May 30, 2018 / 3:35 AM / 10 months ago

SE Asia Stocks-Fall as Italian crisis weighs on global sentiment

    * Singapore, Malaysia and Vietnam indexes over 2 pct lower
    * Indonesian shares cut losses ahead of cbank meeting 

    By Nicole Pinto
    May 30 (Reuters) - Southeast Asian stock markets fell on
Wednesday amid a global sell-off that was provoked by
uncertainty over Italy's elections which may cause a referendum
on the euro, and on fears the United States would impose further
trade measures against China. 
    Investors fear that repeat elections in the euro zone's
third-largest economy - which could come as soon as July - may
become a de-facto referendum on Italian membership of the
currency bloc and the country's role in the European Union.

    Eyes were also on the United States after Washington said it
will release a list of some $50 billion worth of Chinese goods
that will be subject to a 25 percent tariff by June 15, while
China said it would safeguard its interests if the White House
was looking to reignite a trade war.
    Asia shares ex-Japan lost 1.5 percent, while
Wall Street's main indexes fell up to 1.6 percent overnight.

    Asian bourses may attempt to trade on a slight risk-off tone
amid the ratcheting higher of geopolitical and trade tensions,
OCBC Treasury Research said in a note.
    Singapore shares fell over 2 percent, dragged down by
financials, with DBS Group, Oversea-Chinese Banking
Corporation and United Overseas Bank leading
the losses. 
    Malaysia slipped up to 2.3 percent to touch a more
than five-month low. Tenaga Nasional, the biggest drag
on the index, extended losses to fall as much as 5 percent.
    The Indonesian index fell as much as 0.9 percent
ahead of a central bank policy meeting later in the day, where
it is expected to raise its benchmark interest rate
    An index of the country's 45 most liquid stocks
fell nearly 0.9 percent. 
    Shares in Vietnam fell over 2 percent, while the
Philippines' benchmark index slipped as much as 1.4
percent to its lowest in over one year. 

For Asian Companies click;  

 STOCK MARKETS                                
                    Current   Previous Close  Pct Move
 Singapore          3444.11   3518.48         -2.11
 Bangkok            1719.38   1734.54         -0.87
 Manila             7496.78   7602.36         -1.39
 Jakarta            6055.934  6068.325        -0.20
 Kuala Lumpur       1732.52   1775.84         -2.44
 Ho Chi Minh        939.55    952.18          -1.33
 Change on year                               
 Market             Current   End 2017        Pct Move
 Singapore          3444.11   3402.92         1.21
 Bangkok            1719.38   1753.71         -1.96
 Manila             7496.78   8558.42         -12.40
 Jakarta            6055.934  6355.654        -4.72
 Kuala Lumpur       1732.52   1796.81         -3.58
 Ho Chi Minh        939.55    984.24          -4.54

 (Reporting by Nicole Pinto; Editing by Biju Dwarakanath)
Nuestros Estándares:Los principios Thomson Reuters
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