August 15, 2019 / 4:29 AM / 4 days ago

SE Asia Stocks-Track global selloff on recession fears; Philippines sinks

    * Thai stocks hurt by losses in telecom sector
    * Indonesia down ahead of trade data

    By Soumyajit Saha
    Aug 15 (Reuters) - Southeast Asian stock markets fell on
Thursday, tracking sharp losses in global equities, after an
inversion in the U.S. bond yield curve on Wednesday raised fears
of an impending recession.
    The yield on the U.S. Treasury 10-year note
temporarily fell below the two-year yield for the
first time since 2007, in the latest signal that the global
economy faces severe risks. The inversion has correctly
predicted every recession barring one in the last 50
years.
    "The risk of the U.S. slipping into recession becomes more
prominent with latest Treasury yield curve inversion," ING said
in a note. It follows data from China on Wednesday that showed
its economy was faltering, with industrial output growth slowing
to a 17-year low.
    With the world's two largest economies showing signs of
slowing growth, and global central banks turning increasingly
dovish, most investors seem to be risk-averse. 
    Philippine stocks dropped the most in the region,
with losses centered around the financial sector. The index was
down about 2%, easing a good percent from early trade.
    Property developer SM Prime Holdings and lender
BDO Unibank were down 3.7% each.
    Singapore followed closely behind, down 1.2%, with
heavyweight financial stocks tugging.
    Lenders Oversea-Chinese Banking Corp and United
Overseas Bank fell 3.8% and 3.4%, respectively.
    In Thailand, stocks were hurt by the telecom sector,
with Advanced Info Services losing 3.1%. 
    Meanwhile, banking stocks weighed on the Malaysian index
, with heavyweights Public Bank BHD and Hong
Leong Bank BHD losing 0.7% and 2% respectively.
    Indonesian shares also fell ahead trade data that is
expected to show the country return to a deficit amid global
trade weakness, according to a Reuters poll.   

For Asian Companies click;  

SOUTHEAST ASIAN STOCK MARKETS AS AT 0417 GMT
 STOCK MARKETS                                    
 Change on the day                                
 Market                 Current   Previous close  Pct Move
 Singapore              3100.82   3147.6          -1.49
 Bangkok                1592.05   1619.45         -1.69
 Manila                 7703.57   7858.65         -1.97
 Jakarta                6205.924  6267.335        -0.98
 Kuala Lumpur           1588.07   1600.31         -0.76
 Ho Chi Minh            967.34    968.91          -0.16
                                                  
 Change so far in 2019                            
 Market                 Current   End 2018        Pct Move
 Singapore              3100.82   3068.76         1.04
 Bangkok                1592.05   1563.88         1.80
 Manila                 7703.57   7,466.02        3.18
 Jakarta                6205.924  6,194.50        0.18
 Kuala Lumpur           1588.07   1690.58         -6.06
 Ho Chi Minh            967.34    892.54          8.38
 
 (Reporting by Soumyajit Saha; editing by Uttaresh.V)
  
Nuestros Estándares:Los principios Thomson Reuters
0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below