November 9, 2016 / 5:22 AM / in 2 years

SE Asia Stocks-Plunge as Trump leads in U.S. presidential run

By Rushil Dutta
    Nov 9 (Reuters) - Southeast Asian stock markets fell sharply
in tense trading on Wednesday, with Singapore hitting a
four-month low, as Republican Donald Trump's lead in the U.S.
presidential election dealt a shock to world markets, killing
risk appetite.  
    Trump scored a series of shocking wins in battleground U.S.
states, opening a path to the White House for the political
outsider and rattling investors who had counted on a win by
Democrat Hillary Clinton.  
    "We don't know what will happen if Trump wins. It will be a
wait and see situation and (will see a) shift to the less risky
assets," said Ralph Christian Bodollo, an equity research
analyst with Manila-based RCBC Securities, adding that a Trump
victory would be negative for risk assets.
    MSCI's broadest index of Asia-Pacific shares outside Japan
 fell 3.1 percent, its biggest percentage loss in
more than four months.
    Gold, a traditional safe haven for investors in times of
uncertainty, jumped, while the dollar fell sharply against a
basket of other leading currencies.   
   Singapore shares lost 1.8 percent to hit their lowest
since the end of June. Oil and gas stocks took the worst hit as
global oil prices plunged. Rig builder Sembcorp Industries
 fell as much as 4.6 percent, its biggest percentage
loss in more than seven months.
    Casino operator Genting Singapore and Golden
Agri-Resources were also among the top losers.
    Singapore's financial stocks, the biggest
component of the index, were down 1.7 percent.
    Indonesia's main index was down 2 percent, hitting
its lowest since the UK's vote to leave the European Union in
June, dragged down by the energy and financial stocks.
    Deputy governor of Indonesia's central bank, Perry Warjiyo,
told reporters on Wednesday that the central bank is ready to
stalilise the rupiah in case of volatility. 
    Philippine shares fell 1.4 percent, pulled down by
financials and consumer stocks.
    BDO Unibank Inc and Bank of Philippine Islands
 shed 3.2 percent and 2.7 percent, respectively.
    Thai shares were 1.4 percent lower, while Malaysia
 lost about 1 percent.
For Asian Companies click;  

  STOCK MARKETS                                 
  Change at                                     
 0458 GMT                               
  Market         Current     previous   Pct Move
  Singapore      2768.84     2820.24    -1.82
  Bangkok        1488.26     1509.84    -1.43
  Manila         7202.31     7307.8     -1.44
  Jakarta        5363.885    5470.681   -1.95
  Kuala Lumpur   1648.34     1663.82    -0.93
  Ho Chi Minh    668.01      676.46     -1.25
  Change on                             
  Market         Current     End 2015   Pct Move
  Singapore      2768.84     2882.73    -3.95
  Bangkok        1488.26     1288.02    15.55
  Manila         7202.31     6952.08    3.60
  Jakarta        5363.885    4593.008   16.78
  Kuala Lumpur   1648.34     1692.51    -2.61
  Ho Chi Minh    668.01      579.03     15.37

 (Reporting by Rushil Dutta; Additional reporting by Geo
Tharappel in Bengaluru; Editing by Amrutha Gayathri)
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