September 16, 2019 / 4:34 AM / 3 months ago

SE Asia Stocks-Most fall as China data, Saudi attack dent sentiment

    * China's Aug industrial output at 17-1/2-year low
    * Indonesia index dragged by cigarette makers, oil importers
    * Thai shares rise on energy stocks

    By Anushka Trivedi
    Sept 16 (Reuters) - Most Southeast Asian stock markets fell
on Monday after dismal data from China, the region's biggest
trading partner, signalled weakness for the broader Asian
economy, while oil importers were affected following attacks on
Saudi Arabia's crude facilities.
    Oil prices jumped over 10% on fears of a supply glut as the
attack would significantly cut global oil output, while investor
sentiment also remained on edge as the incident risked
increasing geopolitical tensions worldwide.
    Confidence was dented after industrial output data from
China showed that the slowdown in factory and consumer sectors
had deepened in August. Industrial production grew at its
weakest pace in 17-1/2 years for the month, hinting at increased
frailty in an economy lashed by trade headwinds and soft
domestic demand. 
    Analysts at Citibank see a case for additional caution as
the attack on Saudi's facility could led to a "supply shock",
given lingering fears of a potential U.S.recession.
    Leading declines in the region, Indonesian stocks
marked their worst session in over a month.
    Indonesian oil importers dropped as investors scurried for
safe-haven bets after the attacks. Chandra Asri Petrochemical
 shed 6.2%, while marine logistics company Transcoal
pacific Tbk PT lost 4.1%.
    Top cigarette maker Hanjaya Mandala Sampoerna Tbk PT
 saw its worst day in nearly 29 years, with peer Gudang
Garam Tbk PT diving about 20% after the finance
ministry announced a hike to minimum price of cigarettes by an
average of 35%, while raising excise tax by 23% from 2020
onwards.
    Trade-sensitive Singapore stocks dropped, with
industrials denting the index. Shares of Yangzijiang
Shipbuilding Holdings Ltd slipped 0.9%, while
Hutchison Port Holdings Trust declined 1.9%.
    An index of Jakarta's forty-five most liquid stocks
 lost 1.1%.
    The Philippine bourse dropped 0.6% amid broad-based
losses. Shares of property developer Ayala Land Inc and
conglomerate SM Prime Holdings declined 1.4% and 0.4%,
respectively.
    Bucking the sombre mood, Thai shares ticked up on
the back of energy stocks as oil prices surged, while the
Vietnam index advanced on financials. 
    Thai oil and gas giant PTT PCL hit its highest in
more than six weeks, while PTT Exploration and Production PCL
 scaled 3.3%.    
    
For Asian Companies click;  

SOUTHEAST ASIAN STOCK MARKETS
 Change on the day                                
 Market                 Current   Previous close  Pct Move
 Singapore              3210.99   3211.49         -0.02
 Bangkok                1663.26   1661.96         0.08
 Manila                 7942.17   7992.32         -0.63
 Jakarta                6232.627  6334.843        -1.61
 Ho Chi Minh            989.94    987.22          0.28
                                                  
 Change so far in 2019                            
 Market                 Current   End 2018        Pct Move
 Singapore              3210.99   3068.76         4.63
 Bangkok                1663.26   1563.88         6.35
 Manila                 7942.17   7,466.02        6.38
 Jakarta                6232.627  6,194.50        0.62
 Ho Chi Minh            989.94    892.54          10.91
 


 (Reporting by Anushka Trivedi in Bengaluru, Editing by Sherry
Jacob-Phillips)
  
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