AGL 40.00 No Change ▼ 0.00 (0%)
AIRLINK 127.20 Increased By ▲ 0.16 (0.13%)
BOP 6.62 Decreased By ▼ -0.05 (-0.75%)
CNERGY 4.48 Decreased By ▼ -0.03 (-0.67%)
DCL 8.58 Increased By ▲ 0.03 (0.35%)
DFML 41.72 Increased By ▲ 0.28 (0.68%)
DGKC 87.40 Increased By ▲ 0.55 (0.63%)
FCCL 32.35 Increased By ▲ 0.07 (0.22%)
FFBL 64.99 Increased By ▲ 0.19 (0.29%)
FFL 10.23 Decreased By ▼ -0.02 (-0.2%)
HUBC 109.49 Decreased By ▼ -0.08 (-0.07%)
HUMNL 14.70 Increased By ▲ 0.02 (0.14%)
KEL 5.08 Increased By ▲ 0.03 (0.59%)
KOSM 7.61 Increased By ▲ 0.15 (2.01%)
MLCF 41.40 Increased By ▲ 0.02 (0.05%)
NBP 59.50 Decreased By ▼ -0.91 (-1.51%)
OGDC 192.40 Increased By ▲ 2.30 (1.21%)
PAEL 28.15 Increased By ▲ 0.32 (1.15%)
PIBTL 7.78 Decreased By ▼ -0.05 (-0.64%)
PPL 151.26 Increased By ▲ 1.20 (0.8%)
PRL 26.35 Decreased By ▼ -0.53 (-1.97%)
PTC 16.15 Increased By ▲ 0.08 (0.5%)
SEARL 83.50 Decreased By ▼ -2.50 (-2.91%)
TELE 7.79 Increased By ▲ 0.08 (1.04%)
TOMCL 35.48 Increased By ▲ 0.07 (0.2%)
TPLP 8.10 Decreased By ▼ -0.02 (-0.25%)
TREET 16.05 Decreased By ▼ -0.36 (-2.19%)
TRG 53.15 Decreased By ▼ -0.14 (-0.26%)
UNITY 26.29 Increased By ▲ 0.13 (0.5%)
WTL 1.26 No Change ▼ 0.00 (0%)
BR100 9,985 Increased By 101.4 (1.03%)
BR30 31,147 Increased By 547.3 (1.79%)
KSE100 94,188 Increased By 832.7 (0.89%)
KSE30 29,173 Increased By 241.9 (0.84%)

Most Southeast Asian stock markets closed lower on Wednesday as investors anxiously awaited a couple of US Federal Reserve events for clues on further rate cuts, while Thai shares gained on strong export data. Market participants looked forward to the minutes of the Fed's July meeting due later in the day and the annual Jackson Hole seminar later this week for hints on what additional steps policymakers will take to boost economic growth.
Worries of a sharp economic slowdown have compounded as the Sino-US trade war shows no signs of abating. US President Donald Trump said on Tuesday a confrontation with China was necessary even if it caused short-term harm to the US economy. Indonesian shares fell 0.7% ahead of a central bank policy meeting on Thursday, with financials accounting for most of the losses.
Bank Indonesia is expected to keep key interest rates on hold, a Reuters poll showed, as recent market volatility rooted in worries about global growth will likely delay further cuts on top of the one in July. Bank Rakyat Indonesia (Persero) Tbk PT slipped 1.2% and Bank Mandiri (Persero) Tbk PT lost 2%.
Singapore stocks declined, dragged by financials and industrials. Lender DBS Group Holdings Ltd fell 0.5% and conglomerate Jardine Strategic Holdings Ltd slipped 1.5%. Fitch Ratings said Singapore would be among the Asian developed markets that would be hit the hardest by a sharp economic slowdown in China, given its close trade links with the mainland.
Thai stocks gained 0.8% as investors cheered data showing customs-cleared exports unexpectedly rose in July for the first time in five months. The data comes a day after Thailand's finance ministry cut its 2019 economic growth forecast to 3.0% from 3.8% projected in April, due to falling exports. Nomura Holdings maintained its 2019 growth guidance at 3.0% and said "the Bank of Thailand will also likely revise its GDP growth forecast" and "follow up with another 25 basis point policy rate cut next month, taking the policy rate to a historical low of 1.25%."
Vietnam shares gained, supported by financial and real estate stocks, with Joint Stock Commercial Bank for Foreign Trade of Viet Nam adding 4%. The Philippine market was closed for a holiday.

Copyright Reuters, 2019

Comments

Comments are closed.