February 24, 2017 / 4:58 AM / a year ago

SE Asia Stocks-Lower as Trump's protectionist tirade weighs

    Feb 24 (Reuters) - Southeast Asian stock markets were weaker
on Friday in the absence concrete economic drivers, with
investors across broader Asia wary after U.S. President Donald
Trump again accused China of currency manipulation.
    Trump called China the "grand champions" of currency
manipulation on Thursday, only hours after his new Treasury
secretary promised a more methodical approach to analysing
Beijing's foreign exchange practices.
    Trump's comments weighed on the already weakened sentiment
in export-reliant Asian economies, where investors have been
jittery over the new U.S. administration's protectionist stance.
    "Protectionist policies will definitely have a negative
impact on the regional markets, especially on those
export-dependent on the U.S.," said Lexter Azurin, head of
equities research at Manila-based Unicapital Secutrities Inc. 
    Singapore shares, which rose to a fresh 18-month high
in the previous session, fell 0.7 percent as investors booked
profit ahead of the release of last month's manufacturing data.
    A Reuters poll of 12 analysts forecast January industrial
production to have contracted 2.6 percent on a month-on-month
seasonally adjusted basis, after rising 6.4 percent in December.

    The oil and gas sector was the biggest loser, as oil prices
weakened, with rig builder Sembcorp Industries
dropping 2.7 percent.
     Consumer stocks also saw substantial selling, with Thai
Beverage PCL off 1.6 percent and gaming business
Genting Singapore down 1.5 percent.
    Philippine shares slipped for a second day, down 0.4
percent with broad losses in energy, industrials, and consumer
    Philippine coal explorer Semirara Mining, down 2.7
percent, was the biggest percentage loser on the index, while
real estate firm Ayala Land was the biggest net loser.
    Malaysian and Thai shares were off 0.4
percent and 0.1 percent, respectively.
    Indonesia was the region's only gainer, posting
minor gain of 0.1 percent.
For Asian Companies click;  

 Market                   Current   Previous Close  Pct Move
 Singapore                3117.85   3137.57         -0.63
 Bangkok                  1564.58   1567.32         -0.17
 Manila                   7304.88   7335.56         -0.42
 Jakarta                  5378.096  5372.748        0.10
 Kuala Lumpur             1698.2    1704.48         -0.37
 Ho Chi Minh              714.32    716.87          -0.36
 Change on year                                     
 Market                   Current   End 2016        Pct Move
 Singapore                3117.85   2880.76         8.23
 Bangkok                  1564.58   1542.94         1.40
 Manila                   7304.88   6840.64         6.80 
 Jakarta                  5378.096  5296.711        1.54
 Kuala Lumpur             1698.2    1641.73         3.44
 Ho Chi Minh              714.32    664.87          7.40
 (Reporting by Rushil Dutta; additional reporting by Susan
Mathew; Editing by Amrutha Gayathri)
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