August 10, 2017 / 10:29 AM / in a year

SE Asia Stocks-Subdued as N.Korea tensions weigh

    By Sandhya Sampath
    Aug 10 (Reuters) - Southeast Asian stocks ended largely flat
on Thursday as investors fretted about the simmering tensions
between the United States and North Korea, even as the previous
day's rush to safe-haven assets appeared to slow.
    Risk appetite in the region took a hit after North Korea
said it was considering plans for a missile strike on the U.S.
island territory of Guam, just hours after U.S. President Donald
Trump warned that any threat to the United States would be met
with "fire and fury". 
    Any news of a war or tension is always a reason for a
sell-off, said Mikey Macainag, an analyst with Sunsecurities
Inc, adding that the regional markets were at greater risk owing
to Southeast Asia's proximity to the epicentre of the crisis.
    MSCI's broadest index of Asia-Pacific shares outside Japan
 dipped 0.7 percent, after briefly trading in
positive territory earlier in the day.
    There is a lack of confidence in the market due to tensions
as everybody is fearing a war, added Macainag.
    In Southeast Asia, Philippines ended 0.3 percent
lower, with consumer and energy stocks leading the losses.
    "Some of the earnings disappointed, but some are just in
line with the estimates. Investors are in a risk-off mode ahead
of GDP data expected next week," Macainag added.           
    The biggest loser on the index, JG Summit Holdings Inc
 lost 6.2 percent, while Petron Corp ended 2.5
percent lower.
    The country's central bank left its benchmark interest rate
unchanged on Thursday, in line with expectations.
    Malaysia ended flat as gains in consumer staples
offset losses in consumer cyclicals. Government data showed
industrial production in June rose 4 percent from a
year earlier.
    Bucking the trend, Singapore shares closed marginally
higher. The index gained as much as 0.8 percent earlier in the
day, but gains were trimmed after financials reversed course.
    A Reuters poll showed the city-state's economy may have
grown more than previously estimated in the second quarter on
strong manufacturing. The data is expected to be released on
For Asian Companies click;  

 Change on day                                     
 Market            Current       Previous Close   Pct Move
 Singapore         3323.24       3318.08          0.16
 Bangkok           1571.64       1571.51          0.01
 Manila            7966.25       7985.83          -0.25
 Jakarta           5825.946      5824.007         0.03
 Kuala Lumpur      1777.77       1777.94          -0.01
 Ho Chi Minh       773.43        773.66           -0.03
 Change on year                                    
 Market            Current       End 2016         Pct Move
 Singapore         3323.24       2880.76          15.36
 Bangkok           1571.64       1542.94          1.86
 Manila            7966.25       6840.64          16.5
 Jakarta           5825.946      5296.711         9.99
 Kuala Lumpur      1777.77       1641.73          8.29
 Ho Chi Minh       773.43        664.87           16.3

 (Reporting by Sandhya Sampath; Editing by Vyas Mohan)
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