South Asia Stocks-Philippines, Indonesia down more than 1 pct; Fed decision expected

      * Philippines sees the best month in over 2 years
* Malaysia extends gains at seventh consecutive session

By Syed Saif Hussain Naqvi
July 31 (Reuters) - Philippine and Indonesian stocks tumbled
more than 1 percent Tuesday while most other markets in the
region edged up after the Bank of Japan maintained its
accommodative monetary position, but gains were limited on prudence
before the US Federal Reserve policy meeting.
The Bank of Japan announced Tuesday that it would maintain interest rates
"very low" at the moment and has taken steps to make its
massive stimulus program more flexible.
Investors around the world are watching the results closely
of the US Federal Reserve policy meeting Wednesday where he is
should keep key rates unchanged.
"The key factor right now is the normalization of policies in the
United States with tightening Fed key rates, while the ECB and
Bank of Japan further eases monetary policies
Joel Ng, an analyst
at KGI Securities.
Indonesian equities fell 1.5%, ending the
winning sequence of seven sessions, after the biggest
telecommunications player Perusahaan Perseroan (Persero) PT Telekomunikasi
Indonesia Tbk recorded a decrease in half-year net income.

Meanwhile, the data showed exports and production of
Palm oil fell in June from a month earlier.
Filipino shares ended a five-day series and wins
closed 1.3 percent lower, dragged by financiers. L & # 39; s index,
however, posted its largest monthly increase since March 2016.
Malaysian stocks raised their earnings to a seventh
session right and finished 0.8 percent more than investors
ruled out data on exports of lower palm oil products for July. the
The index recorded its biggest monthly gain since October 2011.
Malaysian palm oil products exports fell 3.9 in July
percent to 1 million tonnes shipped compared to 1.1 million tonnes
tons shipped in June.
Singapore rose 0.4%, under the impetus of
industrial stocks.
"The growth of bank loans in Singapore has accelerated unexpectedly
5.5% yoy in May to 5.9% yoy in June. That beat our
expectations for moderation in June, and scored the fastest
growth of bank loans since November 2017, "OCBC Treasury
The research said in a note.
Bellwethers Financial Oversea-Chinese Banking Corp
, United Overseas Bank and DBS Group Holdings
, all have won ahead of the profits.


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SOUTH-EAST ASIAN STOCK MARKETS
STOCK MARKETS
Change on the
day
Current market previous Pct Move
To close
Singapore 3319.85 3307.15 0.38
Bangkok 1701.79 1701.87 0.00
Manila 7672 7773.32 -1.30
Jakarta 5936.443 6027.936 -1.52
Kuala Lumpur 1784.25 1770.26 0.79
Ho Chi Minh 956.39 949.73 0.70

Change the year
Current Market End 2017 Pct Move
Singapore 3319.85 3402.92 -2.44
Bangkok 1701.79 1753.71 -2.96
Manila 7672 8,558.42 -10.36
Jakarta 5936.443 6355.654 -6.60
Kuala Lumpur 1784.25 1796.81 -0.70
Ho Chi Minh 956.39 984.24 -2.83



(Report by Syed Saif Hussain Naqvi in ​​Bengaluru;
Vyas Mohan)