August 16, 2018 / 4:37 AM / in a month

SE Asia Stocks-Fall as global economy risks pressure markets

    * Singapore extends losses into 5th straight session
    * Indonesia resumes fall after previous session's gains

    By Ambar Warrick
    Aug 16 (Reuters) - Southeast Asian stocks fell on Thursday,
pressured by an extending rout in Asian equities as Turkey's
currency woes and protectionist U.S. trade policies sparked
jitters over the global economic health.
    Worries of a growth slowdown in China also contributed to
losses across global markets, after a slew of soft Chinese
economic data out earlier this week. 
    Wall Street fell overnight in heavy trading as technology
and retail stocks tumbled on risk aversion after disappointing
earnings. 
    MSCI's broadest index of Asia-Pacific shares outside Japan
 fell to a one-year low on Thursday, having
plunged about 4 percent since last week.
    The lira had plunged to an all-time low at the start of the
week as tensions between Ankara and Washington flared amid
worries over President Tayyip Erdogan's economic policies. 
    "The trade war between the U.S. and Turkey, which resulted
in a free-fall of the Turkish lira, has affected emerging
markets, especially Asia," said Manny Cruz, an analyst at
Asiasec Equities. 
    Singapore shares fell 0.5 percent to a more than
one-month low, set to extend losses into a fifth straight
session. Oversea-Chinese Banking Corp Ltd and United
Overseas Bank Ltd dropping about 1 percent each.
    Indonesian shares slipped after closing higher on
Wednesday, when the central bank raised its benchmark interest
rate. 
    However, Bank Indonesia also flagged weaker economic growth
for the year.
    "Weakening growth will continue to drag market sentiment,
and it should compel fund managers and foreign investors to
continue selling," Cruz said.
    The index of the country's 45 most liquid stocks
slipped 0.3 percent. 
    
For Asian Companies click;  

SOUTHEAST ASIAN STOCK MARKETS AS AT 0343 GMT 
 Change on the day                            
 Market             Current   Previous close  Pct Move
 Singapore          3218.57   3234.12         -0.48
 Bangkok            1666.41   1676.29         -0.59
 Manila             7507.22   7540.92         -0.45
 Jakarta            5804.555  5816.59         -0.21
 Kuala Lumpur       1778.27   1785.94         -0.43
 Ho Chi Minh        952.91    961.37          -0.88
                                              
 Change on year                               
 Market             Current   End 2017        Pct Move
 Singapore          3218.57   3402.92         -5.42
 Bangkok            1666.41   1753.71         -4.98
 Manila             7507.22   8558.42         -12.28
 Jakarta            5804.555  6355.654        -8.67
 Kuala Lumpur       1778.27   1796.81         -1.03
 Ho Chi Minh        952.91    984.24          -3.18
                                              
 
 (Reporting by Ambar Warrick in Bengaluru; Editing by Amrutha
Gayathri)
  
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