April 3, 2019 / 4:13 AM / 3 months ago

SE Asia Stocks-Most fall; Singapore rises nearly 1 pct

    * Singapore up for fifth straight session
    * Thailand down after four days of gains
    * New round of Sino-U.S. talks awaited

    By Shreya Mariam Job
    April 3 (Reuters) - Most Southeast Asian stock markets fell
on Wednesday after the World Trade Organization cut its 2019
trade growth estimate and the Asian Development Bank trimmed its
regional economic growth forecast, while Singapore shares jumped
nearly 1 percent to a near eight-month high. 
    World trade shrank by 0.3 percent in the fourth quarter of
2018 and is likely to grow by 2.6 percent this year, below a
previous forecast of 3.7 percent, the World Trade Organization
said on Tuesday.
    The Asian Development Bank cut its growth forecast for
Southeast Asia this year to 4.9 percent from 5.1 percent, as the
Manila-based lender expects Malaysia, Singapore, Philippines and
Thailand to grow slower than previously thought.   
    Meanwhile, optimism stemming from positive U.S. and China
manufacturing activity data wore off as investors took a
wait-and-see stance ahead of a new round of Sino-U.S. trade
talks. 
    White House economic adviser Larry Kudlow said the United
States and China "expect to make more headway" in trade talks
this week. 
    "For today, expect Asian markets to trade with a mixed tone,
after US markets were rather flattish yesterday and they also
await further updates on US-China trade talks," OCBC Bank said
in note.
    Singapore stocks extended gains into a fifth session
on the back of financials. DBS Holdings Group Ltd
gained 2.3 percent, while Oversea-Chinese Banking Corp Ltd
 firmed 1.7 percent.
    Malaysian shares rose for a second straight session,
driven by financial and healthcare stocks. Public Bank Bhd
 climbed 1.3 percent and IHH Healthcare Bhd
gained 2.6 percent. 
    Meanwhile, Thai shares fell after four straight
sessions of gains, hurt by telecom and real estate stocks.     
    Vietnam stocks slipped with losses concentrated in
the financial and real estate sectors. 
    Vinhomes JSC and Vietnam Joint Stock Commercial
Bank for Industry and Trade dipped 0.3 percent and 0.4
percent, respectively. 
    The Indonesian stock market was closed for a
holiday.         
    
For Asian Companies click;  

SOUTHEAST ASIAN STOCK MARKETS As at 0406 GMT
    
 Change on the day                               
 Market                 Current  Previous close  Pct Move
 Singapore              3306.15  3279.78         0.80
 Bangkok                1649.19  1651.48         -0.14
 Manila                 7868.7   7879.21         -0.13
 Kuala Lumpur           1641.67  1632.83         0.54
 Ho Chi Minh            984.35   985.81          -0.15
                                                 
 Change so far in 2019                           
 Market                 Current  End 2018        Pct Move
 Singapore              3306.15  3068.76         7.74
 Bangkok                1649.19  1563.88         5.46
 Manila                 7868.7   7,466.02        5.39
 Kuala Lumpur           1641.67  1690.58         -2.89
 Ho Chi Minh            984.35   892.54          10.29
 
 (Reporting by Shreya Mariam Job in Bengaluru; Editing by
Subhranshu Sahu)
  
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