August 31, 2018 / 3:40 AM / 3 months ago

SE Asia Stocks-Fall on fresh trade war fears

    * Singapore shares down for third straight session
    * Indonesia declines over 1 pct to one-week low

    By Sumeet Gaikwad
    Aug 31 (Reuters) - Southeast Asian stock markets fell on
Friday, in line with broader Asia, after a report that U.S.
President Donald Trump was preparing to step up a trade war with
Beijing and ready to impose more tariffs on Chinese imports.
    Bloomberg reported that Trump said he was ready to impose
more tariffs on $200 billion worth of goods from China as soon
as the public comment period on the plan ends next week.
 
    Trump also threatened to withdraw from the World Trade 
Organization if "they don't shape up," in his latest criticism
of the institution.
    MSCI's broadest index of Asia-Pacific shares outside Japan
 slid 0.74 percent.
    Indonesian shares fell over 1 percent to a one-week
low, weighed down by losses across the board, but were poised to
post a monthly gain.
    Consumer products maker Unilever Indonesia and
conglomerate Astra International declined over 2
percent each. 
    An index of the country's 45 most liquid stocks
was down 1.5 percent. 
    Philippine shares declined 0.9 percent, dragged by
real estate and industrial stocks. 
    Blue chips SM Prime Holdings and Ayala Land
 fell 2 percent and 1.6 percent, respectively. 
    Singapore shares slipped for a third consecutive
session and were set to post a monthly drop. 
    Financials were a drag with top lender DBS Group Holdings
 shedding as much as 1.6 percent to a six-month low.
    Thai shares fell for a second straight session,
weighed down by losses in consumer staples and industrials,
ahead of July trade data.
    CP All slipped 1 percent, while Airports of
Thailand dropped 0.8 percent. 
    Malaysian markets were closed for a holiday. 
        
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SOUTHEAST ASIAN STOCK MARKETS: AS AT 0329GMT
 Change on the day                            
 Market             Current   Previous close  Pct Move
 Singapore          3220.1    3225.72         -0.17
 Bangkok            1714.84   1720.43         -0.32
 Manila             7779.84   7853.16         -0.93
 Jakarta            5951.148  6018.964        -1.13
 Ho Chi Minh        997.63    998.07          -0.04
                                              
 Change on year                               
 Market             Current   End 2017        Pct Move
 Singapore          3220.1    3402.92         -5.37
 Bangkok            1714.84   1753.71         -2.22
 Manila             7779.84   8558.42         -9.10
 Jakarta            5951.148  6355.654        -6.36
 Ho Chi Minh        997.63    984.24          1.36
 
 (Reporting by Sumeet Gaikwad in Bengaluru; Editing by
Subhranshu Sahu)
  
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