June 11, 2018 / 4:32 AM / 4 months ago

SE Asia Stocks-Tread water ahead of U.S.-N.Korea summit, cenbank meetings

    * Malaysia's April factory output up 4.6 pct y/y, above
forecast
    * Vietnam rise for an eighth straight session

    By Nicole Pinto
    June 11 (Reuters) - Southeast Asian stock markets trod water
on Monday ahead of a U.S.-North Korea summit that could lay the
groundwork for ending a nuclear stand-off between the old foes,
while investors also started to focus on key central bank
meetings later this week.
    Also, weighing on investor sentiment were fears of a trade
spat after U.S. President Donald Trump took aim at Canadian
Prime Minister Justin Trudeau at the Group of Seven summit over
the weekend, adding he might double down on import tariffs by
hitting the sensitive auto industry.
    Trudeau spoke of retaliatory measures that Canada would take
next month in response to Trump's decision to slap tariffs on
steel and aluminium imports from Canada, Mexico and the European
Union.
    MSCI's broadest index of Asia-Pacific shares outside Japan
 rose 0.2 percent.
    In Southeast Asia, Philippine shares recovered from
an early fall of 0.5 percent to trade slightly higher.
    SM Investments Corp fell as much as 1.6 percent,
while JG Summit Holdings Inc climbed 2.8 percent. 
    Trump's refusal to back down from trade tariffs might have
caused slight negative sentiment in the local market, said Fio
De Jesus, an equity research analyst with RCBC Securities in
Manila.
    Investors are now looking at what progress the Trump
administration would be able to achieve with regards to North
Korea's nuclear programme, added the analyst.
    The Philippine market will be closed on Tuesday for
Independence Day.
    Malaysian shares also came off early falls, to trade
0.5 percent higher. Malayan Banking Bhd fell as much
as 1.4 percent, while Genting Malaysia Bhd rose 1.6
percent. 
    Malaysia's industrial production index rose 4.6 in April
from a year earlier, supported by gains in all three major
sectors, government data showed.
    Singapore shares rose as much as 0.5 percent before
paring gains to trade slightly higher, while Vietnam shares
 rose for an eighth straight session. 
    Thai shares recovered from early falls to trade
little changed. PTT PCL fell nearly 1 percent. 
    Indonesian financial markets are closed from June 11 to June
19 for Eid Al-Fitr celebrations.
    
For Asian Companies click;  

SOUTHEAST ASIAN STOCK MARKETS: Change as at 0422 GMT
 Change on the day                            
                    Current   Previous Close  Pct Move
 Singapore          3438.55   3436.37         0.06
 Bangkok            1722.91   1722.04         0.05
 Manila             7757.41   7740.74         0.22
 Kuala Lumpur       1786.49   1778.32         0.46
 Ho Chi Minh        1041.83   1039.01         0.27
                                              
 Change on year                               
 Market             Current   End 2017        Pct Move
 Singapore          3438.55   3402.92         1.05
 Bangkok            1722.91   1753.71         -1.76
 Manila             7757.41   8558.42         -9.36
 Kuala Lumpur       1786.49   1796.81         -0.57
 Ho Chi Minh        1041.83   984.24          5.85
 

 (Reporting by Nicole Pinto; Editing by Subhranshu Sahu)
  
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