September 3, 2019 / 4:33 AM / 18 days ago

SE Asia Stocks-Malaysia falls on weak factory data, Singapore advances

    * Malaysia Aug manufacturing PMI lowest since March
    * Singapore, Thailand buck downward trend

    By Nikhil Subba
    Sept 3 (Reuters) - Malaysia stocks fell nearly 1% on
Tuesday after disappointing factory data and most others in the
region were subdued on rising U.S.-China trade tensions, while
Singapore edged up ahead of key manufacturing numbers.
    The United States and China imposed additional tariffs on
each other's goods over the weekend, which rekindled worries of
a global recession. 
    "In terms of trading activity there's not much, so even if
it's moving up, activity is not much. It's just a bounce because
everyone is very tentative," said Rachelle Cruz, an analyst at
AP Securities.
    Investors are looking ahead to the likelihood of the next
round of tariffs expected in October and the outcome of the U.S.
Federal Reserve meeting in September, Cruz said.
    Malaysia stocks declined after data on Tuesday
showed that the country's manufacturing performance for August
fell fractionally to its lowest since March.
    Dialog Group, a provider of technical services to
the oil and gas sector, was the top loser on the Malaysian
benchmark, followed by tourist resort operator Genting Malaysia
, both falling about 1%.
    The Philippine index slipped 0.3%, pressured by
industrials and telecom stocks. Infrastructure developer Metro
Pacific Investments Corp tumbled 2.2%, while Globe
Telecom Inc fell 1.9%.     
    Indonesia's benchmark was down marginally, weighed
down by utilities and telecom services.
    Meanwhile, Singapore's Straits Times Index inched up,
boosted by utilities and industrial stocks, ahead of August
manufacturing data expected later in the day.
    The data will throw light on the country's economy, which
depends heavily on manufacturing and shipping of electronic
products against the backdrop of a global slowdown.
    Sembcorp Industries climbed 2.5%, while Jardine
Matheson Holdings advanced as much as 1.2%.
    
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SOUTHEAST ASIAN STOCK MARKETS AT 0424 GMT 
 Market                 Current   Previous close  Pct Move
 Singapore              3090.43   3082.96         0.24
 Bangkok                1657.7    1654.11         0.22
 Manila                 7900.85   7918.53         -0.22
 Jakarta                6281.698  6290.546        -0.14
 Kuala Lumpur           1598.06   1612.14         -0.87
 Ho Chi Minh            982.92    984.06          -0.12
                                                  
 Change so far in 2019                            
 Market                 Current   End 2018        Pct Move
 Singapore              3090.43   3068.76         0.71
 Bangkok                1657.7    1563.88         6.00
 Manila                 7900.85   7,466.02        5.82
 Jakarta                6281.698  6,194.50        1.41
 Kuala Lumpur           1598.06   1690.58         -5.47
 Ho Chi Minh            982.92    892.54          10.13
 
 (Reporting by Nikhil Subba in Bengaluru; Editing by Sriraj
Kalluvila)
  
Nuestros Estándares:Los principios Thomson Reuters
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