December 3, 2019 / 10:03 AM / 7 months ago

SE Asia Stocks-Most fall as U.S. tariffs spark fresh trade tensions

    * U.S. slaps tariffs on Brazil, Argentina
    * Also proposes duties on French imports 
    * Weak U.S. manufacturing data adds to gloom
    * Singapore falls for sixth time in seven sessions

    By Soumyajit Saha
    Dec 3 (Reuters) - Most Southeast Asian stock markets ended
lower on Tuesday as U.S. tariffs on Brazil and Argentina
threatened to aggravate global trade tensions, while weak U.S.
factory data added to the dour sentiment.    
   The Trump administration on Monday announced tariffs on U.S.
steel and aluminium imports from the Latam countries and vowed
duties of up to 100% on French goods.
    The announcements come when Washington and Beijing are
looking to resolve their protracted trade war that has throttled
global economic growth, with another round of U.S. tariffs due
to take effect on Dec. 15.
    "Ahead of the tariffs on China kicking in, we are expecting
caution in the market for the next two weeks too," said Joel Ng,
an analyst at Singapore-based KGI Securities. 
    Singapore shares fell for the sixth time in seven
sessions, hurt by losses in the financial and telecom sectors.
    Singapore Telecommunications was 1.2% lower, while
lender United Overseas Bank lost 0.9%.
    Telecom and banking stocks weighed on the Malaysian index
    Telecom company Axiata Group declined 1.2%, while
lender CIMB Group Holdings fell 0.8%.  
    Vietnam shares closed at their lowest level since the
end of June, dragged by consumer and banking stocks, while
losses in the consumer sector drove down the Philippine index
For Asian Companies click; 
 Change on the day                                
 Market                 Current   Previous close  Pct Move
 Singapore              3173.08   3187.97         -0.47
 Bangkok                1567.63   1569.53         -0.12
 Manila                 7855.18   7877.19         -0.28
 Jakarta                6133.896  6130.055        0.06
 Kuala Lumpur           1562.27   1570.55         -0.53
 Ho Chi Minh            953.43    959.31          -0.61
 Change so far in 2019                            
 Market                 Current   End 2018        Pct Move
 Singapore              3173.08   3068.76         3.40
 Bangkok                1567.63   1563.88         0.24
 Manila                 7855.18   7,466.02        5.21
 Jakarta                6133.896  6,194.50        -0.98
 Kuala Lumpur           1562.27   1690.58         -7.59
 Ho Chi Minh            953.43    892.54          6.82
 (Reporting by Soumyajit Saha in Bengaluru; Editing by Sriraj
Nuestros Estándares:Los principios Thomson Reuters
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