April 17, 2017 / 6:02 AM / a year ago

SE Asia Stocks-Largely down as investors take focus off risky assets

    By Rushil Dutta
    April 17 (Reuters) - Most Southeast Asian stock markets fell
on Monday as investors sought refuge in safe-haven assets in the
wake of mounting geopolitical tensions. 
    Already bruised by worries over North Korea and upcoming
French elections, global investor sentiment was further hurt by
weak U.S. economic data.
    Though a host of Chinese economic data beat market
expectations, they failed to trigger market reactions as 
investors had already been optimistic following a recent string
of positive numbers out of the country.
    Similarly, Singapore's strong export numbers for March did
little to lift dour investor mood following the central bank's
cautionary tone last week.
    "Local news such as the Singapore non-oil domestic exports
and MAS monetary policy, though positive, may have already been
partly factored into stock prices given the year-to-date
performance of the Singapore stock market," said Liu Jinshu,
director of research, NRA Capital.
    Singapore shares fell 0.9 percent and were the worst
performers in the region. The Singapore market was closed on
Friday for a holiday.
    "The lower open today created a snowball effect that
perpetuated more selling as traders cut their losses from
leveraged positions, according to some brokers," he said.
    Losses were broad-based with industrials, financials and
telcos being the worst performing sectors.
    Telecommunications firm StarHub Ltd and real
estate operator City Developments Ltd fell about 2
percent each and were the biggest losers on the index.
    Philippine shares, which gained 0.6 percent last week
in their third straight weekly gain on the back of strong net
foreign inflows, fell 0.5 percent.
    Analysts say they believe the spate of gains resulted in
profit booking.
    Megaworld Corp, which was one of the biggest
gainers last week, was the worst performer on the index.
    Telco PLDT Inc, a heavyweight in the
telecommunications sector and on the index, was 2 percent lower.
    Thai shares fell 0.6 percent, dragged down by energy
and consumer stocks, while Malaysia and Vietnam
eked out small gains.

For Asian Companies click;  

 Market                   Current   Previous Close  Pct Move
 Singapore                3142.13   3169.24         -0.86
 Bangkok                  1579.87   1589.5          -0.61
 Manila                   7593.87   7629.64         -0.47
 Jakarta                  5604.277  5616.545        -0.22
 Kuala Lumpur             1734.83   1730.99         0.22
 Ho Chi Minh              719.3     718.45          0.12
 Change so far this year                            
 Market                   Current   End prev yr     Pct Move
 Singapore                3142.13   2880.76         9.07
 Bangkok                  1579.87   1542.94         2.39
 Manila                   7593.87   6840.64         11.00
 Jakarta                  5604.277  5296.711        5.81
 Kuala Lumpur             1734.83   1641.73         5.67
 Ho Chi Minh              719.3     664.87          8.20 
 (Reporting by Rushil Dutta; Additional reporting by Anusha
Ravindranath in Bengaluru; Editing by Subhranshu Sahu)
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