September 12, 2018 / 10:24 AM / 10 months ago

SE Asia Stocks-Cautious; Philippines falls for 6th sesssion

    * Philippines at 7-week closing low
    * Singapore erases early losses, ends higher

    By Karthika Suresh Namboothiri
    Sept 12 (Reuters) - Southeast Asian stock markets ended on a
cautious note on Wednesday, as broader Asian peers hit a
14-month low amid worries of intensifying Sino-U.S. trade war,
with Philippine shares extending losses to a sixth straight
    Sentiment in broader Asia remained sombre with MSCI's
broadest index of Asia-Pacific shares outside Japan
 falling to its lowest levels since July 2017,
after China on Tuesday said it wanted to impose $7 billion a
year in sanctions on Washington.
    "South Asia market risk is an entirely different kettle of
fish, and 'when in doubt, stay out', as there are few clear-cut
risk decisions on the back of the looming China tariffs...,"
Stephen Innes, Head of Trading APAC, OANDA, said in a research
    The Philippine index fell nearly 1 percent to its
worst seven-week closing low, led by industrial stocks such as
JG Summit, down 5.5 percent, and Aboitiz Equity
Ventures which hit a more than five-year trough. 
    A weakness in emerging market currencies including the Peso,
coupled with quickening inflation in the Philippines has seen
Manila's benchmark index shedding nearly 5 percent over
the past six sessions.
    Meanwhile, Singapore shares reversed course to end
0.6 percent higher, with lender Oversea-Chinese Banking Corp
 climbing nearly 1 percent and shipbuilder Keppel Corp
 gaining 2.2 percent.
    Data showed that the city-state's total retail sales for
July declined 2.6 percent from a year earlier, dragged by a fall
in motor vehicles sales.
    "Market concerns about U.S.-Sino trade tensions could have
contributed to dampened domestic consumer sentiments," OCBC Bank
said in a note.
    Indonesian shares erased early gains and ended 0.6
percent lower. Bank Central Asia and Telekom Indonesia
, down about 2 percent each, were the biggest drags on
the index. An index of the country's 45 most liquid stocks
 shed 0.7 percent.
    Malaysian shares declined 0.8 percent to a near
four-week low. Telecom group Axiata lost 2.2 percent.
    Thailand ended 0.4 percent higher while Vietnam
 added 0.2 percent.
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 Change on day                             
 Market          Current   Previous Close  Pct Move
 Singapore       3124.65   3109.91         0.47
 Bangkok         1679.39   1672.42         0.42
 Manila          7449.2    7518.01         -0.92
 Jakarta         5798.151  5831.117        -0.57
 Kuala Lumpur    1785.25   1799.17         -0.77
 Ho Chi Minh     987.01    985.06          0.20
 Change on year                            
 Market          Current   End 2017        Pct Move
 Singapore       3124.65   3402.92         -8.18
 Bangkok         1679.39   1753.71         -4.24
 Manila          7449.2    8558.42         -12.96
 Jakarta         5798.151  6355.654        -8.77
 Kuala Lumpur    1785.25   1796.81         -0.64
 Ho Chi Minh     987.01    984.24          0.28

 (Reporting by Karthika Suresh Namboothiri; Editing by Vyas
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