December 18, 2018 / 10:17 AM / 3 months ago

SE Asia Stocks-End lower on growth woes; Malaysia closes at near 2-yr low

    * Drop in Singapore shares a "knee-jerk reaction" to Wall
Street -
analyst
    * Vietnam posts fourth straight day of losses
    * Thailand closes at its lowest since Aug 25, 2017

    By Rashmi Ashok
    Dec 18 (Reuters) - Southeast Asian stock markets ended lower
on Tuesday, with Malaysian shares touching their weakest close
in nearly two years, after heightened worries about global
growth stoked a sell-off on Wall Street.
    Investors found little solace in Chinese President Xi
Jinping's speech at the 40th anniversary of China's move toward
market liberalisation, as he called for implementation of
reforms but offered no new specific measures.
    MSCI's broadest index of Asian shares ex-Japan
 dipped 0.9 percent in mid-afternoon trade, as
worries dented risk sentiment and sent investors scurrying away
from risky assets.
    Singapore stocks, the region's worst performer,
reversed course from previous session to end 2.2 percent weaker,
with financials underpinning losses.
    "I don't think this slump will last as it was reportedly due
to a fund liquidation activity," Liu Jinshu, director of
research at NRA Capital, said, terming the sharp drop as a
"knee-jerk reaction" to the slump in Wall Street.
    The Federal Reserve is widely expected to raise interest
rates on Wednesday, which would be its fourth hike this year.
Markets will scrutinise the Fed's two-day policy meeting, which
starts on Tuesday, for its sense of how the economy is holding
up amid a U.S.-China trade conflict and global financial market
volatility.
    "We may see a relief recovery as people await the latest Fed
decision," Jinshu added.
    Malaysian stocks pared early losses to their lowest
close since Dec 28, 2016, with Sime Darby Plantation Berhad
 being the biggest percentage loser on the index.
    Vietnam's index closed at its fourth straight session
of declines, dragged down by real estate and consumer stocks.
    Vietnam Dairy Products Joint Stock Co lost 1.6
percent, while insurance provider Baoviet Holdings
closed 4.7 percent weaker.
    Philippine shares closed 1.3 percent lower, dented by
industrial and financial stocks, with conglomerate SM
Investments Corp ending 2.1 percent weaker.
    Thailand shares extended losses into a fourth
session, closing at their lowest since Aug 25, 2017. 
    Energy stocks, the biggest drag on the index, notched losses
after oil prices dropped for a third session on reports of
growing inventory and forecast of record U.S. shale output.
      
    In Indonesia, the benchmark index posted its third
straight session in the negative terrain, with financial stocks
being the main laggards.     


For Asian Companies click;  

SOUTHEAST ASIAN STOCK MARKETS
 Change on the day                            
 Market             Current   Previous close  Pct Move
 Singapore          3045.54   3114.25         -2.21
 Bangkok            1583.19   1601.48         -1.14
 Manila             7420.4    7520.4          -1.33
 Jakarta            6081.867  6089.305        -0.12
 Kuala Lumpur       1635.31   1641.62         -0.38
 Ho Chi Minh        927.25    933.65          -0.69
                                              
 Change on year                               
 Market             Current   End prev yr     Pct Move
 Singapore          3045.54   3402.92         -10.50
 Bangkok            1583.19   1753.71         -9.72
 Manila             7420.4    8,558.42        -13.30
 Jakarta            6081.867  6,355.65        -4.31
 Kuala Lumpur       1635.31   1796.81         -8.99
 Ho Chi Minh        927.25    984.24          -5.79
 


 (Reporting by Rashmi Ashok in Bengaluru, Editing by Sherry
Jacob-Phillips)
  
Nuestros Estándares:Los principios Thomson Reuters
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