July 17, 2019 / 4:05 AM / 4 months ago

SE Asia Stocks-Most inch lower as Trump threat re-ignites trade war worries

    * Singapore down after dismal June export data
    * Resources, utility stocks weigh on Malaysia

    By Soumyajit Saha
    July 17 (Reuters) - Southeast Asian stock markets struggled
in a tight range on Wednesday after U.S. President Donald Trump
indicated that a resolution to the tariff war with China was not
imminent, souring investor sentiment.
    Trading volume was low as market participants digested
Trump's threat of imposing tariffs on an additional $325 billion
worth of Chinese goods "if we want". The United States had "a
long way to go with China on trade", he said on Tuesday.

    The general market tone would be "risk-off", ING Group said
in a note to clients, adding that Trump's renewed threat had
investors bracing for weak trading in the Asian session.
    Trump's comments came after the world's two largest
economies last month agreed to a truce in the year-long trade
spat. The enduring tariff war has adversely impacted global
economic growth, especially in Southeast Asia whose biggest
trading partner is China.
    Malaysian shares fell 0.4%, hurt by losses in the
resources and utility sectors. 
    Petronas Chemicals Group was 2.6% lower, while
electricity generator Tenaga Nasional was down 1.2%.
    Singapore shares slipped as disappointing June export
data weighed on the market.  
    Exports fell more than expected last month, marking their
biggest decline in six years, as the city-state struggles
against tepid global demand and the Sino-U.S. trade war.

    The dismal data added to the gloom kicked-off by a 3.4%
shrink in the second-quarter GDP.    
    Consumer and industrial stocks were among the top losers.
Conglomerate Jardine Strategic Holdings fell 1.2%,
while Dairy Farm International Holdings declined 2.3%.
    Indonesian shares edged lower, dragged by financial
and consumer stocks. 
    Automobile manufacturer Astra International fell
2%, while lender Bank Central Asia shed 0.5%. 
    Philippine shares rose marginally, helped by consumer
and utility stocks.   
For Asian Companies click;  

 Market                 Current   Previous close  Pct Move
 Singapore              3356.46   3360.03         -0.11
 Bangkok                1728.82   1727.98         0.05
 Manila                 8270.2    8263.57         0.08
 Jakarta                6390.944  6401.88         -0.17
 Kuala Lumpur           1662.41   1668.94         -0.39
 Ho Chi Minh            982.11    982.11          0.00
 Change so far in 2019                            
 Market                 Current   End 2018        Pct Move
 Singapore              3356.46   3068.76         9.38
 Bangkok                1728.82   1563.88         10.55
 Manila                 8270.2    7,466.02        10.77
 Jakarta                6390.944  6,194.50        3.17
 Kuala Lumpur           1662.41   1690.58         -1.67
 Ho Chi Minh            982.11    892.54          10.04

 (Reporting by Soumyajit Saha; Editing by Subhranshu Sahu)
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