November 1, 2019 / 9:48 AM / a month ago

SE Asia Stocks-Most fall on U.S.-China trade jitters; Vietnam gains

    * Vietnam surges as real estate stocks shine
    * Indonesian stocks the only weekly loser
    * Philippine markets closed for holiday

    By Anushka Trivedi
    Nov 1 (Reuters) - Most Southeast Asian stock markets
retreated on Friday, as investors fled risky assets after China
expressed doubts over signing a comprehensive trade deal with
the United States, while Vietnam surged buoyed by gains in real
estate shares. 
    A Bloomberg report on Thursday said that Chinese officials
told visitors to Beijing that it will not budge on the thorniest
issues and is concerned about the risk that U.S. President
Donald Trump could back out of the interim deal.
    For the market to slip further, it will require the recent
disquiet from the Chinese on trade deals to broaden into
something more unsettling, plus a further deterioration in the
U.S. economy, both of which seem eminently plausible, said
Robert Carnell, head of research, Asia-Pacific at ING.
    Thai shares led the fall in the region, with telco
and consumer sectors dominating losses on the benchmark. Shares
of retailer CP ALL PCL fell 2.6% and telco Advanced
Info Service PCL dropped 1.8%. 
    Malaysian shares followed suit to slip 0.3% amid
broad-based losses. However, the index added 1.5% for the week.
    Public Bank Bhd and state-run gas distributor
Petronas Gas Bhd shed about 2.4% and 1.6%,
    Indonesia's main index dipped 0.3% on weakness in
consumer and telecom stocks. The benchmark shaved off 0.7% over
the week.
    Heavyweight Telekomunikasi Indonesia (Persero) Tbk PT
 slid for third straight session to close at a
three-month low after reporting disappointing quarterly results
on Wednesday.    
    Singapore's benchmark recovered some of its early
losses to end the session flat, but added 1.3% for the week.
    Trade-sensitive industrial stocks were the hardest hit, with
Jardine Strategic Holdings Ltd dropping 1.3%.
    Meanwhile, the Vietnam bourse surged 1.7%,
underpinned by real estate stocks. The index added almost 2%
this week.  
    Vietnam has emerged as one of the largest beneficiaries of
the trade war between Beijing and Washington, as some businesses
are shifting their supply chains away from China in order to
avoid tariffs.
    Big-cap firms Vinhomes Joint Stock Company and
Vingroup Joint Stock Company jumped 7% and 2.9%,
    Philippine markets were closed for a public holiday.
For Asian Companies click;  

 Change on the day                                
 Market                 Current   Previous close  Pct Move
 Singapore              3229.43   3229.88         -0.01
 Bangkok                1592.52   1601.49         -0.56
 Jakarta                6207.191  6228.317        -0.34
 Kuala Lumpur           1593.34   1597.98         -0.29
 Ho Chi Minh            1015.59   998.82          1.68
 Change so far in 2019                            
 Market                 Current   End 2018        Pct Move
 Singapore              3229.43   3068.76         5.24
 Bangkok                1592.52   1563.88         1.83
 Jakarta                6207.191  6,194.50        0.20
 Kuala Lumpur           1593.34   1690.58         -5.75
 Ho Chi Minh            1015.59   892.54          13.79

 (Reporting by Anushka Trivedi in Bengaluru; Editing by Rashmi
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