October 2, 2019 / 10:20 AM / 8 months ago

UPDATE 1-SE Asia Stocks-Fall as weak U.S. manufacturing data spurs global growth slowdown fears

 (Updates Singapore and Thailand to close, updates table)
    By Shreya Mariam Job
    Oct 2 (Reuters) - Southeast Asian stock markets fell on
Wednesday, tracking broader global markets as weak U.S.
manufacturing data stoked fears of a global economic slowdown
and reignited concern over the impact of the U.S.-China trade
     U.S. manufacturing activity tumbled to a more than 10-year
low in September as lingering trade tensions weighed on exports.
    The news dragged most of the regional indexes to post losses
of more than 1 percent. Joel Ng, an analyst at KGI securities
said, "The moves are a bit more exaggerated because of lower
    The Philippine index slumped 1.7% closing at a near
four and a half month low following a large sell-off in the last
10 minutes of trade.
    Real estate and financial stocks weighed on the index, with
top property stocks SM Prime Holdings and Ayala Land Inc
shedding 1.8% and 2.4% respectively while BDO Unibank Inc
 dropped 4.5%.
    This comes after Philippines Central Bank Governor Benjamin
Diokno said he would rather online gambling operators left the
    These firms known in Philippines as POGOs (Philippine
offshore gambling operators) have been vital in drawing Chinese
tourists to the country, boosting property demand and retail
    However, the central bank chief said banning online gambling
will have little impact on the Philippines economy.
    Singapore stocks shed 1.4% hurt by financials.
    DBS Group Holdings Ltd shed 1.9%, while its
smaller lending peer United Overseas Bank dropped
    Indonesian shares deepened the fall over the session
to end 1.4% lower, with bigger losses mainly among financials
and materials stocks.
    An index of the country's 45 most liquid stocks
fell 1.9%.
    Bank Mandiri Tbk Pt dropped as much as 5.8% to its
lowest level in more than 11 months.
    Financial and industrial stocks pushed the Thai benchmark
stock index 0.6% lower, with Airports of Thailand
 slipping 1.7% and Kasikornbank dipping 3.2%.
    Kasirkonbank said it will start giving digital loans to
sellers on Sea Ltd's e-commerce business Shopee, in the
bank's latest digital partnership.
    However, Thai bank earnings have been under pressure from a
digital transaction fee waiver last year and slowing loan
    Elsewhere, real estate and financials dragged Vietnam stocks
, while Malaysian stocks were dragged lower by
financial and consumer stocks. 

For Asian Companies click;  

 Change on the day                                
 Market                 Current   Previous close  Pct Move
 Singapore              3103.45   3146.03         -1.35
 Bangkok                1613.64   1624.09         -0.64
 Manila                 7610.68   7739.86         -1.67
 Jakarta                6055.425  6138.25         -1.35
 Kuala Lumpur           1574.9    1589.44         -0.91
 Ho Chi Minh            991.19    999.59          -0.84
 Change so far in 2019                            
 Market                 Current   End 2018        Pct Move
 Singapore              3103.45   3068.76         1.13
 Bangkok                1613.64   1563.88         3.18
 Manila                 7610.68   7,466.02        1.94
 Jakarta                6055.425  6,194.50        -2.25
 Kuala Lumpur           1574.9    1690.58         -6.84
 Ho Chi Minh            991.19    892.54          11.05
 (Reporting by Shreya Mariam Job in Bengaluru; Editing by Hugh
Nuestros Estándares:Los principios Thomson Reuters
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