August 2, 2018 / 4:24 AM / a year ago

SE Asia Stocks-Fall; Singapore slides as DBS profit disappoints

    * Singapore shares drop 1.4 pct
    * Asian shares slump on renewed worries of Sino-U.S. trade

    By Syed Saif Hussain Naqvi
    Aug 2 (Reuters) - Singapore shares fell sharply on Thursday
as quarterly earnings of Southeast Asia's biggest lender, DBS
Group Holdings Ltd, fell short of expectations, while
other regional markets inched lower amid renewed worries over
the U.S.-China trade conflict.
    Broader Asian shares slumped on Thursday after Washington
said on Wednesday President Donald Trump sought to ratchet up
pressure on China for trade concessions by proposing a higher 25
percent tariff on $200 billion worth of Chinese imports.

    "Higher tariffs on China has re-ignited possibilities of a
trade war and if we look at U.S. Treasuries - it has reached 3
percent once more and that has made a case for emerging markets
to weaken," said Manny Cruz, analyst at Asiasec Equities Inc.
    Benchmark 10-year U.S. Treasury note yield rose to its
highest in 2-1/2 months on Wednesday, breaking above 3 percent,
after the government said it intended to boost borrowing in the
bond market in the coming quarter. 
    Singapore shares shed 1.4 percent, set for their
third losing session in seven, after DBS Group's second-quarter
earnings missed market expectations as the impact of business
volume growth was moderated by lower trading income.

    Singapore's United Overseas Bank will report
results on Friday, followed by Oversea-Chinese Banking Corp
 next week.
    Philippine shares also dropped, set for their third
declining session in nine, as SM Investments Corp and
Ayala Corp edged lower. The index gained more than 2
percent in the previous session.
    Malaysian shares slipped and were headed for their
first decline in nine sessions, ahead of the country's trade
balance data due on Friday.
    The trade surplus in Malaysia is expected to widen to 10.1
billion ringgit ($2.48 billion) in June, from 8.1 billion
ringgit in May.
    Telecommunication and consumer goods stocks were the biggest
pull on the index, with Sime Darby Plantation and
Axiata group BHD dropping more than 1.5 percent each.
    Indonesian shares held steady as losses in materials
stocks outweighed gains in financials. 

For Asian Companies click;  

  Change on the                                    
  Market          Current      Previous    Pct Move
  Singapore       3286.95      3329.01     -1.26
  Bangkok         1716.12      1722.01     -0.34
  Manila          7785.78      7838.22     -0.67
  Jakarta         6026.492     6033.419    -0.11
  Kuala Lumpur    1781.51      1788.31     -0.38
 Ho Chi Minh      950.6        952.77      -0.23
  Change on year                           
  Market          Current      End 2017    Pct Move
  Singapore       3286.95      3402.92     -3.41
  Bangkok         1716.12      1753.71     -2.14
  Manila          7785.78      8558.42     -9.03
  Jakarta         6026.492     6355.654    -5.18
  Kuala Lumpur    1781.51      1796.81     -0.85
  Ho Chi Minh     950.6        984.24      -3.42
($1 = 4.0700 ringgit)

 (Editing by Amrutha Gayathri)
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