February 9, 2018 / 10:07 AM / 10 months ago

SE Asia Stocks-End lower as global turmoil continues

    * Singapore down 4.3 pct on week
    * Malaysia ends 10 weeks of gains
    * Asian shares Ex-Japan down 1.9 pct

    By Nikhil Nainan
    Feb 9 (Reuters) - Southeast Asian shares fell on Friday and
ended the week lower as bouts of heavy volatility continued to
erode investor confidence across the globe.
    U.S. markets remained the epicentre of the global sell-off,
with the Dow plunging 4.1 percent and the S&P 500
sinking 3.7 percent overnight.
    Thursday's declines pushed markets into correction
territory. However, S&P mini futures were up 0.6 percent
in late Asian trading hours.
    The past week has reinforced yet again the uncertainty
inherent in today's highly correlated markets that can wipe out
trillions of dollars in investor wealth in a flash.
    MSCI's broadest index of Asia-Pacific shares outside Japan
 slid 1.9 percent.
    Philippine shares closed Friday 1.6 percent lower,
recording a weekly loss of 3.5 percent.
    "The fall in the U.S. markets precipitated the decline in
the Philippine market as well as the regional market," said
Manny Cruz, an analyst with Asiasec Equities Inc in Manila.
    Even though the Philippine central bank kept its benchmark
interest rate steady on Thursday, real estate stocks were hit as
investors anticipated that the apex bank will raise rates in the
near future.
    "Given the increase in January inflation, there is some
worry that Bangko Sentral ng Pilipinas (BSP) will be compelled
to hike rates, and this is the reason why you are seeing some
selling in real estate stocks, especially blue-chip Ayala Land,"
added Cruz.
    Heavyweights Ayala Land and SM Prime Holdings Inc
 closed down 2.8 percent each.
    Malaysian shares dropped 1.1 percent, snapping ten
weeks of gains, to close 2.7 percent lower for the week. 
    The country's industrial production rose 2.9 percent in
December from a year earlier.
    Financials led the losses with CIMB Group Holdings Bhd
 closing 3.4 percent lower.
    Singapore shares reversed Thursday's gains to fall
1.1 percent, recording a fifth session of losses in six.
    United Overseas Bank and Keppel Corporation Ltd
 were among the top losers on the index, falling 1.1
percent and 3.2 percent, respectively.
    For the week, the city-state's equity markets shed 4.3
    Indonesian shares slid 0.6 percent and ended the
week 1.9 percent lower.
For Asian Companies click;  

 Change on the day                            
 Market             Current   Previous close  Pct Move
 Singapore          3377.24   3415.9          -1.13
 Bangkok            1786.45   1786.66         -0.01
 Manila             8503.69   8645.08         -1.64
 Jakarta            6505.523  6544.634        -0.60
 Kuala Lumpur       1819.82   1839.44         -1.07
 Ho Chi Minh        1003.94   1023.25         -1.89
 Change on year                               
 Market             Current   End 2017        Pct Move
 Singapore          3377.24   3402.92         -0.75
 Bangkok            1786.45   1753.71         1.87
 Manila             8503.69   8558.42         -0.64
 Jakarta            6505.523  6355.654        2.36
 Kuala Lumpur       1819.82   1796.81         1.28
 Ho Chi Minh        1003.94   984.24          2.00

 (Reporting by Nikhil Kurian Nainan in Bengaluru; Editing by
Vyas Mohan)
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