August 9, 2017 / 10:12 AM / a year ago

SE Asia Stocks-Most fall as U.S.-North Korea tensions mount

    By Urvashi Goenka
    Aug 9 (Reuters) - Most Southeast Asian stock markets closed
lower on Wednesday as mounting tensions between North Korea and
the United States prompted investors to hop on to safe-haven
    North Korea said it is considering plans for a missile
strike on the U.S. Pacific territory of Guam, 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."

    U.S. Treasuries, gold and the safe-haven yen rose in early
Asian trading. Gold prices rose while the yen hit an eight-week
high against the dollar and made broad gains against other
peers, reacting to the political tensions stemming from the
Korean Peninsula.
    "Markets basically reflected the performance of the U.S.
markets last night following the statements of Trump," said
Lexter Azurin, a senior analyst with Manila-based AB Capital
    Wall Street's three major indexes dipped on Tuesday after
Trump vowed to respond aggressively to any threats from North
    In Southeast Asia, Vietnam shares fell 2.3 percent,
their most in nine months, dragged down by financials and
consumer staples.
    "I think it is just a short-term correction since the
regional markets are getting very sale ready and they think this
great valuation was justified," Azurin said.
    Thai shares fell as much as 0.5 percent, hurt by
industrials. Thai Airways International dropped 2
percent, finishing lower for the fourth straight session.
    Malaysian shares fell slightly as industrials and
consumer discretionary stocks lost ground.
    RHB Bank fell 1.6 percent, while MISC Bhd
 dropped 2.3 percent. The stocks were among the biggest
percentage losers on the index.
    MISC reported quarterly profit of 565.5 million ringgit 
($131.91 million), compared with 1.35 billion ringgit in the
year-ago quarter.
    Indonesian shares rose 0.2 percent, supported by
materials and financials.
    Singapore was closed for a holiday.
For Asian Companies click;  


  Change on day                                        
  Market           Current       previous     Pct Move
  Bangkok          1571.51       1577.44      -0.38
  Manila           7985.83       7986.51      -0.01
  Jakarta          5824.007      5810.563     0.23
  Kuala Lumpur     1777.94       1781.65      -0.21
 Ho Chi Minh       773.66        791.57       -2.26
  Change on year                              
  Market           Current       End 2016     Pct Move
  Bangkok          1571.51       1542.94      1.85
  Manila           7985.83       6840.64      16.74
  Jakarta          5824.007      5296.711     9.96
  Kuala Lumpur     1777.94       1641.73      8.30
 Ho Chi Minh       773.66        664.87       16.36
($1 = 4.2870 ringgit)

 (Reporting by Urvashi Goenka in Bengaluru Editing Editing by
Subhranshu Sahu)
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