AGL 40.00 No Change ▼ 0.00 (0%)
AIRLINK 129.06 Decreased By ▼ -0.47 (-0.36%)
BOP 6.75 Increased By ▲ 0.07 (1.05%)
CNERGY 4.49 Decreased By ▼ -0.14 (-3.02%)
DCL 8.55 Decreased By ▼ -0.39 (-4.36%)
DFML 40.82 Decreased By ▼ -0.87 (-2.09%)
DGKC 80.96 Decreased By ▼ -2.81 (-3.35%)
FCCL 32.77 No Change ▼ 0.00 (0%)
FFBL 74.43 Decreased By ▼ -1.04 (-1.38%)
FFL 11.74 Increased By ▲ 0.27 (2.35%)
HUBC 109.58 Decreased By ▼ -0.97 (-0.88%)
HUMNL 13.75 Decreased By ▼ -0.81 (-5.56%)
KEL 5.31 Decreased By ▼ -0.08 (-1.48%)
KOSM 7.72 Decreased By ▼ -0.68 (-8.1%)
MLCF 38.60 Decreased By ▼ -1.19 (-2.99%)
NBP 63.51 Increased By ▲ 3.22 (5.34%)
OGDC 194.69 Decreased By ▼ -4.97 (-2.49%)
PAEL 25.71 Decreased By ▼ -0.94 (-3.53%)
PIBTL 7.39 Decreased By ▼ -0.27 (-3.52%)
PPL 155.45 Decreased By ▼ -2.47 (-1.56%)
PRL 25.79 Decreased By ▼ -0.94 (-3.52%)
PTC 17.50 Decreased By ▼ -0.96 (-5.2%)
SEARL 78.65 Decreased By ▼ -3.79 (-4.6%)
TELE 7.86 Decreased By ▼ -0.45 (-5.42%)
TOMCL 33.73 Decreased By ▼ -0.78 (-2.26%)
TPLP 8.40 Decreased By ▼ -0.66 (-7.28%)
TREET 16.27 Decreased By ▼ -1.20 (-6.87%)
TRG 58.22 Decreased By ▼ -3.10 (-5.06%)
UNITY 27.49 Increased By ▲ 0.06 (0.22%)
WTL 1.39 Increased By ▲ 0.01 (0.72%)
BR100 10,445 Increased By 38.5 (0.37%)
BR30 31,189 Decreased By -523.9 (-1.65%)
KSE100 97,798 Increased By 469.8 (0.48%)
KSE30 30,481 Increased By 288.3 (0.95%)

Southeast Asian stock markets closed lower on Friday ahead of a US Federal Reserve meeting next week that is likely to take a call on an interest rate increase, and the UK referendum later this month on Britain's exit from the European Union. The number of Americans filing for unemployment benefits unexpectedly fell last week, pointing to sustained strength in the labour market despite a sharp slowdown in hiring last month.
The health of the labour market will likely determine the timing of the next Federal Reserve interest rate increase. Fed watchers surveyed by Reuters this week saw a median 40 percent chance of a hike in July and a roughly two-in-three chance of a September move.
Britons will vote on June 23 on whether to remain part of the EU, a choice with far-reaching consequences for politics, the economy, defence and diplomacy but divergent polls have made it difficult to predict the outcome. "The markets are on tenterhooks ahead of next week's FOMC meeting. Rates may go up in July or September and markets do not like such uncertainty," said an analyst from Singapore.
"We also think Britain wouldn't want to exit the EU, but if it swings otherwise, the effects could be detrimental." Lower oil prices also dampened sentiment. The Singapore index led the losers, dragged down by oil and gas, and consumer services stocks, but managed to gain 0.5 percent on the week. The oil index lost 2 percent as a stronger dollar pulled crude off the 2016 highs hit this week.
Oil-rig firms Sembcorp Industries and Keppel Corp closed 2.4 percent and 2.1 percent lower, respectively. Indondesian stocks lost 0.6 percent, dragged down by energy and consumer cyclicals. It fell marginally on the week. Auto-distributor Astra International Tbk PT lost 3.6 percent.
Thai and Vietnam stocks fell. On a weekly basis, Thailand lost 0.5 percent, while Vietnam gained about 1.3 percent. The Philippine index reversed gains from early trade, losing 0.4 percent. Earlier, Asian shares pulled back, with MSCI's broadest index of Asia-Pacific shares outside Japan dipping 0.8 percent.

Copyright Reuters, 2016

Comments

Comments are closed.