August 12, 2016 / 5:21 AM / 2 years ago

SE Asia Stocks-Subdued on China growth concerns; US retail sales data awaited

By Justin George Varghese
    Aug 12 (Reuters) - Southeast Asian stock markets were
subdued on Friday on concerns about a slowing Chinese economy
and as investors awaited a raft of U.S. data, notably retail
sales, for latest cues about the world's largest economy.
    China's industrial output and retail sales in July rose less
than expected, while growth in fixed asset investment in the
January-July period missed forecasts and slipped to the lowest
year-to-date rate in more than 16 years. 
    Chinese data suggests investors may take the opportunity to
sell on shakier outlook, but there will be some bargain-hunting,
said Mixo Das, a Southeast Asian equity strategist with Nomura,
citing Wall Street's record highs overnight and gains in wider
    Investors will sift through U.S. retail sales data, due
later in the day, for clues about whether the economy is robust
enough to withstand further monetary tightening.
    U.S. retail sales are expected to show a 0.4 percent monthly
increase in July, according to the median estimate of 64
economists polled by Reuters. 
    Trading was also slow with many market participants in Japan
on leave this week for the summer holidays.
    Singapore shares fell as much as 0.45 percent and
were headed for their second straight session of declines,
dragged down by financials and telecommunications.
    Singapore Telecommunications Ltd fell 1.2 percent,
while Capitaland Mall Trust dropped 1.8 percent.
    Philippine stocks fell for a third consecutive
session, with financial stocks Metropolitan Bank & Trust Co
 and SM Prime Holdings Inc among top losers.
    Meanwhile, Vietnam shares rose for a fifth
consecutive session and hit a near four-week high, driven by
consumer staples and utilities, while Malaysian stocks 
extended gains into a third straight session, led by energy
    Thailand was closed on Friday for a holiday.
    For Asian Companies click;  

  STOCK MARKETS                                             
  Change on 0428 GMT                                        
  Market              Current     previous close   Pct Move
  Singapore           2863.92     2869.82          -0.21
  Bangkok             --          1552.64          --
  Manila              7956.38     7981.35          -0.31
  Jakarta             5418.434    5419.088         -0.01
  Kuala Lumpur        1682.5      1678.8           0.22
  Ho Chi Minh         662.1       660.24           0.28
  Change this year                                 
  Market              Current     End prev yr      Pct Move
  Singapore           2863.92     2882.73          -0.65
  Bangkok             1552.64     1288.02          20.54
  Manila              7956.38     6952.08          14.45
  Jakarta             5418.434    4593.008         17.97
  Kuala Lumpur        1682.5      1692.51          -0.59
  Ho Chi Minh         662.1       579.03           14.35

 (Reporting by Justin George Varghese in Bengaluru; Editing by
Subhranshu Sahu)
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