November 13, 2019 / 10:07 AM / a month ago

SE Asia Stocks-Slide as trade uncertainty, HK unrest hurt risk sentiment

    * Singapore stocks with Hong Kong exposure drop
    * Singapore leads falls with 0.9% decline

    By Rashmi Ashok
    Nov 13 (Reuters) - Southeast Asian stock markets skidded on
Wednesday as investors sold off risky assets amid uncertainty
surrounding the extent of progress in Sino-U.S. trade talks and
intensifying protests in Hong Kong.
    In a speech at the Economic Club of New York, U.S. President
Donald Trump said the signing of an initial trade deal was
close, but did not offer further details on dates or the terms
of the agreement.
    "Risk aversion appears to be creeping back into the
markets," Han Tan, a market analyst at brokerage FXTM, said in a
note.
    Asian stocks fell despite their U.S. counterparts
tantalisingly close to setting record highs, as investors
continue to sieve through potential signals from the noise
surrounding the trade deal, he wrote.
    Curbing risk appetite further, anti-government protests
continued to cause disruption in Hong Kong. The Hang Seng index
 fell nearly 2% to a four-week low in late trade.
    Singapore shares closed 0.9% lower. Hongkong Land
Holdings, a property manager with large assets in Hong
Kong, fell 3.4% and was among the top percentage losers.
    Conglomerate Jardine Strategic Holdings, which also
has significant interests in the Greater China region and is the
majority stakeholder in Hongkong Land, traded 4% lower.
    Philippine stocks posted deep losses, dragged by
heavyweights like Globe Telecom Inc and Ayala Corp
, which fell 2.1% and 1.9%, respectively.
    Indonesian stocks traded 0.6% lower, dragged by
consumer stocks like household products maker Unilever Indonesia
Tbk and animal feed maker Charoen Pokphand Indonesia
Tbk.
    An index of Indonesia's 45 most liquid stocks
declined 1%. 
    Malaysian stocks slid 0.8%, dragged by a 5.4% drop
in index heavyweight Petronas Chemicals Group, after
the chemicals maker posted a steep fall in third-quarter profit.
        
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SOUTHEAST ASIAN STOCK MARKETS 
    
 Change on the day                                
 Market                 Current   Previous close  Pct Move
 Singapore              3239.22   3267.8          -0.87
 Bangkok                1615.14   1626.2          -0.68
 Manila                 7947.47   8012.34         -0.81
 Jakarta                6142.501  6180.992        -0.62
 Kuala Lumpur           1597.22   1609.73         -0.78
 Ho Chi Minh            1012.77   1018.33         -0.55
                                                  
 Change so far in 2019                            
 Market                 Current   End 2018        Pct Move
 Singapore              3239.22   3068.76         5.55
 Bangkok                1615.14   1563.88         3.28
 Manila                 7947.47   7,466.02        6.45
 Jakarta                6142.501  6,194.50        -0.84
 Kuala Lumpur           1597.22   1690.58         -5.52
 Ho Chi Minh            1012.77   892.54          13.47
 
 (Reporting by Rashmi Ashok in Bengaluru; Editing by Subhranshu
Sahu)
  
Nuestros Estándares:Los principios Thomson Reuters
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