2012 6:07am EDT * Malaysia, Indonesia, Philippines see continuous inflows * Jakarta bucks trend; banks help index gain By Shihar Aneez BANGKOK, March 28 (Reuters) - Most Southeast Asian stock markets edged down on Wednesday in moderate volumes looking for more clues in the economic data from the U.S. after rallying on hopes of further stimulus from the Federal Reserve. Investors remained cautious in buying the region's risky assets ahead of U.S. durable goods orders data for February, due later in the day after comments on Tuesday by Fed chief Ben Bernanke fueled investor bets for further U.S. monetary stimulus. Fed Chairman Ben Bernanke said on Tuesday it was too soon to declare victory in the U.S. economic recovery, warning against complacency in policymaking as the outlook brightens. "Markets consolidated after the rally," said Pichai Lertsupongkij, head of investment advisory services at broker Thanachart Securities in Bangkok. "More clues are on the U.S. data, which is the key at the moment." Thailand edged down 0.4 percent from its near 16-year closing high, Malaysia lost 0.3 percent, the Philippines drifted down 0.2 percent, and Singapore edged down 0.1 percent. Indonesia bucked the trend with 0.3 percent gain to a fresh eight-month high, while Vietnam, the region's smallest bourse, ended 0.1 percent higher. MSCI's broadest index of Asia Pacific shares outside Japan was trading down 0.3 percent at 0935 GMT. Foreign inflows continued into the region, with Malaysia, Indonesia, and the Philippines enjoying $43.2 million, $46.3 million, and $20.3 million respectively on Wednesday. Those inflows extended the total foreign net buying into Malaysia to 689.1 million Malaysian ringgit ($225.42 million) for the first three days of the week, while Indonesia and the Philippines saw net foreign buying of $137.5 million and $48.82 million respectively. Thailand received a foreign inflow of 3,567.51 million Thai baht ($116.24 million) in the first two days. Financials pulled down the Thai shares with Thailand's biggest lender, Bangkok Bank Pcl, and Kasikornbank Pcl , falling 1.3 percent each. Lertsupongkij, however, said the market will recover due to Thailand central bank's inclination to further reduction in the interest rates to boost economic growth. "The (Thai) bond market has reached its peak and investors are now rebalancing their portfolios to risky assets, which means they will invest a considerable amount in equities." Thailand's central bank chief on Wednesday said there was no factor that would push interest rates higher until at least the third quarter, when manufacturing was expected to fully recover from devastating flooding late last year. In Singapore, rig builder Keppel Corp Ltd bucked the trend with a 0.6 percent gain after announcing a rig deal worth $315 million. Jakarta saw banking shares pushing the shares higher with 2.2 percent gain in Indonesia's biggest lender Bank Mandiri . (Editing by Matt Driskill) For Asian Companies click; For Asia-Pacific News click; For South East Asia Hot Stock reports, click; SOUTHEAST ASIAN STOCK MARKETS Change on day Market Current Prev Close Pct Move Singapore 3015.98 3018.91 -0.10 Kuala Lumpur 1583.75 1588.10 -0.27 Bangkok 1202.75 1205.80 -0.38 Jakarta 4090.57 4079.38 +0.27 Manila 5067.66 5078.10 -0.21 Ho Chi Minh 446.32 445.92 +0.09 Change on year Market Current End prev yr Pct Move Singapore 3015.98 2646.35 +13.97 Kuala Lumpur 1583.75 1530.73 +3.46 Bangkok 1202.75 1025.32 +17.30 Jakarta 4090.57 3821.99 +7.03 Manila 5067.66 4371.96 +15.91 Ho Chi Minh 446.32 351.55 +26.96 Stock Market Volume (shares) Market Current Volume Average Volume 30 days Singapore 203,955,300 343,038,853 Kuala Lumpur 105,047,900 148,950,533 Bangkok 4,949,596 5,187,812 Jakarta 3,073,244,000 2,749,853,933 Manila 114,582 139,536 Ho Chi Minh 82,026 82,289 ($1 = 3.0570 Malaysian ringgit) Link this Share this Digg this Email Reprints

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