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SE Asia Stocks-Lower tracking Asian shares, Wall Street
August 18, 2017 / 4:47 AM / 3 months ago

SE Asia Stocks-Lower tracking Asian shares, Wall Street

    By Urvashi Goenka
    Aug 18 (Reuters) - Southeast Asian stock markets fell on
Friday, tracking losses in  Asia and Wall Street overnight as
worries grew over U.S. President Donald Trump's ability to push
through his economic agenda.
    Concerns have increased following the exodus of executives
from two prominent business councils in protest over Trump's
remarks on white nationalists and as he abandons plans to create
an infrastructure advisory council, putting in doubt his
economic goals such as tax cuts and infrastructure spending.

    Wall Street's three major indexes slumped between 1.2
percent and 1.9 percent, while Asian shares
dropped 0.7 percent, with sentiment also taking a hit after a
van mowed through crowds of tourists in Barcelona on Thursday,
killing at least 13 people.  
    In Southeast Asia, Philippine shares fell after four
straight sessions of gains, hurt by real estate and financials.
    Index heavy-weight Ayala Land slipped as much as
1.5 percent, while conglomerate Ayala Corp lost 2
percent.
    "The markets followed Wall Street...," said Fio Dejesus, an
equity analyst with the Manila-based RCBC Securities. "The
catalyst for the Wall Street (fall) is really political and the
lack of clarity that stems from Donald Trump's comments..."
    Singapore fell as much as 0.6 percent, extending
losses for a fourth day, as financials and industrials lost
ground.
    Jardine Matheson Holdings fell 1.9 percent, while 
Yangzijiang Shipbuilding Holdings was down 1.6
percent.
    Malaysian stocks edged down, dragged lower by
materials and consumer discretionary stocks. Genting Bhd
 fell 1.2 percent, while telecom company Axiata Group
 dropped 0.8 percent.
    Thai stocks fell as much as 0.2 percent, hurt by
industrials, while Indonesia was down marginally.
    
    For Asian Companies click;  

SOUTHEAST ASIAN STOCK MARKETS: Change as of 0354 GMT

  Change on day                                        
  Market           Current       previous     Pct Move
                                 close        
  Singapore        3263.85       3268.88      -0.15
  Bangkok          1563.73       1568.95      -0.33
  Manila           8043.99       8072.75      -0.36
  Jakarta          5889.335      5891.949     -0.04
  Kuala Lumpur     1773.5        1776.31      -0.16
  Ho Chi Minh      764.76        767.59       -0.37
                                              
  Change on year                              
  Market           Current       End 2016     Pct Move
  Singapore        3263.85       2880.76      13.30
  Bangkok          1563.73       1542.94      1.35
  Manila           8043.99       6840.64      17.6
  Jakarta          5889.335      5296.711     11.19
  Kuala Lumpur     1773.5        1641.73      8.03
  Ho Chi Minh      764.76        664.87       15.0
 
 (Reporting by Urvashi Goenka; Editing by Biju Dwarakanath)
  

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