July 5, 2018 / 10:19 AM / 5 months ago

SE Asia Stocks-Philippines, Thailand slump over 1.5 pct; U.S. tariff deadline looms

    * Malaysia, Indonesia recover from early falls
    * Philippines snaps 4 straight sessions of gain
    * Thailand sees worst day in two-weeks 

    By Sumeet Gaikwad
    July 5 (Reuters) - Philippine and Thai shares slumped over
1.5 percent each on Thursday, in line with broader Asia, a day
before China and the United States were set to hit one another
with punitive tariffs that risked triggering a full-scale trade
war. 
    Thailand's SET Index snapped three straight sessions
of gains in very thin trade. Only 13.8 million shares changed
hands, compared with the 30-day average of 13.4 billion shares.
    Almost all the sectors ended in red. Energy and utility
stocks were the top losers with PTT Pcl shedding 3.1
percent, while Indorama Ventures slid 5.3 percent. 
    Oil declined after U.S. President Donald Trump demanded OPEC
cut crude prices, although the market found some support from an
Iranian threat to block shipments through the Strait of Hormuz.

    Philippine stocks fell for the first time in five
sessions after data showed June inflation rate quickened to a
five-year high. 
    The Philippine consumer price index stood at 5.2 percent in
June, above the 4.8 percent forecast in a Reuters poll, raising
expectations of a third interest rate hike this year.

    "Inflation data is negative for equity markets and it could
(trigger) more rate hikes, which might result in slower growth
going forward," said Charles William Ang, associate analyst at
COL Financial Group.
    Blue chips SM Investments Corp and Metropolitan Bank
and Trust Co fell 3.8 percent each.
    Vietnam shares fell for a third session in four and
closed 1.7 percent lower as financials weighed. 
    JSC Bank for Foreign Trade of Vietnam (Vietcombank)
fell over 6 percent while Petrovietnam Gas JSC was down
about 7 percent. 
    Meanwhile, Malaysian shares closed slightly higher
after trading in red for most part of the session.  
    Annual export growth in May slowed sharply from the previous
month amid lower demand for palm oil, data showed.
    Malaysia's palm oil inventories are forecast to have dropped
to a nine-month low in June as production in the world's second
largest producer fell faster than exports, according to a
Reuters survey.
    Indonesian shares also recovered from early falls to
close marginally stronger, supported by energy and telecom
stocks. 
    Telekomunikasi Indonesia gained nearly 2 percent,
while United Tractors rose 3.6 percent.
    Singapore shares extended gains into a second
session, helped by telecom stocks. 

For Asian Companies click;  

SOUTHEAST ASIAN STOCK MARKETS
 Change on the day                            
 Market             Current   Previous close  Pct Move
 Singapore          3256.71   3244.89         0.36
 Bangkok            1601.42   1629.2          -1.71
 Manila             7233.57   7348.42         -1.56
 Jakarta            5739.332  5733.639        0.10
 Kuala Lumpur       1690.65   1688.45         0.13
 Ho Chi Minh        899.4     914.99          -1.70
                                              
 Change on year                               
 Market             Current   End 2017        Pct Move
 Singapore          3256.71   3402.92         -4.30
 Bangkok            1601.42   1753.71         -8.68
 Manila             7233.57   8558.42         -15.48
 Jakarta            5739.332  6355.654        -9.70
 Kuala Lumpur       1690.65   1796.81         -5.91
 Ho Chi Minh        899.4     984.24          -8.62
 
 (Editing by Subhranshu Sahu)
  
Nuestros Estándares:Los principios Thomson Reuters
0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below