January 29, 2019 / 10:19 AM / 7 months ago

SE Asia Stocks-Most fall on Sino-U.S. trade worries; Vietnam sole gainer

    * Huawei charges weigh on U.S.-China relations
    * Thailand snaps 9 straight sessions of gains

    By Mensholong Lepcha
    Jan 29 (Reuters) - Most Southeast Asian stock markets closed
lower on Tuesday, with Malaysia leading the decline and Thailand
snapping a nine-session winning streak, as concerns heightened
about Sino-U.S. trade relations after the United States charged
China's Huawei Technologies Co Ltd          with fraud.
    The U.S. Justice Department charged Huawei and its chief
financial officer with conspiring to violate U.S. sanctions on
Iran by doing business through a subsidiary it tried to hide and
that was reported on by Reuters in 2012 and 2013.
    In a separate case, the department charged the
telecommunications equipment maker with stealing robotic
technology from T-Mobile US Inc. Huawei has said the
companies settled their dispute in 2017.   
    A further escalation in the U.S.-China trade war will likely
trigger an even sharper global economic slowdown this year,
economists said in a recent Reuters poll.
    Meanwhile, China unveiled a flurry of measures aimed at
spurring sales of items ranging from cars and appliances to
information services.    
    Malaysian shares closed 0.4 percent lower with
investors nervously awaiting the latest round of China-U.S.
trade talks which will take place in Washington on Wednesday and
Thursday.
    Telecom firm Axiata Group Bhd lost 4.4 percent,
while chemical producer Petronas Chemicals Group fell
2 pct.
    Thai shares closed slightly lower, weighed down by
energy stocks. Index heavyweights PTT and PTT
Exploration and Production declined 1 percent and 2.5
percent, respectively.
    Investors now await January inflation data due on Friday for
clues about the economy. A Reuters poll showed the annual
headline inflation rate in January may have slowed from the
previous month and stayed below the central bank's target range
for a third straight month.
    Singapore shares fell 0.7 percent intraday before
recovering slightly to close 0.4 percent lower. Singapore
Airlines Ltd and Keppel Corp fell 1.1
percent and 0.8 percent, respectively.
    Vietnam shares were the sole gainers in Southeast
Asia, recovering from early losses to rise 0.4 percent. The
benchmark stock index closed higher for a fifth straight
session.
    Financial and real estate stocks were the top gainers, with
Vietcombank climbing over 2 percent and Vinhomes JSC
 rising more than 1 percent.
    
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SOUTHEAST ASIAN STOCK MARKETS
 Change on the day                               
 Market                 Current  Previous close  Pct Move
 Singapore              3187.69  3199.5          -0.37
 Bangkok                1624.05  1625.03         -0.06
 Manila                 8050.82  8053.92         -0.04
 Jakarta                6436.48  6458.712        -0.34
 Kuala Lumpur           1690.41  1697.5          -0.42
 Ho Chi Minh            915.93   912.18          0.41
                                                 
 Change so far in 2019                           
 Market                 Current  End 2018        Pct Move
 Singapore              3187.69  3068.76         3.88
 Bangkok                1624.05  1563.88         3.85
 Manila                 8050.82  7,466.02        7.83
 Jakarta                6436.48  6,194.50        3.91
 Kuala Lumpur           1690.41  1690.58         -0.01
 Ho Chi Minh            915.93   892.54          2.62
 
 (Reporting by Mensholong Lepcha; Editing by Subhranshu Sahu)
  
Nuestros Estándares:Los principios Thomson Reuters
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