* Indonesian shares flat ahead of July inflation data
* Utility, consumer stocks top losers in Philippines
By Anushka Trivedi
Aug 1 (Reuters) - Philippine shares declined on Thursday,
extending falls to near five-week lows, while other Southeast
Asian markets traded in a tight range as investors laid off
heavy bets after the U.S. Federal Reserve dashed hopes of a
lengthy easing cycle.
The Fed lowered rates by 25 basis points at the conclusion
of its two-day meeting on Wednesday, which it called was a
"mid-cycle adjustment to policy".
Equities globally have had a bull run recently on
expectations that the Fed would kick off an easing cycle, but
Jerome Powell's hawkish stance poured cold water on the hopes.
MSCI's broadest index of Asia-Pacific shares outside Japan
.MIAPJ0000PUS faltered 0.4% on Thursday.
In Southeast Asia, Philippine shares .PSI declined as much
as 0.9%, heading for a third straight session of falls, as
utility and consumer stocks wavered.
Electricity retailer Aboitiz Power Corp AP.PS continued
its slide into a second session after disappointing quarterly
results, while SM Investments Corp SM.PS dropped 1.5%.
RCBC Securities warned of more bloodshed on Thursday after
the Fed implied no more rate cuts in the near-term.
Singapore stocks .STI were flat after ticking up early in
the session, with gains in top-tier banks offsetting losses in
other sectors.
Property developer City Developments Ltd CTDM.SI slipped
0.7%, while DBS Group Holdings Ltd DBSM.SI , Southeast Asia's
biggest lender, edged up 0.5%.
In other news, Singapore Airlines Ltd SIAL.SI suffered its
worst trading session in over a year after posting a 21% dive in
quarterly net profit as grounding of Boeing BA.N 737 MAX fleet
disrupted operations. Indonesian shares .JKSE were little changed ahead of key
inflation data for the month of July.
Annual inflation rate in July is predicted to stay around
the same level as in June, well within Bank Indonesia's (BI)
target range, a Reuters poll showed on Tuesday. Asian Companies click;
SOUTHEAST ASIAN STOCK MARKETS
Market Current Previous close Pct Move
Singapore 3300.23 3300.75 -0.02
Bangkok 1704.33 1711.97 -0.45
Manila 7994.37 8053.92 -0.74
Jakarta 6390.24 6390.505 0.00
Kuala Lumpur 1634.82 1634.87 0.00
Ho Chi Minh 992.77 991.66 0.11
Change so far in 2019
Market Current End 2018 Pct Move
Singapore 3300.23 3068.76 7.54
Bangkok 1704.33 1563.88 8.98
Manila 7994.37 7,466.02 7.08
Jakarta 6390.24 6,194.50 3.16
Kuala Lumpur 1634.82 1690.58 -3.30
Ho Chi Minh 992.77 892.54 11.23