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SE Asia Stocks-Most fall as Trump crisis intensifies
May 18, 2017 / 4:12 AM / 7 months ago

SE Asia Stocks-Most fall as Trump crisis intensifies

    By Anusha Ravindranath
    May 18 (Reuters) - Most Southeast Asian stock markets fell
on Thursday, tracking weakness in global markets as concerns
mounted over U.S. President Donald Trump's future following
reports that he tried to influence a federal probe.
    The allegations have not only thrown doubt over the future
of the pro-growth policies that Trump promised, but they have
raised the possibility he could end up leaving the presidency.

    "Since obstruction of justice is considered to be an
impeachable offence, I think that's what is keeping most
investors worried," said Victor Felix, an equity analyst with AB
Capital Securities.
    "The story is still developing at the U.S. end and pretty
much everyone is tracking that right now. Traders would be
moving to safe-haven assets and I think we are going to continue
to see selling pressure in Asian equities." 
    Wall Street was sold off overnight with the S&P 500
and the Dow notching their biggest one-day fall since
Sept. 9, 2016 as hopes for tax reforms and stimulus programme
faded on the latest uncertainties surrounding Trump.
    The U.S. dollar slipped against the safe-haven yen and the
Swiss franc on Wednesday, and the dollar index, which
tracks the U.S. currency against six peers, gave up all of its
post-Trump gains.
    In Asia, MSCI's broadest index of Asia-Pacific shares
outside Japan was down 0.4 percent.
    In Southeast Asia, Singapore shares hit their lowest
in more than two weeks and were headed for a third straight
session of falls. Financial and real estate stocks led the
decline, with DBS Group shedding 0.8 percent and
Ascendas REIT dropping 1.2 percent. 
    Philippine shares fell 1.4 percent at one point, hurt
by slower-than-expected GDP growth in the first quarter.
 
    Industrial stocks and financials were the biggest drag. BDO
Unibank shed 1.6 percent, while Ayala Land was
down 1.3 percent. 
    Meanwhile, Malaysian shares declined as much as 0.8
percent to a near two-week low, heading for a third session of
drop.
    Indonesia hit a one-month low before recovering to
trade slightly higher, while Vietnam hovered near a
one-month high. 

For Asian Companies click;  

SOUTHEAST ASIAN STOCK MARKETS: Change at 0338 GMT
  Market           Current       Previous     Pct Move
                                 Close        
  Singapore        3212.87       3224.1       -0.35
  Bangkok          1545.17       1548.29      -0.20
  Manila           7754.9        7826.53      -0.92
  Jakarta          5630.956      5615.492     0.28
  Kuala Lumpur     1764.89       1775.65      -0.61
  Ho Chi Minh      727.97        727.2        0.11
                                              
 Change so far                                
 this year                                    
  Market           Current       End 2016     Pct Move
  Singapore        3212.87       2880.76      11.53
  Bangkok          1545.17       1542.94      0.14
  Manila           7754.9        6840.64      13.4
  Jakarta          5630.956      5296.711     6.31
  Kuala Lumpur     1764.89       1641.73      7.50
  Ho Chi Minh      727.97        664.87       9.49
 

 (Reporting by Anusha Ravindranath in Bengaluru; Editing by
Subhranshu Sahu)
  

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