May 30, 2018 / 3:35 AM / 5 months ago

SE Asia Stocks-Fall as Italian crisis weighs on global sentiment

    * Singapore, Malaysia and Vietnam indexes over 2 pct lower
    * Indonesian shares cut losses ahead of cbank meeting 

    By Nicole Pinto
    May 30 (Reuters) - Southeast Asian stock markets fell on
Wednesday amid a global sell-off that was provoked by
uncertainty over Italy's elections which may cause a referendum
on the euro, and on fears the United States would impose further
trade measures against China. 
    Investors fear that repeat elections in the euro zone's
third-largest economy - which could come as soon as July - may
become a de-facto referendum on Italian membership of the
currency bloc and the country's role in the European Union.

    Eyes were also on the United States after Washington said it
will release a list of some $50 billion worth of Chinese goods
that will be subject to a 25 percent tariff by June 15, while
China said it would safeguard its interests if the White House
was looking to reignite a trade war.
    Asia shares ex-Japan lost 1.5 percent, while
Wall Street's main indexes fell up to 1.6 percent overnight.

    Asian bourses may attempt to trade on a slight risk-off tone
amid the ratcheting higher of geopolitical and trade tensions,
OCBC Treasury Research said in a note.
    Singapore shares fell over 2 percent, dragged down by
financials, with DBS Group, Oversea-Chinese Banking
Corporation and United Overseas Bank leading
the losses. 
    Malaysia slipped up to 2.3 percent to touch a more
than five-month low. Tenaga Nasional, the biggest drag
on the index, extended losses to fall as much as 5 percent.
 
    The Indonesian index fell as much as 0.9 percent
ahead of a central bank policy meeting later in the day, where
it is expected to raise its benchmark interest rate
.
    An index of the country's 45 most liquid stocks
fell nearly 0.9 percent. 
    Shares in Vietnam fell over 2 percent, while the
Philippines' benchmark index slipped as much as 1.4
percent to its lowest in over one year. 

    
For Asian Companies click;  

SOUTHEAST ASIAN STOCK MARKETS: Change as at 0325 GMT
 STOCK MARKETS                                
                    Current   Previous Close  Pct Move
 Singapore          3444.11   3518.48         -2.11
 Bangkok            1719.38   1734.54         -0.87
 Manila             7496.78   7602.36         -1.39
 Jakarta            6055.934  6068.325        -0.20
 Kuala Lumpur       1732.52   1775.84         -2.44
 Ho Chi Minh        939.55    952.18          -1.33
                                              
 Change on year                               
 Market             Current   End 2017        Pct Move
 Singapore          3444.11   3402.92         1.21
 Bangkok            1719.38   1753.71         -1.96
 Manila             7496.78   8558.42         -12.40
 Jakarta            6055.934  6355.654        -4.72
 Kuala Lumpur       1732.52   1796.81         -3.58
 Ho Chi Minh        939.55    984.24          -4.54
 

 (Reporting by Nicole Pinto; Editing by Biju Dwarakanath)
  
0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below