September 7, 2018 / 4:01 AM / 15 days ago

SE Asia Stocks-Most slide on trade war jitters, headed for weekly decline

    * Most indexes set to end week lower
    * Singapore shares hit over 1-year low
    * Philippine index down for 3rd day

    By Sumeet Gaikwad
    Sept 7 (Reuters) - Most Southeast Asian stock markets fell
on Friday in line with broader Asia, as investors feared a new
round of Sino-U.S. tariffs, while lingering economic woes in
emerging markets also hit sentiment.
    The public comment period on the Trump administration's plan
to impose tariffs on $200 billion more of Chinese goods was set
to end by midnight in Washington on Thursday, and investors were
edgy as the tariffs could go into effect shortly afterward.
    Emerging market stocks have been rattled this week as
currencies in Argentina, Turkey and Indonesia lost ground and
South Africa slipped into a recession.
    MSCI's broadest index of Asia-Pacific shares outside Japan
 lost 0.8 percent, its sixth straight daily
decline, while benchmark stock indexes in Singapore, the
Philippines, Malaysia and Indonesia were each poised to end the
week lower.
    Financial stocks dragged the Singapore index as much
as 0.8 percent lower to a near 1-1/2-year low. The benchmark was
in the red for the seventh time in eight sessions.
    The city-state's top lender DBS Group declined 1.1
percent while United Overseas Bank slipped 0.6
percent.
    Philippine shares were down for a third day, hurt by
declines in industrials and real estate stocks. The index is
poised to post its biggest weekly fall in over two months.
    Index heavyweights SM Investments Corp and Ayala
Corp fell 2 percent and 1.5 percent, respectively.
    Malaysian stocks were largely unchanged as losses in
consumer staples and industrial stocks offset gains in telecom
and healthcare.
    Blue-chip SIME Darby Plantation was the biggest
drag on the benchmark, falling 1.5 percent, while Genting Bhd
 rose 1 percent.
    Malaysian July industrial production data is expected later
on Friday.
    Thai shares fell as energy stocks declined. Oil and
gas producer PTT slipped 0.5 percent.
    Meanwhile, the Jakarta index rose marginally, helped
by consumer stocks. Unilever Indonesia rose 3 percent,
while diversified conglomerate Astra International
rose almost 3 percent.
    An index of the country's 45 most liquid stocks
was slightly lower.
        
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SOUTHEAST ASIAN STOCK MARKETS: CHANGE AS AT 0354 GMT
 Change on the day                            
 Market             Current   Previous close  Pct Move
 Singapore          3123.25   3147.69         -0.78
 Bangkok            1689.54   1693.94         -0.26
 Manila             7554.2    7638.71         -1.11
 Jakarta            5796.317  5776.095        0.35
 Kuala Lumpur       1796.9    1798.57         -0.09
 Ho Chi Minh        961.83    958.19          0.38
                                              
 Change on year                               
 Market             Current   End 2017        Pct Move
 Singapore          3123.25   3402.92         -8.22
 Bangkok            1689.54   1753.71         -3.66
 Manila             7554.2    8558.42         -11.73
 Jakarta            5796.317  6355.654        -8.80
 Kuala Lumpur       1796.9    1796.81         0.01
 Ho Chi Minh        961.83    984.24          -2.28
 
 (Reporting by Sumeet Gaikwad in Bengaluru; Editing by Sai
Sachin Ravikumar)
  
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