September 12, 2019 / 10:12 AM / 10 months ago

SE Asia Stocks-Most fall as U.S.-China trade thaw fails to impress investors

    * Telekom Indonesia hits over 1-month low
    * Singapore snaps three straight sessions of gains 
    * Malaysia's central bank holds interest-rate steady

    By Anushka Trivedi
    Sept 12 (Reuters) - Most Southeast Asian stock markets
closed lower on Thursday, with Indonesia falling the most, as
signs of relief in the U.S.-China trade conflict failed to boost
    U.S. President Donald Trump on Wednesday reciprocated to
Beijing's move to exempt levying charges on some American
imports by announcing a two-week delay to a scheduled tariff
increase on $250 billion worth of Chinese goods.
    "External environment has turned worse since the last
meeting, with further tariffs being imposed. Heightened trade
tension is clearly set to stay despite resumption of trade talks
and this will continue to cast a dark cloud over global economy"
analysts at Mizuho said in a note.
    In a thin trading session, Indonesian benchmark
slipped 0.6%, dented by a near 2% fall in PT Telekomunikasi
Indonesia Tbk's stock.
    The country's biggest telecom services provider hit its
lowest in over one month, as it faces hurdles by launch of
Stroomnet, a new broadband service by a state-run electricity
corporation, said  Anugerah Zamzami Nasr, an equity research
analyst at Phillip Sekuritas Indonesia.
    "Furthermore, recent interest from CK Hutchison to
acquire XL Axiata could be viewed as a slight
challenge to Telekom's market share and pricing power", he
    Philippine stocks dropped 0.3%, with heavyweights
such as SM Investment Corp and fast-food retailer
Jollibee Foods Corp losing 1.1% and 1.7%, respectively.
    Singapore's main index snapped a three-day gaining
streak to end 0.3% lower, with industrial conglomerate Jardine
Matheson Holdings losing the most on the benchmark.
    Jardine Matheson's stock fell 4% on Thursday after adding
about 8.3% in the past three days. 
    Malaysian shares dipped slightly after the country's
central bank stood pat on its key interest rate, in line with a
Reuters consensus.
     Bank Negara Malaysia expects the export-reliant nation's
economy to hold its ground on the back of resilient domestic
activity, but has flagged concerns arising from the Sino-U.S.
trade war. 
    Bucking the regional trend, Vietnam shares gained

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 STOCK MARKETS                                    
 Change on the day                                
 Market                 Current   Previous close  Pct Move
 Singapore              3194.96   3204.52         -0.30
 Bangkok                1660.68   1674.03         -0.80
 Manila                 7944.43   7967.90         -0.29
 Jakarta                6342.174  6381.954        -0.62
 Kuala Lumpur           1601      1602.3          -0.08
 Ho Chi Minh            976.07    969.31          0.70
 Change so far in 2019                            
 Market                 Current   End 2018        Pct Move
 Singapore              3194.96   3068.76         4.11
 Bangkok                1660.68   1563.88         6.19
 Manila                 7944.43   7,466.02        6.41
 Jakarta                6342.174  6,194.50        2.38
 Kuala Lumpur           1601      1690.58         -5.30
 Ho Chi Minh            976.07    892.54          9.36
 (Reporting by Anushka Trivedi in Bengaluru; editing by
Nuestros Estándares:Los principios Thomson Reuters
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