October 9, 2019 / 9:57 AM / 4 months ago

SE Asia Stocks-Most fall as rising U.S.-China tensions dent trade deal hopes

    * Sino-U.S. trade talks slated to start Thursday
    * Philippine c.bank gov signals end of rate cuts for 2019
    * Malaysia touches lowest close in over 4 years

    By Soumyajit Saha
    Oct 9 (Reuters) - Most Southeast Asian stock markets closed
lower on Wednesday as rising tensions between the United States
and China punctured hopes of a trade deal with talks slated to
begin on Thursday. 
    The dispute intensified after Washington imposed visa
restrictions on Chinese officials over the mistreatment of
Muslim minorities, a day from the Commerce Department
blacklisting various Chinese companies for the same reason.

    Thursday's meetings, the first ministerial-level meeting in
months, is being monitored for signs of respite from a tariff
war that has deeply damaged global economic growth.
    "The movement is definitely reactionary given that there is
little expectations of a deal now, and we will also have to look
out for Chinese retaliation," said Joel Ng, an analyst with KGI
    Philippine shares dropped 1%, reversing strong gains
from the day before, as the country's central bank governor said
further rate cuts this year are unlikely.
    Index heavyweights SM Prime Holdings and SM
Investments Corp fell 1.7% and 1.9% respectively.
    Singapore's benchmark index snapped two sessions of
gains to fall, weighed down by banking and industrial shares.
    Southeast Asia's largest bank, DBS Group Holdings,
lost 0.7%, while conglomerate Jardine Matheson Holdings
 was trading 2% down.
    Malaysian stocks closed at their lowest in over four
years, hurt by losses in the banking and consumer sectors.
    Malayan Banking fell 0.8%, while palm oil producer
Sime Darby Plantation dropped 1%.  
    Bucking the general trend, Thai stocks rose, helped
by gains in the utility sector, with electricity distributor
Global Power Synergy rising 5%.
For Asian Companies click;  

  STOCK MARKETS                                             
  Change on the day                                         
  Market             Current        Previous      Pct Move
  Singapore          3089.9         3110.85       -0.67
  Bangkok            1616.18        1612.17       0.25
  Manila             7681.25        7756.72       -0.97
  Jakarta            6029.16        6039.601      -0.17
  Kuala Lumpur       1551.23        1558.79       -0.48
 Ho Chi Minh         987.83         988.22        -0.04
  Change so far in                                
  Market             Current        End 2018      Pct Move
  Singapore          3089.9         3068.76       0.69
  Bangkok            1616.18        1563.88       3.34
  Manila             7681.25        7,466.02      2.88
  Jakarta            6029.16        6,194.50      -2.67
  Kuala Lumpur       1551.23        1690.58       -8.24
  Ho Chi Minh        987.83         892.54        10.68
 (Reporting by Soumyajit Saha in Bengaluru
Editing by Mark Heinrich)
0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below