June 12, 2019 / 3:46 AM / in 8 days

SE Asia Stocks-Most fall on China growth fears, trade standoff

    * Malaysia drops to lowest since May 31
    * Singapore on track for fifth straight gain
    * Philippines closed for holiday 

    By Shreya Mariam Job
    June 12 (Reuters) - Most Southeast Asian stock markets fell
on Wednesday, with Malaysia leading declines, as escalating
tensions on the U.S.-China trade front and concerns of slowing
growth in China curbed risk sentiment.
    Broader Asian markets were also tepid with investor
sentiment soured by deepening dents in the Sino-U.S. trade
negotiations and China growth worries.
    MSCI's broadest index of Asia-Pacific shares outside Japan
 was off 0.38% after two days of gains.
    "Expect investors to remain antsy with U.S. Commerce
Secretary expecting no major breakthrough deals, while official
rhetoric from China continues to harden," OCBC said in a note.
    China vowed a tough response if the United States insists on
escalating trade tensions amid ongoing negotiations, after U.S.
President Donald Trump said he was ready to impose another round
of punitive tariffs on China. 
    "Tariffs are a great negotiating tool," Trump tweeted On
Tuesday.
    Meanwhile, China's factory gate inflation slowed in May amid
sluggish commodity demand and faltering manufacturing activity ,
fuelling worries growth in the world's second-largest economy is
slipping. Consumer prices, however, soared at their fastest pace
in over a year.
    Malaysian stocks dropped as much as 0.5% to their
lowest since May 31, dragged by telecom and utility shares.
    Maxis Bhd dropped 1.4%, while Tenaga Nasional Bhd
 slid 1.8%.
    Indonesian stocks dipped 0.3%, dragged by telecom
stocks.
    Telekomunikasi Indonesia Tbk Pt, which trades
ex-dividend from Wednesday, dipped 2.7%.
    Indonesia's central bank sees economic growth of 5.1-5.5% in
2020, while continuing to monitor global economic conditions to
assess whether there is scope for an "accommodative monetary
policy", Bank Indonesia governor Perry Warjiyo said on Tuesday.

    Thai shares dipped hurt by broad based losses.
Bangkok Dusit Medical Services PCL and PTT PCL
 dropped 2.5% and 0.5%, respectively. 
    Bucking the trend, Singapore stocks rose and were on
track to post their fifth straight session of gains.
    DBS Group Holdings Ltd and Jardine Cycle &
Carriage Ltd firmed 0.7% and 1.9%, respectively. 
    Philippine market was closed for a holiday.
        
For Asian Companies click;  

SOUTHEAST ASIAN STOCK MARKETS As at 0316 GMT
 Change on the day                                
 Market                 Current   Previous close  Pct Move
 Singapore              3215.52   3209.58         0.19
 Bangkok                1666.47   1670.41         -0.24
 Jakarta                6285.814  6305.992        -0.32
 Kuala Lumpur           1642.98   1651.2          -0.50
 Ho Chi Minh            959.04    962.07          -0.31
                                                  
 Change so far in 2019                            
 Market                 Current   End 2018        Pct Move
 Singapore              3215.52   3068.76         4.78
 Bangkok                1666.47   1563.88         6.56
 Jakarta                6285.814  6,194.50        1.47
 Kuala Lumpur           1642.98   1690.58         -2.82
 Ho Chi Minh            959.04    892.54          7.45
 
 (Reporting by Shreya Mariam Job in Bengaluru; editing by
Gopakumar Warrier)
  
Nuestros Estándares:Los principios Thomson Reuters
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