August 9, 2017 / 4:56 AM / a year ago

SE Asia Stocks-Fall as U.S.-North Korea tensions escalate

    By Urvashi Goenka
    Aug 9 (Reuters) - Southeast Asian stock markets fell on
Wednesday after North Korea said it was considering a missile
strike on U.S Pacific territory Guam, rattling financial markets
and prompting investors to seek havens such as gold and the yen.
    The strike plan would be put into practice at any moment
once leader Kim Jong Un makes a decision, a spokesman for the
Korean People's Army said in a statement carried by the North's
state-run KCNA news agency.
    The statement came just hours after U.S. President Donald
Trump told the North that any threat to the United States would
be met with "fire and fury". 
    Asian shares and U.S. stock futures
fell on Wednesday, and the dollar skidded 0.4 percent
against its perceived safe-haven Japanese counterpart,
plumbing its lowest levels since mid-June.

    Financial markets have tended to quickly shake off North
Korea's periodic sabre-rattling in the past, dismissing it as
bluster, but tensions have lingered this year amid signs that it
is making progress in its ballistic missile programme and on
Trump's growing frustration with Pyongyang.
    In Southeast Asia, Philippines fell as much as 0.4
percent, hurt by financials and real estate stocks.
    BDO Unibank and Ayala Land fell 1.5
percent each.
    Vietnam shares were the biggest losers in the region,
falling as much as 2 percent. Financials and consumer staples
dragged the index lower.
    Thailand fell 0.1 percent, with industrials
accounting for most of the losses.
    Siam Makro fell as much as 0.1 percent, posting
its biggest intraday percentage loss in more than a month.
    In Malaysia, shares fell 0.3 percent hurt by
financials and consumer discretionary stocks.
    Genting Malaysia and Malayan Banking
fell as much as 1 percent and 1.1 percent, respectively.
    Singapore markets were closed on Wednesday.             

For Asian Companies click;  

  Change on day                                           
  Market           Current       Previous Close  Pct Move
  Bangkok          1574.48       1577.44         -0.19
  Manila           7950.89       7986.51         -0.45
  Jakarta          5811.12       5810.563        0.01
  Kuala Lumpur     1777.81       1781.65         -0.22
  Ho Chi Minh      780.93        791.57          -1.34
  Change on year                                 
  Market           Current       End 2016        Pct Move
  Bangkok          1574.48       1542.94         2.04
  Manila           7950.89       6840.64         16.84
  Jakarta          5811.12       5296.711        9.71
  Kuala Lumpur     1777.81       1641.73         8.29
  Ho Chi Minh      780.93        664.87          17.5

 (Reporting by Urvashi Goenka in Bengaluru; Editing by Biju
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