March 25, 2019 / 4:32 AM / 3 months ago

SE Asia Stocks-Tumble on U.S. recession fears; Thailand falls 1 pct ahead of election results

    * Philippine shares worst performer in the region
    * Singapore shares 1.7 pct lower, inflation data awaited

    By Shanima A
    March 25 (Reuters) - Southeast Asian stock markets fell on
Monday, in line with broader Asia, as investors sought refuge in
safer assets on U.S. recession worries, with Philippines taking
the worst hit
    Thailand slipped more than 1 percent ahead of the results of
the kingdom's first elections since a 2014 coup.
    Stocks around the world were under pressure as investors
fled to the safety of bonds after cautious remarks by the U.S.
Federal Reserve last week on cooling economy sent the 10-year
treasury yields below the three-month rate for the first time
since 2007 embedding interest rate curve inversion.
    Traditionally, an inverted yield curve - where long-term
rates fall below short-term - has signalled an impending
recession.
    MSCI's broadest index of Asia-Pacific shares outside Japan
 dropped 0.6 percent to a one-week low.
    Thailand was awaiting the outcome of elections for the lower
house - the country's first since a 2014 army coup. The
unofficial result is expected Monday afternoon.
    With 93 percent of overall votes counted, the Election
Commission reported junta chief Prayuth Chan-ocha's Palang
Pracharat party was leading with 7.64 million votes, indicating
prospects of Prayuth Chan-ocha to remain as prime minister of
the country.
    Analysts saw Thai stocks tracking a global decline in
equities on Monday, with the benchmark index falling as
much as 1 percent.
    Morgan Stanley said in note on Sunday, "We will watch how
alliances settle over the next 72 hours to get a better gauge of
political control in the lower house. We think this will be key
for foreigners to return after their net sales of  about $7
billion of Thai equities over the last 12 months."
    The Philippine index, the worst performer in the
region, dipped as much as 2.5 percent to a one-week low, hurt by
losses in financials and industrial stocks.
    Singapore index fell to a two-month low, declining
1.7 percent, led by a 2 percent fall in DBS Group Holdings Ltd
 shares.
    Investors are awaiting the city state's headline inflation
rate for February, due later in the day. 
         
For Asian Companies click;  

SOUTHEAST ASIAN STOCK MARKETS AT 0419 GMT
    
 Market                 Current   Previous close  Pct Move
 Singapore              3166.49   3212.1          -1.42
 Bangkok                1633.3    1646.29         -0.79
 Manila                 7817.33   8013.42         -2.45
 Jakarta                6435.338  6525.274        -1.38
 Kuala Lumpur           1651.39   1666.66         -0.92
 Ho Chi Minh            971.28    988.71          -1.76
                                                  
 Change so far in 2019                            
 Market                 Current   End 2018        Pct Move
 Singapore              3166.49   3068.76         3.18
 Bangkok                1633.3    1563.88         4.44
 Manila                 7817.33   7,466.02        4.71
 Jakarta                6435.338  6,194.50        3.89
 Kuala Lumpur           1651.39   1690.58         -2.32
 Ho Chi Minh            971.28    892.54          8.82
 
 (Reporting by Shanima A in Bengaluru; Editing by Rashmi Aich)
  
Nuestros Estándares:Los principios Thomson Reuters
0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below