June 28, 2018 / 10:02 AM / 4 months ago

SE Asia Stocks-Most markets fall; Indonesia slumps over 2 pct

    * Thai stocks fall to 10-month closing low
    * Philippine shares retreat 1.5 pct 

    By Ambar Warrick
    June 28 (Reuters) - Most Southeast Asian stock markets fell
on Thursday, in line with broader Asia on worries that mounting
Sino-U.S. trade tensions are hurting global economic growth.
    Indonesian shares slumped 2.1 percent to their
lowest close since mid-May 2017, extending their decline into a
third session and making them the region's top losers.
    Losses were broad-based with financial and material stocks
leading the decline. Bank Central Asia ended 1.9
percent lower, while Indah Kiat Pulp & Paper shed 7.5
percent.
    The Chinese yuan's depreciation is a negative sentiment for
Indonesian commodity firms, Trimegah Securities said in a note.
In the spot market, the yuan opened at 6.6177 per
dollar, and ended the onshore trading session at 6.6250 per
dollar, the weakest official close in seven months.
    Indonesia exports a substantial amount of coal to China.
    An index of the country's 45 most liquid stocks
ended 2.2 percent lower.
    The rupiah plunged to its lowest since October 2015
against the dollar on extended outflows. A volatile currency has
prompted the central bank to take protective measures for the
economy.
    Sentiment was also hurt as Asian stocks slumped to a
nine-month low. MSCI's broadest index of Asia-Pacific shares
outside Japan was down 0.7 percent as Chinese
stocks, coupled with the yuan, took a fresh beating.
    Philippine shares dropped 1.5 percent after adding
2.4 percent in the previous session. Industrial and real estate
stocks were among the biggest drags after Wednesday's gain on
selective bargain-buying.
    Index heavyweight SM Investments Corp ended 2.7
percent lower, while property developer SM Prime Holdings Inc
 fell 3.5 percent.
    Thai shares declined 1.2 percent to their lowest
close since August 2017 after the finance ministry said annual
economic growth would slow in the April-June period.

    Meanwhile, Singapore shares closed slightly higher,
but remained parched near eight-month lows.
   
For Asian Companies click;  
    
 Change on the day                            
 Market             Current   Previous close  Pct Move
 Singapore          3257.57   3254.77         0.09
 Bangkok            1599.54   1618.66         -1.18
 Manila             7066.57   7176.43         -1.53
 Jakarta            5667.319  5787.552        -2.08
 Kuala Lumpur       1665.68   1666.08         -0.02
 Ho Chi Minh        957.35    968.91          -1.19
                                              
 Change on year                               
 Market             Current   End 2017        Pct Move
 Singapore          3257.57   3402.92         -4.27
 Bangkok            1599.54   1753.71         -8.79
 Manila             7066.57   8558.42         -17.43
 Jakarta            5667.319  6355.654        -10.83
 Kuala Lumpur       1665.68   1796.81         -7.30
 Ho Chi Minh        957.35    984.24          -2.73
 

 (Reporting by Ambar Warrick in Bengaluru; Editing by Subhranshu
Sahu)
  
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