March 20, 2019 / 10:04 AM / 3 months ago

SE Asia Stocks-Most fall on trade jitters, Fed caution

    * Singapore snaps four straight sessions of gains
    * Thai cenbank cuts 2019 economic growth forecast 

    By Shreya Mariam Job
    March 20 (Reuters) - Most Southeast Asian stock markets fell
on Wednesday as risk appetite soured after a report of possible
hurdles in the Sino-U.S. trade talks, and ahead of the U.S.
Federal Reserve policy decision later in the day.
    Bloomberg reported on Tuesday that U.S. negotiators were
concerned that China is pushing back against American demands in
trade talks. The report comes ahead of another round of talks
scheduled for next week.
    "As key events continue to unfold, such as the FOMC (Federal
Open Market Committee) interest rate decision tonight, markets
would likely remain cautious and take a more conservative view,"
Phillip Futures said in a note, adding that investors would now
focus on the next round of China-U.S. talks scheduled for March
25.
    Sentiment was further dampened by a Thomson Reuters/INSEAD
survey showing Asian business confidence held near three-year
lows in the first quarter as the U.S.-China trade dispute
dragged on.
    Vietnam shares fell as much as 1.5 percent to their 
lowest in more than one week before cutting losses to close 0.4
percent lower.
    Real estate stocks were among the biggest losers with
property majors Vinhomes JSC and Vingroup JSC
shedding 1.9 percent and 0.7 percent, respectively.
    Singapore shares snapped four consecutive sessions of
gains, dragged by financials.
    Oversea-Chinese Banking Corp Ltd dipped 0.7
percent, while United Overseas Bank Ltd slid 0.9
percent
    Philippine stocks reversed earlier losses to end
marginally higher ahead of the central bank policy meeting on
Thursday.
    Real estate and consumer stocks were among the biggest
boosts with property giant Ayala Land Inc and Universal
Robina Corp rising 1 percent and 1.3 percent,
respectively. 
    Thai shares closed flat after the central bank cut
its forecasts for economic growth and exports this year,
corroborating growing concerns of a slowdown in global growth,
while it held its benchmark interest rate steady for a second
straight meeting as expected.
    
For Asian Companies click;  

SOUTHEAST ASIAN STOCK MARKETS
 Change on the day                               
 Market                 Current  Previous close  Pct Move
 Singapore              3207.66  3220.92         -0.41
 Bangkok                1627.62  1630.09         -0.15
 Manila                 7858.2   7843.41         0.19
 Jakarta                6482.71  6480.276        0.04
 Kuala Lumpur           1684.21  1687.68         -0.21
 Ho Chi Minh            1002.3   1006.59         -0.43
                                                 
 Change so far in 2019                           
 Market                 Current  End 2018        Pct Move
 Singapore              3207.66  3068.76         4.53
 Bangkok                1627.62  1563.88         4.08
 Manila                 7858.2   7,466.02        5.25
 Jakarta                6482.71  6,194.50        4.65
 Kuala Lumpur           1684.21  1690.58         -0.38
 Ho Chi Minh            1002.3   892.54          12.30
 
 (Reporting by Shreya Mariam Job in Bengaluru; Editing by
Subhranshu Sahu)
  
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