January 8, 2019 / 3:46 AM / 5 months ago

SE Asia Stocks-Most fall as markets uncertain about Sino-U.S. trade deal

    * Philippine stocks slip 0.8 pct
    * Indonesian index snaps three sessions of gains

    By Niyati Shetty
    Jan 8 (Reuters) - Most Southeast Asian markets declined on
Tuesday as investors remain sceptical about a resolution to the
long-drawn Sino-U.S. trade war despite positive comments on the
ongoing negotiations. 
    U.S. and Chinese officials resumed talks in Beijing, with
U.S. Commerce Secretary Wilbur Ross predicting on Monday that
the world's largest economies would reach a trade deal that they
could "live with".
    "We have to look at it from a slightly bigger picture. You
cannot view it by a day by day basis because the trade deal is
not a one-day thing," said Charles William Ang, associate
analyst at COL Financial Group Inc. 
    "There might be recent developments but it has been an issue
for quite sometime now so you cannot really judge the impact." 
    The Philippine index led declines in the region,
falling as much as 0.9 percent, dragged by real estate and
financial stocks. 
    Conglomerate Ayala Corp fell 4.1 percent while SM
Prime Holdings Inc declined 3 percent, hurting the
Manila index. 
    Further dampening the mood, a U.S. guided-missile destroyer
sailed near disputed islands in the South China Sea as the talks
began on Monday, in what China called a "provocation".

    While China claims almost all of the strategic waters, most
Southeast Asian nations have competing claims in the region.
    Vietnam stocks skid 0.6 percent with real estate firm
No Va Land Investment Group Corp falling as much as 6.9
percent, its lowest in more than five months.
    Bucking the trend, Singapore's benchmark index was
marginally higher with major lenders DBS Group Holdings Ltd
 and Oversea-Chinese Banking Corporation Ltd
rising 0.6 percent and 0.7 percent, respectively. 
    The Malaysian index was marginally lower, while Thai
stocks and the Indonesian benchmark traded
sideways.
        
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SOUTHEAST ASIAN STOCK MARKETS AS AT 0326 GMT
 Market                 Current   Previous close  Pct Move
 Singapore              3111.28   3102.8          0.27
 Bangkok                1593.6    1592.72         0.06
 Manila                 7726.99   7787.66         -0.78
 Jakarta                6286.544  6287.224        -0.01
 Kuala Lumpur           1676.01   1679.17         -0.19
 Ho Chi Minh            884.72    889.64          -0.55
                                                  
 Change so far in 2019                            
 Market                 Current   End 2018        Pct Move
 Singapore              3111.28   3068.76         1.39
 Bangkok                1593.6    1563.88         1.90
 Manila                 7726.99   7,466.02        3.50
 Jakarta                6286.544  6,194.50        1.49
 Kuala Lumpur           1676.01   1690.58         -0.86
 Ho Chi Minh            884.72    892.54          -0.88
 
 (Reporting by Niyati Shetty in Bengaluru; Editing by Sunil
Nair)
  
Nuestros Estándares:Los principios Thomson Reuters
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