April 11, 2019 / 10:07 AM / a year ago

SE Asia Stocks-Most end weaker on global growth worries, trade friction

    * Investors eye China March trade data
    * Malaysia posts third straight session of losses
    * Philippines snaps three sessions of gains 

    By Shreya Mariam Job
    April 11 (Reuters) - Most Southeast Asian stock markets
ended lower on Thursday, with Indonesia leading the declines, as
investors weighed warning signs of a slowing global economy amid
escalation of trade tensions between the United States and
European Union.
    Cautious tone of European and U.S. central banks fuelled
worries of a slowing global economy with threats of Washington
slapping new tariffs on European Union goods further dampening
    Investors are also eyeing China's March trade data due on
Friday, with exports expected to have rebounded in March after a
sharp drop in February, while imports likely shrank for a fourth
straight month but at a more modest pace, according to a Reuters
    Leading the losses in the region, the Indonesian index
 closed 1.1 percent lower as political uncertainties
multiplied ahead of the April 17 presidential elections. 
    Consumer and financial stocks dragged the index lower to a
near one-month closing low, with Astra International Tbk PT
 dropping 1.6 percent and Bank Mandiri (Persero) Tbk PT
 ending 2.6 percent weaker. 
    An index of the country's 45 most liquid stocks
declined 1.6 percent.         
    Malaysian equities closed nearly 1 percent weaker
after government data showed that the country's industrial
production in February rose at a slower pace compared with
    Malaysia's industrial production index rose 1.7 percent in
February from a year earlier, in line with the median estimate
among 10 economists surveyed by Reuters. However, the pace was
slower than January's growth, which came in at 3.2 percent
    "The first two months of activity data underpin our view of
slower GDP growth in the first quarter of 2019," Prakash Sakpal,
an economist with ING said in a note.
    "We have pencilled in a 25-basis point rate cut for the next
month to pre-empt any further growth downside in the rest of the
year," he added.
    Meanwhile, Malaysia's state-owned investment firm Khazanah
Nasional raised 1.05 billion ringgit ($255 million) through the
sale of 85 million Tenaga Nasional shares at the
bottom of a 12.33–12.58 ringgit range.
    Also weighing on sentiment were the major losses in Tenaga
Nasional. Shares of the utility firm closed 4.1 percent weaker
at their lowest in more than three-and-a-half years. 
    Philippine stocks snapped three sessions of gains to
close lower, with industrials contributing majority of the
    Shares of JG Summit Holdings Inc and Aboitiz Equity
Ventures Inc declined 4.3 percent and 2.9 percent,
    Vietnam stocks closed higher, snapping two sessions
of declines with real estate shares boosting the index.     
    For Asian Companies click;  

 Change on the day                                
 Market                 Current   Previous close  Pct Move
 Singapore              3330.82   3327.65          0.10
 Bangkok                1659.09   1662.13         -0.18
 Manila                 7955.8    8008.53         -0.66
 Jakarta                6410.166  6478.326        -1.05
 Kuala Lumpur           1624.23   1639.46         -0.93
 Ho Chi Minh            985.95    981.91           0.41
 Change so far in 2019                            
 Market                 Current   End 2018        Pct Move
 Singapore              3330.82   3068.76         8.54
 Bangkok                1659.09   1563.88         6.09
 Manila                 7955.8    7,466.02        6.56
 Jakarta                6410.166  6,194.50        3.48
 Kuala Lumpur           1624.23   1690.58         -3.92
 Ho Chi Minh            985.95    892.54          10.47
 (Reporting by Shreya Mariam Job in Bengaluru; Editing by Sherry
Nuestros Estándares:Los principios Thomson Reuters
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