September 30, 2019 / 4:21 AM / 19 days ago

SE Asia Stocks-Most markets start week on subdued note on trade worries

    * Indonesia on track for second monthly drop
    * Thailand slips ahead of August trade data

    By Soumyajit Saha
    Sept 30 (Reuters) - Most Southeast Asian stock markets
opened lower on Monday as fears mounted of an escalation in
Sino-U.S. trade tensions after news that Washington is
considering de-listing Chinese companies from U.S. stock
exchanges.
    The U.S. administration is considering de-listing Chinese
companies to limit U.S. investment in Chinese companies, Reuters
reported on Friday quoting sources briefed on the matter.

    "The timing of this story right on the cusp of another round
of high-level trade talk between the world's most massive
economies adds another layer of muck to an already befouled
trade war narrative," said Stephen Innes, Asia Pacific market
strategist at AxiTrader.
    Adding to the gloom, China's factory activity shrank for the
fifth straight month in September, pointing to persistent
pressure on Southeast Asia's biggest trading partner from the
protracted trade war.
    Indonesian shares fell the most in Southeast Asia,
weighed down by financial and consumer stocks. 
    Consumer goods company Unilever Indonesia lost
1.3%, while lender Bank Central Asia was down 0.7%.
    An index of Indonesia's 45 most liquid stocks was
0.7% lower.
    For the month, Indonesian shares were down over 2%, heading
for a second straight monthly drop.
    Singapore shares fell, dragged by industrial and
telecommunication stocks, but were on track to post their first
monthly gain in three.
    Thai shares edged lower ahead of August trade
balance data. Exports rose 3.8% on year in July, but current
account surplus narrowed from a month earlier.
    Finance and consumer stocks led the losses. Lender
Kasikornbank PCL slipped 1.6%, while convenience
stores operator CP All PCL lost 0.6%.
    Thai shares were down 0.7% for the month, on track for a
third monthly drop.
    Vietnam shares edged higher, helped by the real
estate sector. Vingroup JSC rose 0.9%, while Vinhomes
JSC rose 0.6% each.
    Vietnam's economic growth quickened to 7.31% in the third
quarter year-on-year, the General Statistics Office said on
Saturday. The Asian Development Bank had said earlier that it
maintained its forecast for Vietnam's growth for this year at
6.8%, and for next year at 6.7%.
    
    For Asian Companies click;  

SOUTHEAST ASIAN STOCK MARKETS AS AT 0410 GMT
  STOCK MARKETS                                             
  Change on the day                                         
  Market             Current        Previous      Pct Move
                                    close         
  Singapore          3116.05        3125.63       -0.31
  Bangkok            1638.7         1643.76       -0.31
  Manila             7811.67        7819.22       -0.10
  Jakarta            6165.277       6196.889      -0.51
  Kuala Lumpur       1585.2         1584.14       0.07
 Ho Chi Minh         1002.94        997.84        0.51
                                                  
  Change so far in                                
 2019                                             
  Market             Current        End 2018      Pct Move
  Singapore          3116.05        3068.76       1.54
  Bangkok            1638.7         1563.88       4.78
  Manila             7811.67        7,466.02      4.63
  Jakarta            6165.277       6,194.50      -0.47
  Kuala Lumpur       1585.2         1690.58       -6.23
  Ho Chi Minh        1002.94        892.54        12.37
 

 (Reporting by Soumyajit Saha in Bengaluru; Editing by
Subhranshu Sahu)
  
Nuestros Estándares:Los principios Thomson Reuters
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