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The Financial Express

Southeast Asian stocks slip as risk-off mood weighs

| Updated: November 27, 2017 12:16:52


Evaly and Fianancial Express Evaly and Fianancial Express
Southeast Asian stocks slip

Southeast Asian stock markets mostly lower on Friday, with the Philippines declining the most, as investors avoided riskier assets following a steep drop in Chinese shares in the previous session.

MSCI's broadest index of Asia-Pacific shares outside Japan came off a 10-year peak after the Chinese blue-chip CSI300 index posted its biggest decline in nearly a year-and-a-half, on concerns over a sustained bond selloff in China bleeding into the country's stock markets.

Philippine stocks led the losses in Southeast Asia, sliding 0.9 per cent, giving up the previous day's near 1.0 per cent gain.

Heavyweight SM Investments slipped 0.6 per cent, while telecom PLDT shed 3.1 per cent, reports Reuters.

Malaysian shares inched 0.3 per cent lower, with telecom stock DiGi.Com being the biggest drag as it retreated 4.1 per cent.

Malaysia's annual inflation rate for October came in at 3.7 per cent, missing forecasts and moderating from the previous month, data showed.

Singapore shares gained 0.3 per cent ahead of the release of the October manufacturing output data.

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