September 4, 2017 / 4:29 AM / a year ago

SE Asia Stocks-Most fall on caution after N.Korea's nuclear test

    By Nicole Pinto
    Sept 4 (Reuters) - Most Southeast Asian stock markets fell on Monday as
North Korea's latest nuclear test prompted caution across Asian equities,
although the Philippines bucked the trend to climb higher.
    North Korea on Sunday conducted its sixth and most powerful nuclear test,
which it said was of an advanced hydrogen bomb for a long-range missile,
prompting the threat of a "massive" military response from the United States if
it or its allies were threatened.
    MSCI's broadest index of Asia-Pacific shares outside Japan
dipped 0.4 percent.
    "Global risk appetite is likely to be deterred somewhat by North Korea's
latest weekend test of a hydrogen bomb which drew widespread condemnation and
may overshadow the disappointing U.S. unemployment report on Friday," OCBC Bank
said in a note.
    Singapore shares fell 0.7 percent, led by losses in the financial
sector, with Oversea-Chinese Banking Corp Ltd down as much as 1
    The city-state's manufacturing PMI data for August is expected later in the
    Indonesian shares were down 0.5 percent. The country's annual
inflation rate slowed slightly in August, the statistics bureau said
on Monday. 
    Bank Rakyat Indonesia (Persero) Tbk PT was down as much as 1
percent, while Bank Central Asia Tbk PT slipped 1.2 percent.
    Meanwhile, Philippine shares gained 0.8 percent as the real estate
and industrial sectors underpinned the market. Ayala Land climbed 2.1
percent, while JG Summit Holdings Inc gained 2.3 percent. 
    "There has been sustained buying from foreign institutions, in anticipation
that the government tax reform program will be passed within the year," said
Manny Cruz, an analyst with Manila-based Asiasec Equities Inc.  
    Stock markets in Malaysia and Vietnam were closed on Monday
on account of regional holidays. 
For Asian Companies click;  
  STOCK MARKETS                                        
  Change on the                                        
 day at 0425 GMT                              
  Market           Current       previous     Pct Move
  Singapore        3255.21       3277.26      -0.67
  Bangkok          1619.54       1618.42      0.07
  Manila           8027.92       7958.57      0.87
  Jakarta          5833.61       5864.059     -0.52
  Change so far                               
 this year                                    
  Market           Current       End prev yr  Pct Move
  Singapore        3255.21       2880.76      13.00
  Bangkok          1619.54       1542.94      4.96
  Manila           8027.92       6840.64      17.36
  Jakarta          5833.61       5296.711     10.14
 (Reporting by Nicole Pinto; Additional reporting by Chandini Monnappa; Editing
by Amrutha Gayathri)
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