August 24, 2018 / 3:50 AM / in a month

SE Asia Stocks-Fall as escalating Sino-U.S. trade spat sours sentiment

    * Singapore down led by financials, telecom
    * Vietnam set for sixth straight week of gains 
    * Singapore July manufacturing data due later in the day

    By Mensholong Lepcha
    Aug 24 (Reuters) - Southeast Asian stock markets fell on
Friday, tracking global peers, as a festering trade dispute
between the U.S. and China escalated after the two countries
imposed tariffs on $16 billion worth of each other's goods.
    Two days of talks between American and Chinese officials in
Washington ended inconclusively on Thursday with no major
breakthrough.
    Investors are also keeping an eye on the meeting of U.S.
central bankers in Jackson Hole, Wyoming, where Federal Reserve
Chair Jerome Powell will speak later in the day. His speech will
be watched for clues on monetary policy after minutes from the
most recent meeting indicated that the Fed would raise interest
rates soon.
    Asian shares ex-Japan were trading 0.4
percent lower on Friday.  
    Singapore shares fell as much as 1 percent, dragged
down by financials and telecommunications. Lender DBS Group
Holdings fell as much as 1.4 percent, while Singapore
Telecommunications shed 2.4 percent.
    Data on the city-state's July manufacturing output is due
later in the day. A Reuters poll saw output falling 1.3 percent
from the last month. 
    Heavyweights SM Prime Holdings and Bank of the
Philippine Islands fell over 2 percent each, dragging
down the Philippine index.
    Markets in Malaysia and Indonesia were down
over half-a-percent each.
    Public Bank and Hong Leong Financial Group
 weighed heavily on the Malaysian index, falling as
much as 2.5 pct each. Star Pacific Tbk PT was the
biggest drag on the Indonesian index, diving over 32 percent.
    Vietnam shares were down 0.2 percent. The index is,
however, set for a sixth straight week of gains.
    Thai shares were marginally lower.
    For Asian Companies click;  

SOUTHEAST ASIAN STOCK MARKETS
  Change on the day                                         
  Market             Current        Previous      Pct Move
                                    close         
  Singapore          3229.77        3249.89       -0.62
  Bangkok            1698.54        1704.8        -0.37
  Manila             7750.35        7804.03       -0.69
  Jakarta            5961.06        5982.985      -0.37
  Kuala Lumpur       1800.93        1810.87       -0.55
  Ho Chi Minh        987.13         987.36        -0.02
                                                  
  Change on year                                  
  Market             Current        End 2017      Pct Move
  Singapore          3229.77        3402.92       -5.09
  Bangkok            1698.54        1753.71       -3.15
  Manila             7750.35        8558.42       -9.44
  Jakarta            5961.06        6355.654      -6.21
  Kuala Lumpur       1800.93        1796.81       0.23
  Ho Chi Minh        987.13         984.24        0.29
 
 (Reporting by Mensholong Lepcha; Editing by Sunil Nair)
  
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