September 3, 2018 / 3:55 AM / 10 months ago

SE Asia Stocks-Most fall on renewed global trade war pressures

    * Singapore down for 4th consecutive session
    * Malaysia falls for 3rd straight session

    By Sumeet Gaikwad
    Sept 3 (Reuters) - Most Southeast Asian stock markets fell
on Monday, in line with broader Asia, after the United States
and Canada failed to revamp their trade agreement, while fears
of an escalation in a bitter U.S.-China trade dispute also hit
    Contentious talks between the United States and Canada ended
on Friday with no deal to overhaul the North American Free Trade
Agreement (NAFTA) after the mood soured, while U.S. President
Donald Trump signalled his intent to sign a bilateral trade pact
with Mexico.
    Talks are set to resume on Wednesday with the aim of
reaching a deal all three nations can sign.
    "The chance of a reduction in tensions on this (NAFTA) front
has lessened, while we also know Europe is readying to hit back
if President Trump imposes tariffs on cars and goes after the
bloc", said Greg McKenna, chief market strategist at
Sydney-based AxiTrader.
    "And then we have China, pushed into a corner and unlikely
to be able to do a deal".
    Trump said last week he was ready to implement new tariffs
as soon as a public comment period on the plan ended on
Thursday, which would be a major escalation following U.S.
tariffs on $50 billion of exports from China.
    Singapore stocks fell for a fourth straight session,
hitting a near two-week low, bruised by losses in industrial and
telecom stocks. Singapore Telecommunications Ltd was
the top drag on the benchmark with a 1 percent decline, while
Singapore Technologies Engineering Ltd slid 1.8
    Faltering telecom stocks also led the decline in Malaysian
shares, with the benchmark slipping for the third
straight session. The index was closed on Friday for a holiday.
    Axiata Group and SIME Darby Plantation
fell 2.3 percent and 1.7 percent, respectively.
    The Jakarta index fell ahead of the release of
annual inflation data, as losses in materials shares outweighed
gains in consumer staples and telecom stocks.
    Indonesia's annual inflation likely picked up in August,
though the pace may remain comfortably within the central bank's
target range for the year, a Reuters poll showed on Friday.

    Astra International was among the biggest drags,
sliding 1 percent, while Indocement Tunggal Prakarsa
shed some 2 percent. An index of the country's 45 most liquid
stocks was down 0.3 percent.
    Thai shares rose slightly, helped by consumer
staples and healthcare stocks. Data released Monday showed Thai
annual headline consumer price index rose 1.62 percent in
August, beating a 1.54 percent rise forecast in a Reuters poll.

    Charoen Pokphand Foods climbed nearly 2 percent,
while Thai Oil rose 1.2 percent.
For Asian companies, click

 Change on the day                            
 Market             Current   Previous close  Pct Move
 Singapore          3200.77   3213.48         -0.40
 Bangkok            1722.16   1721.58         0.03
 Manila             7826.01   7855.71         -0.38
 Jakarta            6000.602  6018.46         -0.30
 Kuala Lumpur       1817.12   1819.66         -0.14
 Ho Chi Minh        989.54    998.07          -0.85
 Change on year                               
 Market             Current   End 2017        Pct Move
 Singapore          3200.77   3402.92         -5.94
 Bangkok            1722.16   1753.71         -1.80
 Manila             7826.01   8558.42         -8.56
 Jakarta            6000.602  6355.654        -5.59
 Kuala Lumpur       1817.12   1796.81         1.13
 Ho Chi Minh        989.54    984.24          0.54
 (Reporting by Sumeet Gaikwad in Bengaluru; Editing by Sai
Sachin Ravikumar)
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