July 2, 2019 / 4:00 AM / a year ago

SE Asia Stocks-Singapore falls, most others subdued after weak data

    * Singapore slips after 1.5% gain on Monday
    * Investors cautious after weak PMI data - analyst
    * Most trading volumes at fraction of 30-day average

    By Rashmi Ashok
    July 2 (Reuters) - Singapore shares fell on Tuesday with
most other Southeast Asian stock markets remaining subdued, as
worries over weakening manufacturing activity and slowing
economic growth hit risk appetite and dimmed enthusiasm around
the Sino-U.S. trade truce.
    A host of disappointing manufacturing activity data for June
from various countries spoke tales of slowing economies, with
activity across U.S. and Europe sharply slowing.
    Investors kept to the sidelines awaiting further catalysts,
with trading volumes of across most regions at just a fraction
of their 30-day average.
    Singapore's index fell 0.6%, after a massive 1.5%
gain in the previous session, its highest in nearly two months.
The index rose 8.1% in the last one month. Most large-cap stocks
saw some profit taking, with Venture Corp down 1.9%
and lender DBS Group Holdings giving up 0.5%.
    "Investors are being cautious because economic data, such as
PMIs, have been weak," said Liu Jinshu, director of research at
Tayrona Financial Pte Ltd.
    "Hence, attention is turning towards the earnings season
with investors looking for cues from major companies such as the
large semiconductor companies," he added. 
    Meanwhile, Malaysia's index was the sole region
which managed to post modest gains, rising 0.6%. Oil and gas
refiner Petronas Dagangan added 1.2% while electric
utilities provider Tenaga Nasional rose 1.3%.
    Investors appeared to shrug off Monday's data, which showed
the country's June manufacturing activity slipping. Analysts
were of the view that the current challenges to Malaysia's
manufacturing sector would likely change course soon.
    "The challenging environments are expected to be
short-lived, as businesses became more optimistic towards the
future. Sentiment about the outlook has strengthened to its
highest since October 2013," MIDF Research said in a note.
    "The recent positive development in the U.S.-China trade
tensions supports the expectation. We anticipate that the
economy will grow better in 2Q19 onwards," MIDF added.
    The Indonesian benchmark inched higher, with
cigarette maker Gudang Garam Tbk and telecom company
Indosat Tbk rising 1.7% and 1%, respectively.
    Philippine stocks also rose, helped by gains in
conglomerates such as SM Investments Corp and telco
Globe Telecom Inc.  
    Thailand's index slipped, as falling energy prices
put pressure on its heavyweight energy stocks. Vietnam's
index also traded lower.
For Asian Companies click;  

 Change on the day                                
 Market                 Current   Previous close  Pct Move
 Singapore              3353.32   3372.26         -0.56
 Bangkok                1736.61   1740.91         -0.25
 Manila                 8073.13   8043.71         0.37
 Jakarta                6385.975  6379.688        0.10
 Kuala Lumpur           1692.87   1683.62         0.55
 Ho Chi Minh            963.14    965.61          -0.26
 Change so far in 2019                            
 Market                 Current   End 2018        Pct Move
 Singapore              3353.32   3068.76         9.27
 Bangkok                1736.61   1563.88         11.04
 Manila                 8073.13   7,466.02        8.13
 Jakarta                6385.975  6,194.50        3.09
 Kuala Lumpur           1692.87   1690.58         0.14
 Ho Chi Minh            963.14    892.54          7.91

 (Reporting by Rashmi Ashok in Bengaluru; Editing by Rashmi
Nuestros Estándares:Los principios Thomson Reuters
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