September 17, 2018 / 9:58 AM / 8 months ago

SE Asia Stocks-Indonesia sinks on disappointing trade data, U.S. tariff threat

    * Indonesia down nearly 2 pct 
    * Singapore slips after 3 sessions of gains

    By Sumeet Gaikwad
    Sept 17 (Reuters) - Indonesian shares plunged on
Monday as a wider-than-expected August trade deficit and the
imminent new round of U.S. tariffs on Chinese goods hurt
investor sentiment in the region.
    Indonesia's trade deficit narrowed in August, but the gap
was larger than expected as exports growth slowed, government
data showed on Monday, adding to pressure on the rupiah and
local stocks.
    The local currency rupiah too was under pressure, and
fell 0.5 percent.
    U.S. President Donald Trump is likely to announce new
tariffs on about $200 billion on Chinese imports as early as
Monday, a senior administration official told Reuters on
    Trump's plan comes at a time when his Treasury Secretary
Steven Mnuchin's attempts to restart trade talks with another
bilateral meeting this month.
    Indonesian stock index closed 1.8 percent lower, its
worst trading day in more than a week, with losses across the
board. Telekomunikasi Indonesia was the biggest drag
on the benchmark, falling 3.3 percent, while conglomerate Astra
International lost 3.8 percent.
    The index of the country's 45 most liquid stocks
fell 2.4 percent.
    Singapore shares slid 0.6 percent after three
sessions of gains, with United Overseas Bank falling
1.3 percent and Jardine Matheson Holdings declining
0.5 percent.
    Singapore's on-year non-oil domestic exports (NODX) growth
slowed sharply in August as sales of pharmaceuticals came off
the sizzling pace of the month before, official data showed on
    Energy and financial stocks dragged the Thai index
marginally lower with oil and gas producer PTT falling
1.5 percent.
    Philippine shares were largely unchanged as gains in
real estate and consumer staples were offset by losses in
industrial stocks.
    Malaysian financial markets were shut for a holiday.
For Asian Companies click;  

 Change on day                             
 Market          Current   Previous Close  Pct Move
 Singapore       3141.4    3161.42         -0.63
 Bangkok         1718.39   1722.21         -0.22
 Manila          7413.56   7413.15         0.01
 Jakarta         5824.257  5931.281        -1.80
 Ho Chi Minh     987.61    991.34          -0.38
 Change on year                            
 Market          Current   End 2017        Pct Move
 Singapore       3141.4    3402.92         -7.69
 Bangkok         1718.39   1753.71         -2.01
 Manila          7413.56   8558.42         -13.38
 Jakarta         5824.257  6355.654        -8.36
 Kuala Lumpur    1803.76   1796.81         0.39
 Ho Chi Minh     987.61    984.24          0.34
 (Reporting by Sumeet Gaikwad in Bengaluru; Editing by Gopakumar
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