October 11, 2016 / 10:22 AM / 2 years ago

SE Asia Stocks-Singapore drops on growth fears; Thailand extends falls

By Susan Mathew
    Oct 11 (Reuters) - Singapore shares posted their lowest
close in two weeks on Tuesday after local media reported the
economy might see some quarters of contraction, quoting a
government minister.
    The government still expects the economy to grow 1 to 2
percent for the full year, but on the lower side of the forecast
range, said Trade and Industry Minister Lim Hng Kiang.
    Financials shed 0.3 percent after the
city-state asked Swiss wealth manager Falcon Private Bank Ltd to
cease operations and fined lenders DBS Bank and UBS AG
 over lapses in its biggest crackdown on entities
dealing with Malaysian sovereign fund 1MDB. 
    MSCI's broadest index of Asia-Pacific shares outside Japan
 retreated 1.1 percent after creeping higher in
the previous session as investors saw less likelihood of
Republican nominee Donald Trump winning next month's U.S.
presidential election. 
    Thai shares extended falls, declining 1 percent to
their lowest close in a month, with consumer and industrial
stocks pulling down the index. Siam Cement Pcl shed 2
    Foreign investors cut Thai bond holdings by 9.2 billion baht
($263.8 million) in the first 10 days of October, showed Reuters
calculations based on data from the Thai Bond Market
    Indonesian shares gained 0.4 percent after a survey
by the central bank showed annual retail sales in August grew at
a much faster pace of 14.4 percent. 
    Gains were led by energy and consumer staples stocks with
cigarette maker Hanjaya Mandala Sampoerna Tbk PT 
closing 1.5 percent higher.
    Philippine stocks fell for the fifth straight session
and posted their lowest close since mid-June, with Manila
Electric and JG Summit Holdings declining
about 2 percent and 3 percent, respectively. 
    The country's exports continued to decline in August,
although at a slower pace, while imports rose 12.2 percent,
trade data released on Tuesday showed.   
For Asian Companies click;  
  STOCK MARKETS                                         
  Change on day                                         
  Market            Current       Previous     Pct Move
  Singapore         2856.13       2870.24      -0.49
  Bangkok           1442.21       1457.02      -1.02
  Manila            7520.82       7534.71      -0.18
  Jakarta           5381.997      5360.828     0.39
  Kuala Lumpur      1668.72       1665.32      0.20
  Ho Chi Minh       682.36        674.19       1.21
  Change on year                               
  Market            Current       End 2015     Pct Move
  Singapore         2856.13       2882.73      -0.92
  Bangkok           1442.21       1288.02      11.97
  Manila            7520.82       6952.08      8.18
  Jakarta           5381.997      4593.008     17.18
  Kuala Lumpur      1668.72       1692.51      -1.41
  Ho Chi Minh       682.36        579.03       17.85
 (Reporting by Susan Mathew in Bengaluru; Editing by Subhranshu
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