July 16, 2018 / 4:16 AM / 10 months ago

SE Asia Stocks-Most markets fall; China GDP growth slows in Q2

    * Indonesia down after 5 sessions of gains
    * Vietnam up for third consecutive session

    By Karthika Suresh Namboothiri
    July 16 (Reuters) - Most Southeast Asian stock markets
declined on Monday on expectation of fund outflows to developed
economies and as China's economic growth failed to whet investor
appetite amid an intensifying trade spat between the world's top
two economies.
    China's economy expanded at a slower pace in the second
quarter as Beijing's crackdown on debt risks crimped activity,
while June factory output growth weakened to a two-year low in a
worrying sign as a heated trade war with the United States
threatens to knock exports.
    Investors are optimistic ahead of what is expected to be a
strong second-quarter earnings season on Wall Street, and
therefore, likely to redirect funds out of Asia to the United
States, said Joel NG, an analyst at KGI Securities.
    "U.S. stocks have been very vigilant, the Nasdaq has been
hitting new highs lately, partly due to global repositioning of
funds where they are headed towards developed countries and
those with strong earnings growth."
    Traders are now looking to June retail sales from the United
    Singapore shares slid as much as 0.7 percent with
financials leading the decline. 
    United Overseas Bank Ltd fell over 1.5 percent and
Oversea-Chinese Banking Corp shed 1.2 percent.
    Philippine shares were down after four straight
sessions of gains with index heavyweights SM Investments Corp
 and Ayala Corp down about 1 percent each.
    Indonesian shares erased early gains to trade 0.5
percent lower after five consecutive sessions of gains. Astra
International was the biggest drag with a drop of 2.6
    Thai shares fell 0.4 percent with Siam Cement
 declining nearly 2 percent, while Vietnam stocks
extended gains into a third session.    
For Asian Companies click;  

 Market          Current   Previous close  Pct Move
 Singapore       3233.97   3260.35         -0.81
 Bangkok         1638.39   1643.52         -0.31
 Manila          7353.19   7399.18         -0.62
 Jakarta         5893.774  5944.074        -0.85
 Kuala Lumpur    1719.08   1721.93         -0.17
 Ho Chi Minh     916.67    909.72          0.76
 Change on year                            
 Market          Current   End 2017        Pct Move
 Singapore       3233.97   3402.92         -4.96
 Bangkok         1638.39   1753.71         -6.58
 Manila          7353.19   8558.42         -14.08
 Jakarta         5893.774  6355.654        -7.27
 Kuala Lumpur    1719.08   1796.81         -4.33
 Ho Chi Minh     916.67    984.24          -6.87
 (Reporting by Karthika Suresh Namboothiri; Additional reporting
by Syed Saif Hussain Naqvi
Editing by Subhranshu Sahu)
Nuestros Estándares:Los principios Thomson Reuters
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