April 3, 2018 / 4:32 AM / 10 months ago

SE Asia Stocks-Fall as renewed trade war fears weigh on sentiment

    * Singapore drops over 1 pct, biggest loser in SE Asia
    * Indonesia down after two straight sessions of gains
    * Vietnam retreats from record high hit in early trade

    By Nicole Pinto
    April 3 (Reuters) - Southeast Asian stock markets fell on
Tuesday in line with global equities amid escalating trade war
fears and worries over the fading outlook for global tech
    Investors were on the back foot as China imposed extra
tariffs on 128 U.S. products, deepening a dispute between the
world's top two economies and stoking concerns about the impact
on global growth.
    "While the impacted quantum is admittedly small, the risk of
a downward spiral to tit-for-tat trade measures has appreciably
increased," Mizuho Bank said in a note, adding that: "investors
were keen to take risk off the table given the circumstances."
    Technology shares on Wall Street were hit hard overnight
after U.S. President Donald Trump attacked Amazon.com
over the pricing of its deliveries through the United States
Postal Service and promised unspecified changes.
    The selling added to what has been a rough patch for
technology shares this year. Facebook, Apple and
some of their peers had a woeful last quarter as investors
reassessed high U.S. stock valuations in light of a cocktail of
negative factors.
    In Southeast Asia, Singapore shares fell more than 1
percent in broad-based losses.  
    Being export driven, the city-state would be "quite
impacted" in case of a trade war, said an analyst from
    Financial and industrial stocks were the top losers with DBS
Group Holdings Ltd shedding up to 1.3 percent and
Keppel Corp Ltd declining 1.7 percent. 
    Indonesian shares dropped as much as 0.6 percent
with Bank Mandiri (Persero) Tbk PT declining nearly 2
percent and Telekomunikasi Indonesia (Persero) Tbk Perusahaan
Perseroan PT shedding 1.4 percent. 
    Philippine shares declined 0.8 percent, dragged down
by financials. Security Bank Corp fell as much as 2.5
percent to a more than one-month low, while Bank of the
Philippine Islands plunged 5 percent. 
    Vietnam shares slipped 0.7 percent, dragged by real
estate and industrial stocks, after hitting a record high in
early trade. The key Vietnam stock index climbed 1.9 percent to
an all-time closing high in the previous session on the back of
gains in financial and real estate stocks.
For Asian Companies click;  

  Market          Current      Previous    Pct Move
  Singapore       3398.4       3430.76     -0.94
  Bangkok         1778.13      1782.28     -0.23
  Manila          8021.45      8039.45     -0.22
  Jakarta         6216.213     6240.571    -0.39
  Kuala Lumpur    1857.54      1858.35     -0.04
 Ho Chi Minh      1189.97      1196.61     -0.55
  Change so far                            
 in 2018                                   
  Market          Current      End 2017    Pct Move
  Singapore       3398.4       3402.92     -0.13
  Bangkok         1778.13      1753.71     1.39
  Manila          8021.45      8558.42     -6.27
  Jakarta         6216.213     6355.654    -2.19
  Kuala Lumpur    1857.54      1796.81     3.38
  Ho Chi Minh     1189.97      984.24      20.90
 (Reporting by Nicole Pinto; Editing by Subhranshu Sahu)
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