June 21, 2018 / 10:42 AM / 10 months ago

SE Asia Stocks-Down; Philippines hits 1-1/2 year closing low

    * Philippine shrs at lowest close since Jan 4, 2017
    * Malaysia sees biggest losing streak since early Oct.

    By Nicole Pinto
    June 21 (Reuters) - Philippine shares fell more than 2
percent on Thursday and marked their lowest close since January
2017, while other markets in the region ended weaker as
Sino-U.S. trade tensions lingered.
    The Philippine Index fell 2.3 percent to 7098.15,
slipping deeper into bear territory on persistent foreign
selling. The index is down nearly 22 percent from a record high
touched in January and the last time it fell over 20 percent was
between April 2015 and January 2016, when it shed 25 percent. 
    Foreign investors sold Philippine equities worth net $42.4
million on Thursday. They have net sold about $1.19 billion in
shares from February 1 to June 20, sparked by a weaker peso that
touched a 12-year low earlier this week. 
    "We breached 7,200 support, so the likelihood is large that
the market may retest the 7,000 mark in a month. We can get some
rally towards the end of the year due to the traditional window
dressing for the quarter-end," said Manny Cruz, an analyst with
Asiasec Equities Inc.
    Thai shares fell for a sixth session in seven,
ending 1.8 percent weaker at their lowest close since September
2017, a day after the central bank held its benchmark interest
    PTT Pcl fell 3.1 percent and Airports of Thailand
PCL slipped nearly 2 percent.    
    Volumes are low and investors are wary with the trade wars
happening between the Unites States and China, said Joel Ng, an
analyst at KGI securities.
    Rising U.S. yields are also triggering fund flows from
emerging markets into the United States, he added.
    Vietnam shares slipped 1.2 percent as Petrovietnam
Gas Joint Stock Corp and Vincom Retail JSC
ended 3.2 percent and 5.2 percent lower, respectively. 
    Singapore shares fell 0.5 percent, ending near a
nine-month low. 
    Malaysian shares fell 1 percent to their lowest
close since February 2017. The index ended lower for a ninth
straight session, its biggest losing streak since early October.
    For Asian Companies click;  

 Change on the day                             
 Market             Current    Previous Close  Pct Move
 Singapore          3300       3315.9          -0.48
 Bangkok            1634.44    1664.26         -1.79
 Manila             7098.15    7261.62         -2.25
 Jakarta            5822.333   5884.039        -1.05
 Kuala Lumpur       1692.32    1709.75         -1.02
 Ho Chi Minh        969.4      980.95          -1.18
 Change on year                                
 Market             Current    End 2017        Pct Move
 Singapore          3300       3402.92         -3.02
 Bangkok            1634.44    1753.71         -6.80
 Manila             7098.15    8558.42         -17.06
 Jakarta            5822.333   6355.654        -8.39
 Kuala Lumpur       1692.32    1796.81         -5.82
 Ho Chi Minh        969.4      984.24          -1.51

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