September 10, 2019 / 4:22 AM / 13 days ago

SE Asia Stocks-Malaysia falls on Axiata; most others tick up

    * Axiata slumps to over four-month low
    * Philippines down after 4 sessions of gains

    By Shreya Mariam Job
    Sept 10 (Reuters) - Malaysian stocks fell on Tuesday,
dragged by telecom giant Axiata after talks with Norway's
Telenor to create a joint venture collapsed, while most other
Southeast Asian markets edged up in anticipation of monetary
easing by major global central banks.
    Malaysia was the top loser in the region with a drop
of 0.7%. The market was closed on Monday for a holiday. 
    Axiata Group Bhd slumped as much as 17.8% to an
over four-month low after the company and Norway's Telenor
 ended talks to create a telecoms joint venture with
nearly 300 million customers across South Asia and Southeast
Asia. 
    "This removes the prospect for $5 billion of potential deal
synergies," brokerage Jefferies said in a research note. 
    Axiata also said it was considering the monetisation of its
tower business, Edotco, through an initial public offering or
other means, looking for consolidation in countries such as
Indonesia and Bangladesh. 
    Shares of Telenor's Malaysian subsidiary, Digi.com Bhd
, plunged as much as 12.1%, their biggest intraday drop
in nearly nine years.
    Philippine stocks traded lower after four straight
sessions of gains, following poor trade data. Trade deficit
widened to $3.39 billion in July from $2.47 billion in the
previous month.
    Financial were among the top losers with SM Prime Holdings
Inc shedding 1.1%, while Bank of the Philippine
Islands shed 0.9%.
    Meanwhile, other equity markets in the region traded in
positive territory as investors remained cautiously optimistic
ahead of policy decisions from the European Central Bank and the
U.S. Federal Reserve. 
    "The summer of monetary love after Thursday's meeting may
quickly fade to winter if Europe's economy continues to slow,
inflation remains non-existent, and Europe's governments insist
on keeping their heads in the fiscal sand," Jeffrey Halley, 
senior market analyst, Asia Pacific at OANDA, said in a note.
    Singapore stocks gained 0.3%, driven by industrials. 
  Jardine Matheson Holdings Ltd gained 1.4%, while
Jardine Strategic Holdings rose 1.7%.    
    Thai shares climbed on financial and energy stocks.
PTT PCL gained 0.6%, while Kasikornbank PCL
gained 1.9% a day prior to the stock going ex-dividend.
    Vietnam shares inched higher, aided by financials.
Joint Stock Commercial Bank for investment and Joint
Stock Commercial Bank for Foreign Trade of Viet Nam
gained 1.8% and 0.9%, respectively.     
    
For Asian Companies click;  

SOUTHEAST ASIAN STOCK MARKETS: 0355 GMT
    
 Change on the day                                
 Market                 Current   Previous close  Pct Move
 Singapore              3156.62   3146.33         0.33
 Bangkok                1673.71   1671.22         0.15
 Manila                 7908.28   7960.12         -0.65
 Jakarta                6333.817  6326.213        0.12
 Kuala Lumpur           1593.44   1604.47         -0.69
 Ho Chi Minh            975.46    974.12          0.14
                                                  
 Change so far in 2019                            
 Market                 Current   End 2018        Pct Move
 Singapore              3156.62   3068.76         2.86
 Bangkok                1673.71   1563.88         7.02
 Manila                 7908.28   7,466.02        5.92
 Jakarta                6333.817  6,194.50        2.25
 Kuala Lumpur           1593.44   1690.58         -5.75
 Ho Chi Minh            975.46    892.54          9.29
 
 (Reporting by Shreya Mariam Job in Bengaluru; Editing by
Subhranshu Sahu)
  
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