December 26, 2018 / 4:03 AM / 3 months ago

SE Asia Stocks-Most decline in line with global equity rout

    * Regional trading volumes subdued
    * Singapore index hits near 2-mth low
    * Thai benchmark recovers slightly after touching over
19-mth low

    By Ambar Warrick
    Dec 26 (Reuters) - Most Southeast Asian stock markets fell
tracking their global peers on Wednesday, with Singapore taking
the maximum hit, as continued concerns over political
uncertainty in the U.S. prompted investors to steer clear of
riskier assets.
    Local trading volumes were largely subdued due to the
holiday season.
    U.S. equities fell into a tailspin on Christmas eve as
investors fretted over a number of political issues, ranging
from the convening of a crisis group to reports of President
Trump considering the sacking of the Federal Reserve Chairman.
The drop created ripples across most equity markets around the
globe.
    "These are incredibly tricky markets to decipher as the
outsized moves are not reflective of the current U.S. economic
landscape, but that seems to matter little so far as fear
mongering continues to permeate every pocket of global capital
markets," said Stephen Innes, head of trading for Asia-Pacific
at futures brokerage Oanda in Singapore.
    Local equities followed suit, with Singapore's index
shedding more than 1 percent to drop to its lowest since
late-October. Losses in the island state were largely
broad-based, with financials and industrials serving as the
biggest weights on the benchmark.
    Shares of Lender DBS Group shed nearly 1.6
percent, while those of industrial conglomerate Jardine Matheson
Holdings fell 2.2 percent.
    Inflation in Singapore slowed slightly in November, implying
that the Monetary Authority may face lesser inflationary
pressure to tighten policy in the future. 
    The Thailand benchmark index edged up slightly after
slipping to its lowest level since May 2017, as oil and gas
heavyweight PTT PCL's counter took some support from a
mild rebound in oil prices. 
   The index had plunged more than 2 percent on Tuesday after
data showed that Thailand's manufacturing production rose lesser
than expected in November, which may put some pressure on
exports from the country in 2019.  
    Vietnam shares moved between positive and negative
territory.          
    
For Asian Companies click;  

SOUTHEAST ASIAN STOCK MARKETS AS AT 0354 GMT
    
 STOCK MARKETS                                
 Change on the day                            
 Market             Current   Previous close  Pct Move
 Singapore          3013.94   3051.06         -1.22
 Bangkok            1557.91   1556.65         0.08
 Manila             7442.59   7479.71         -0.50
 Jakarta            6132.214  6163.596        -0.51
 Kuala Lumpur       1664.01   1683.82         -1.18
 Ho Chi Minh        896.25    897.94          -0.19
                                              
 Change on year                               
 Market             Current   End 2017        Pct Move
 Singapore          3013.94   3402.92         -11.43
 Bangkok            1557.91   1753.71         -11.16
 Manila             7442.59   8558.42         -13.04
 Jakarta            6132.214  6355.654        -3.52
 Kuala Lumpur       1664.01   1796.81         -7.39
 Ho Chi Minh        896.25    984.24          -8.94
 
 (Reporting by Ambar Warrick in Bengaluru; Editing by Rashmi
Aich)
  
Nuestros Estándares:Los principios Thomson Reuters
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