August 3, 2017 / 10:09 AM / a year ago

SE Asia Stocks-Edgy as Russia sanctions unnerve investors

    By Sandhya Sampath
    Aug 3 (Reuters) - Most Southeast Asian stock markets were
largely tepid on Thursday, as concerns over U.S. President
Donald Trump signing the Russia sanctions bill kept investors on
    Trump grudgingly signed into law new sanctions against
Russia on Wednesday, a move Moscow said amounted to a full-scale
trade war and an end to hopes for better ties with the Trump
    "I think it (Trump signing off new sanctions against Russia)
is a clear indication that geopolitical risk might escalate,"
said Taye Shim, head of research at Jakarta-based Mirae Asset
    World stock markets fell, led by a tumble in tech shares as
investors locked in recent gains after Wall Street's recent
    The overall profit-taking streak trickled down to Southeast
Asia as well, with Indonesia falling the most in the
region. The index closed 0.8 percent down.
    Losses were led by financials and technology stocks, with
Bank Central Asia Tbk PT and Indoritel Makmur
Internasional Tbk PT ending 0.9 percent and 1.7
percent down, respectively.
    Southeast Asia's largest economy is expected to report
second quarter GDP growth data on August 7.
    Expectations regarding the GDP growth are low given the fact
that there are growing concerns over the purchasing power of
Indonesians and the consumption recovery story, said Shim.
    An index of the country's 45 most liquid stocks
declined 0.8 percent.
    Singapore shares ended 0.2 percent lower, as oil and
gas, and telecom stocks took a hit. 
    Rig builder Sembcorp Industries lost 0.6 percent,
while StarHub Ltd lost 1.1 percent after reporting a
21 percent drop in quarterly net profit on Wednesday.

    Vietnam shares closed up 0.3 percent on the back of
gains in financials and consumer stocks.    
    Philippines snapped three sessions of losses to end
marginally up, while Malaysia ended up for a third
consecutive day.   

For Asian Companies click;  

 Change on day                                 
 Market            Current       Previous     Pct Move
 Singapore         3342.92       3348.8       -0.18
 Bangkok           1578.25       1580.54      -0.14
 Manila            7876.66       7872.65      0.05
 Jakarta           5780.576      5824.249     -0.75
 Kuala Lumpur      1771.9        1770.61      0.07
 Ho Chi Minh       788.49        786.23       0.29
 Change on year                                
 Market            Current       End 2016     Pct Move
 Singapore         3342.92       2880.76      16.04
 Bangkok           1578.25       1542.94      2.3
 Manila            7876.66       6840.64      15.15
 Jakarta           5780.576      5296.711     9.14
 Kuala Lumpur      1771.9        1641.73      7.93
 Ho Chi Minh       788.49        664.87       18.59
 (Reporting by Sandhya Sampath; Editing by Vyas Mohan)
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