BANGKOK, Feb 11 (Reuters): Southeast Asian stock markets were
range-bound on Wednesday as stocks in the Philippines extended losses a
day before its central bank meets on policy interest rates, while weak
earnings by large-caps weighed on regional sentiment.
The Philippine main index was down 0.5 per cent amid selling in recent gainers such as Petron Corp and Universal Robina Corp.
The Philippine central bank is expected to leave interest rates on hold on Thursday and keep policy largely unchanged until after the US Federal Reserve increases rates there.
Singapore's key index rose 0.2 per cent, with large-cap shares mixed. Global Logistic Properties was the top gainer, while Oversea-Chinese Banking Corp fell after its quarterly earnings came in below forecasts.
The Thai SET index was down 0.2 per cent. Total Access Communication Pcl dropped 2 per cent after the mobile operator missed expectations for its fourth-quarter earnings.
Brokers in Bangkok cited concerns about Greece.
Asian stock markets turned cautious on Wednesday, while the US dollar crept higher as looming euro zone meetings to discuss the Greek debt crisis threatened to produce more confusion than clarity.
"Overall, further stock market consolidation is likely, awaiting more information on Greece's debt issue," strategists at KGI Securities wrote in a report.
The Philippine main index was down 0.5 per cent amid selling in recent gainers such as Petron Corp and Universal Robina Corp.
The Philippine central bank is expected to leave interest rates on hold on Thursday and keep policy largely unchanged until after the US Federal Reserve increases rates there.
Singapore's key index rose 0.2 per cent, with large-cap shares mixed. Global Logistic Properties was the top gainer, while Oversea-Chinese Banking Corp fell after its quarterly earnings came in below forecasts.
The Thai SET index was down 0.2 per cent. Total Access Communication Pcl dropped 2 per cent after the mobile operator missed expectations for its fourth-quarter earnings.
Brokers in Bangkok cited concerns about Greece.
Asian stock markets turned cautious on Wednesday, while the US dollar crept higher as looming euro zone meetings to discuss the Greek debt crisis threatened to produce more confusion than clarity.
"Overall, further stock market consolidation is likely, awaiting more information on Greece's debt issue," strategists at KGI Securities wrote in a report.
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