February 26, 2019 / 10:13 AM / 3 months ago

SE Asia Stocks-Most fall on trade deal uncertainty

    * Singapore, Thailand slip after disappointing factory data
    * Vietnam stocks fall, snap six straight sessions of gains 

    By Shriya Ramakrishnan
    Feb 26 (Reuters) - Most Southeast Asian stock markets fell
on Tuesday, in line with broader Asia, as investors waited to
see if the United States and China could clinch a trade deal. 
    U.S. President Donald Trump said on Sunday he would delay a
tariff hike on $200 billion of Chinese imports in the clearest
sign yet that both sides were making progress in the talks, but
he also sounded a note of caution, saying a deal "could happen
fairly soon, or it might not happen at all."
    Southeast Asian markets have been under pressure since the
start of the Sino-U.S. trade war, as any signs of a slowdown in
China - the region's largest trading partner - tends to have a
ripple effect across the region.
    Singapore shares closed lower for a third session in
four after data showed the island state's industrial production
shrank to its lowest in two-and-a-half years in January, hurt by
a significant drop in electronics manufacturing.
    Financial and consumer stocks were among the top losers with
United Overseas Bank Ltd shedding 0.4 percent, while
Singapore Airlines Ltd fell 0.9 percent.
    Thai stocks snapped four straight sessions of gains
after January factory output data came well below analysts'
expectations.
    Energy stocks led the decline as crude oil prices fell
further after Trump called on producer group OPEC to rein in its
efforts to boost prices.   
    Malaysian stocks closed lower for a second session
in three, dragged by index heavyweights Maxis Bhd and
Axiata Group Bhd.
    The fall was likely due to "profit-taking activities after
recent gains, and as the market approaches its immediate
technical resistance levels of circa 1,725 points", said Syed
Muhammed Kifni Syed Kamaruddin, chief strategist at MIDF Amanah
Investment Bank Berhad. 
    Shares of Malayan Banking Bhd, Malaysia's top
lender and biggest listed firm by market value, ended slightly
higher after the company posted its highest quarterly profit in
two years.
    Vietnam shares closed 0.7 percent lower, snapping six
straight sessions of gains. The benchmark stock index had closed
at a more than four-month high on Monday, and has outperformed
its peers by a vast margin this year.
    Philippine shares gained 0.3 percent on resumption of
trade, while Indonesian stocks rose 0.2 percent. 
    
For Asian Companies click;  
 STOCK MARKETS                               
 Change on the day                           
 Market             Current  Previous close  Pct Move
 Singapore          3261.66  3272.35         -0.33
 Bangkok            1663.56  1671.75         -0.49
 Manila             7988.16  7962.13         0.33
 Jakarta            6540.95  6525.358        0.24
 Kuala Lumpur       1719     1724.58         -0.32
 Ho Chi Minh        987.06   994.43          -0.74
                                             
 Change on year                              
 Market             Current  End 2018        Pct Move
 Singapore          3261.66  3068.76         6.29
 Bangkok            1663.56  1563.88         6.37
 Manila             7988.16  7466.02         6.99
 Jakarta            6540.95  6194.498        5.59
 Kuala Lumpur       1719     1690.58         1.68
 Ho Chi Minh        987.06   892.54          10.59
 
 (Reporting by Shriya Ramakrishnan in Bengaluru; Editing by
Subhranshu Sahu)
  
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