July 11, 2018 / 4:26 AM / 9 months ago

SE Asia Stocks-Most fall as China-U.S. trade spat ramps up

    * Singapore falls as much as 1.7 pct
    * Vietnam drops 2.2 pct, set for 3rd losing session 
    * Philippines climbs for 2nd session

    By Karthika Suresh Namboothiri
    July 11 (Reuters) - Southeast Asian stock markets fell on
Wednesday, with Singapore erasing some of the last two sessions'
gains and Vietnam extending losses to a third session, as
Washington warned of tariffs on an additional $200 billion worth
of Chinese imports, escalating the trade dispute.
    MSCI's broadest index of Asia-Pacific shares outside Japan
 fell 1.5 percent as the new tariff plan
rekindled risk-aversion after a strong start to the week for
global equities.
    "Expect a risk-off tone to prevail over Asian markets today
as investors prepare for the next escalation of U.S.-Sino trade
tensions and China's response", OCBC said on a note.
    Singapore shares shed as much as 1.7 percent, giving
up some of their 2.6 percent gain over the last two sessions.
    Oversea-Chinese Banking Corp Ltd and DBS Group
Holdings fell over 2.6 percent each.
    Indonesian stocks slid 1 percent, with Bank Negara
Indonesia down as much as 3.4 percent and Unilever
Indonesia dropping over 1 percent.
    The index of the country's 45 most liquid stocks
declined 1.6 percent in early trade.
    Malaysian shares were down as much as 0.5 percent.
Telecommunications service provider Axiata Group Bhd
fell 3.8 percent.
    The Malaysian central bank is expected to leave its
benchmark interest rate unchanged at its first policy meeting
under the newly appointed central bank governor.
    Thai shares fell nearly 1 percent, with energy
stocks taking a beating from falling oil prices.
    PTT Public Co fell more than 2 percent, while
Airports of Thailand were set to extend losses to a
second session.
    Vietnam's main index dropped 2.2 percent, with real
estate company Vingroup Joint Stock Co down nearly 3
    Meanwhile, Philippine stocks climbed 0.6 percent,
boosted by gains in industrials.
    "Investors think that despite the risks and headwinds, some
of their risks may have burst in already which resulted in some
bargain-hunting on some heavily discounted levels", said Fio
Dejesus, an analyst at Manila-based RCBC Securities.
    Index heavyweights SM Investments Corp was up as
much as 2.6 percent and Bank of the Philippine Islands
gained over 2.4 percent.
For Asian Companies click;  

 Market             Current   Previous close  Pct Move
 Singapore          3247.34   3274.83         -0.84
 Bangkok            1639.44   1643.6          -0.25
 Manila             7278.92   7233.29         0.63
 Jakarta            5870.734  5881.76         -0.19
 Kuala Lumpur       1684.69   1687.13         -0.14
 Ho Chi Minh        896.14    911.12          -1.64
 Change on year                               
 Market             Current   End 2017        Pct Move
 Singapore          3247.34   3402.92         -4.57
 Bangkok            1639.44   1753.71         -6.52
 Manila             7278.92   8558.42         -14.95
 Jakarta            5870.734  6355.654        -7.63
 Kuala Lumpur       1684.69   1796.81         -6.24
 Ho Chi Minh        896.14    984.24          -8.95
 (Reporting by Karthika Suresh Namboothiri; Editing by Amrutha
Nuestros Estándares:Los principios Thomson Reuters
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