June 18, 2018 / 4:18 AM / a month ago

SE Asia Stocks-Fall as trade spat escalates; Philippines sheds over 2.5 pct

    * Singapore shares decline to their lowest in eight months
    * Thai shares extend fall, energy stocks weigh on index

    By Nicole Pinto
    June 18 (Reuters) - Southeast Asian stock markets fell on
Monday, in line with broader Asia as a trade spat intensified
between the world's top two economies.
    Fears of a global trade war also added to pressure on oil
prices. U.S. oil prices fell 1.9 percent following a 2.7
percent slump in the previous session.
    U.S. President Donald Trump said he was pushing ahead with
hefty tariffs on $50 billion of Chinese imports on Friday,
prompting China to immediately respond in kind.

    "Given that both sides seem to suggest that further
escalation of hostilities may be possible, markets are expected
to see more volatility, and industrial companies with
significant proportion of revenues from overseas will be the
hardest hit, " Mizuho Bank analysts said in a note.
    Philippine shares slumped as much as 2.7 percent to
their lowest in since April 2017 and were headed for a third
session of fall. 
    Holding firms, banks and industrials were the biggest
losers. SM Investments Corp fell 3 percent, JG Summit
Holdings declined more than 5 percent and International
Container Terminal Services Inc dropped 2.4 percent.
    Singapore shares fell 1.7 percent to their lowest
since mid-October, dragged by financials. Heavyweight DBS Group
Holdings Ltd and United Overseas Bank Ltd
both declined nearly 3 percent. 
    Exports grew at their fastest pace in seven months in May,
boosted by an extended surge in pharmaceutical shipments, though
the heated Sino-U.S. trade dispute is clouding the outlook for
the trade-dependent city state.
    Thai share declined for a fourth consecutive session
and hit their lowest since mid-November. PTT Exploration and
Production PCL and PTT PCl fell 4.1 percent
and 2 percent, respectively.
    Malaysian shares fell up to 1.5 percent, extending
their decline into a sixth session, weighed by telecom and
financial stocks.
    Indonesian financial markets are closed through Tuesday,
June 19, for Eid Al-Fitr.
   
For Asian Companies click;  

SOUTHEAST ASIAN STOCK MARKETS: Change as at 0412 GMT
 Change on the day                            
                    Current   Previous Close  Pct Move
 Singapore          3300.94   3356.73         -1.66
 Bangkok            1688.28   1704.82         -0.97
 Manila             7361.42   7529.54         -2.23
 Kuala Lumpur       1746.76   1761.78         -0.85
 Ho Chi Minh        1010.97   1016.51         -0.55
                                              
 Change on year                               
 Market             Current   End 2017        Pct Move
 Singapore          3300.94   3402.92         -3.00
 Bangkok            1688.28   1753.71         -3.73
 Manila             7361.42   8558.42         -13.99
 Kuala Lumpur       1746.76   1796.81         -2.79
 Ho Chi Minh        1010.97   984.24          2.72
 

 (Reporting by Nicole Pinto; Editing by Subhranshu Sahu)
  
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