March 28, 2018 / 10:16 AM / a year ago

SE Asia Stocks-Most tumble on Wall St. drop; Vietnam edges higher

    * Vietnam solitary gainer, up 0.04 pct
    * Indonesia falls for fourth session in six
    * Singapore posts fifth loss in six sessions

    By Syed Saif Hussain Naqvi
    March 28 (Reuters) - Most Southeast Asian stock markets
ended lower on Wednesday, after a tech selloff on Wall Street
over tighter regulation dimmed hopes of a recovery in global
equities that have been  bruised of late by fears of a
U.S.-China trade war.
    U.S. tech stocks have been stressed lately over tighter
regulatory concerns, stemming from data privacy-related issues
surrounding Facebook, with 3 major U.S. indexes posting their
fourth decline in five sessions
    Privacy concerns over the social media giant aggravated on
Tuesday when a whistleblower said Canadian company AggregateIQ
had developed software to target Republican voters in the 2016
U.S. election.
    MSCI's broadest index of Asia-Pacific shares outside Japan
 snapped its two-day gaining streak to fall 1.7
    Singapore's benchmark index was the poorest performer
amongst its peers, ending over 1.6 percent lower and posting its
fifth loss in six sessions. 
    While all sectors fell, financials weighed on the benchmark
the most, with bellwethers Oversea-Chinese Banking Corp
 and DBS Group Holdings, falling over 2
percent each.
    Indonesian shares followed suit to end over 1
percent lower, falling for a fourth session in six. Financial
stocks were the biggest losers, with Bank Negara Indonesia
(Persero) posting its steepest drop in over a year. 
    Thai shares gained momentarily after Thailand's
central bank raised its GDP forecasts for the year, but
eventually finished 0.98 pct lower.
    The Thai central bank upgraded its 2018 economic growth
forecast, taking it to 4.1 percent from 3.9 percent seen in
December, but left its benchmark interest rate unchanged as
expected. However, the vote was split for the first time in
nearly three years. 
    Philippine shares finished 0.8 percent lower, dragged
by industrials, with SM Investments Corp slumping 3.3 percent.
    The Vietnam index was the sole gainer, edging up a
slight 0.04 percent, aided by real estate stocks.

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  STOCK MARKETS                                     
  Change on day                                     
 at 1004 GMT                               
  Market          Current      Previous    Pct Move
  Singapore       3382.78      3439.35     -1.64
  Bangkok         1784.99      1802.58     -0.98
  Manila          7979.83      8047.03     -0.84
  Jakarta         6140.837     6209.35     -1.10
  Kuala Lumpur    1857.87      1862.45     -0.25
 Ho Chi Minh      1172.24      1171.73     0.04
  Change so far                            
 in 2018                                   
  Market          Current      End 2017    Pct Move
  Singapore       3382.78      3402.92     -0.59
  Bangkok         1784.99      1753.71     1.78
  Manila          7979.83      8558.42     -6.76
  Jakarta         6140.837     6355.654    -3.38
  Kuala Lumpur    1857.87      1796.81     3.40
  Ho Chi Minh     1172.24      984.24      19.10

 (Reporting by Syed Saif Hussain Naqvi; Editing by Sunil Nair)
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