June 19, 2018 / 10:33 AM / 6 months ago

SE Asia Stocks-Decline; worsening U.S-China trade spat unnerves investors

    * Thailand sees worst intraday pct fall in over 1-1/2 yrs
    * Philippine shares at lowest close since March 2017
    * Singapore shares erase gains, end lower

    By Nicole Pinto
    June 19 (Reuters) - Southeast Asian stock markets declined
on Tuesday, with Thailand and Vietnam closing more than 2
percent lower, as escalating U.S.-China trade tensions led to a
broad sell-off in regional equities. 
    U.S. President Donald Trump said on Monday that Washington
would impose a further 10 percent tariff on $200 billion of
Chinese goods after Beijing's retaliated to its earlier tariffs.

    The Shanghai Composite Index ended nearly 4 percent
down after hitting its lowest level since mid-2016 while the
blue chip CSI300 index fell 3.5 percent. Key Wall
Street index futures were trading more
than 1 percent lower.
    Vietnam shares closed 2.6 percent lower, after
falling as much as 4.6 percent during the session, dragged by
consumer staple and financial stocks. Vietnam Technological and
Commercial Joint Stock Bank lost 5 percent each while
Vietnam Dairy Products JSC ended 3.7 percent lower. 
    Thai and Philippine shares declined ahead of policy meetings
by the Bangko Sentral ng Pilipinas and Bank of Thailand on
Wednesday.
    Financial and energy stocks weighed on the Thai
index which saw its worst intraday fall since October 2016, with
PTT PCL marking its lowest close since January. 
    Energy stocks that outperformed at the beginning of the year
are now witnessing selling pressure, while investors are also
trying to book profit ahead of the Organization of the Petroleum
Exporting Countries meeting later this week, said Teerada
Charnyingyong, an analyst at Phillip Capital Thailand.
    Philippine shares fell for a fourth consecutive
session. Index heavyweights SM Investments Corp, BDO
Unibank Inc and JG Summit Holdings Inc ended
between 2.2 percent and 3.7 percent lower. 
    Malaysian shares extended losses to a seventh
straight session. Public Bank, Malayan Banking
 slid 2.7 percent and 2.8 percent, respectively.     
    Singapore shares erased gains to finish at an
eight-month closing low. Oversea-Chinese Banking Corporation
 and DBS Group Holdings closed lower and
Venture Corporation Ltd fell for a fourth consecutive
session. 
    Indonesian financial markets are closed on Tuesday for Eid
Al-Fitr.
    For Asian Companies click;  

SOUTHEAST ASIAN STOCK MARKETS    
 Change on the day                            
 Market             Current   Previous Close  Pct Move
 Singapore          3301.35   3324.04         -0.68
 Bangkok            1639.54   1679.68         -2.39
 Manila             7312.61   7414.11         -1.37
 Kuala Lumpur       1715.36   1743.43         -1.61
 Ho Chi Minh        962.16    987.34          -2.55
                                              
 Change on year                               
 Market             Current   End 2017        Pct Move
 Singapore          3301.35   3402.92         -2.98
 Bangkok            1639.54   1753.71         -6.51
 Manila             7312.61   8558.42         -14.56
 Kuala Lumpur       1715.36   1796.81         -4.53
 Ho Chi Minh        962.16    984.24          -2.24
 
    
    

 (Reporting by Nicole Pinto in Bengaluru; Editing by Vyas Mohan)
  
Nuestros Estándares:Los principios Thomson Reuters
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