December 18, 2018 / 3:47 AM / 3 months ago

SE Asia Stocks-Tumble in line with Wall Street on global growth woes

    * Malaysian stocks slide to near 2-year low
    * Thai stocks at over 5-month low
    * Caution prevails ahead of Fed Meeting on Wednesday

    By Rashmi Ashok
    Dec 18 (Reuters) - Southeast Asian stock markets tumbled on
Tuesday, tracking sharp losses on Wall Street, with Malaysia
falling to a near two-year low as investors continued to grapple
with concerns about a cooling global economy.
    Risk appetite took a hit, with MSCI's broadest index of
Asian shares ex-Japan shedding 0.3 percent in
mid-morning trade, dealing a blow to regional markets which were
yet to recover losses incurred after gloomy economic data from
China last week.
    The Malaysian benchmark index plunged to a near
two-year low, its lowest since Dec. 29, 2016, with IHH
Healthcare Bhd's stock being the index's top
percentage loser - down 4.5 percent- a day after the company
halted its offer for India's Fortis Healthcare Ltd after India's
apex court ruling on the deal.
    The Singapore index relinquished all gains from the
previous session to fall 1.6 percent to a 1-week low, with
financial stocks coming under pressure.  
    Shares of the country's second-biggest listed lender
Oversea-Chinese Banking Corp Ltd fell 1.9 percent,
while those of industrial conglomerate Jardine Strategic
Holdings Ltd slipped 2.4 percent.
    The Indonesian benchmark index slid to a near 3-week
low and was on track for a third straight session in the red,
with consumer stocks and financials weighing most on the index. 
    Cigarette maker Gudang Garam Tbk's scrip slipped 2
percent, while that of lender Bank Central Asia Tbk
weakened 2.1 percent. 
    The Philippine index traded in line with peers and
fell 1.3 percent, after closing unchanged in the previous
session.
    Shares of industrial conglomerate JG Summit Holdings Inc
 fell 3 percent, while those of sector heavyweight SM
Investments Corp lost about 2.3 percent.
    The Vietnamese index, which was the region's worst
performer on Monday, slipped as much as 1.5 percent to an over
3-week low.
    Real-estate stocks took a hit, with Vinhomes Joint Stock
Co's counter down 2.1 percent and that of Vingroup
Joint Stock Co falling 1.5 percent.
    The Thailand index fell as much as 0.9 percent to an
over 5-month low, with energy stocks faring the worst, after oil
prices tumbled on worries of a supply glut and possible slump in
future demand amid soft global growth outlook.
    Shares of energy companies PTT PCL and PTT
Exploration and Production PCL slipped 1 percent and
3.6 percent, respectively.
    
For Asian Companies click;  

SOUTHEAST ASIAN STOCK MARKETS at 0310 GMT
 Change on the day                            
 Market             Current   Previous close  Pct Move
 Singapore          3063.89   3114.25         -1.62
 Bangkok            1587.91   1601.48         -0.85
 Manila             7421.52   7520.4          -1.31
 Jakarta            6051.172  6089.305        -0.63
 Kuala Lumpur       1633.46   1641.62         -0.50
 Ho Chi Minh        926.58    933.65          -0.76
                                              
 Change on year                               
 Market             Current   End prev yr     Pct Move
 Singapore          3063.89   3402.92         -9.96
 Bangkok            1587.91   1753.71         -9.45
 Manila             7421.52   8,558.42        -13.28
 Jakarta            6051.172  6,355.65        -4.79
 Kuala Lumpur       1633.46   1796.81         -9.09
 Ho Chi Minh        926.58    984.24          -5.86
 
 (Reporting by Rashmi Ashok in Bengaluru; Editing by Rashmi
Aich)
  
Nuestros Estándares:Los principios Thomson Reuters
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