September 11, 2018 / 4:22 AM / 3 months ago

SE Asia Stocks-Philippines extends falls on disappointing trade data

    * Singapore down for 5th straight session
    * Indonesia, Malaysia closed for holidays

    By Karthika Suresh Namboothiri
    Sept 11 (Reuters) - Philippine shares extended falls into a
fifth session on Tuesday on disappointing trade data, while
Vietnam stocks rose for a third straight session on the back of
gains in real estate and energy sectors. 
    Data released earlier in the day showed the Philippines'
trade deficit widened in July as imports posted their fastest
gain in more than two years while exports barely grew.

    The Philippine Stock Exchange PSEI Index declined as
much as 1.3 percent, taking the total loss in the past five
sessions to nearly 5 percent. It had lost over 11 percent this
year as of last close, making it the top loser among Southeast
Asian markets.
    These are the after-effects of higher-than-expected August
inflation, and some concerns of contagion from emerging markets
on the currency, said Fio De Jesus, an analyst at Manila-based
RCBC Securities.    
    Industrial stocks SM Investments Corp and JG Summit
 fell 2.6 percent and 3.8 percent, respectively.
    Meanwhile, escalating U.S.-Sino trade tensions also weighed
on investor sentiment, with MSCI's broadest index of
Asia-Pacific shares outside Japan extending its
decline to hit the lowest since July last year.
    Singapore shares inched lower and were headed for a
fifth consecutive session of declines.
    Industrial conglomerate Jardine Matheson Holdings Ltd
 fell over 1 percent to a four-month low, while DBS
Group Holdings shed 0.7 percent.
    Thai shares edged lower, dragged by energy stocks.
Gas supplier PTT Public Co lost over 1 percent.
    In Vietnam, Vingroup JSC led the gains with a rise
of 2.7 percent, while Petrovietnam Gas Joint Stock Corp climbed
1.8 percent.   
    Indonesia and Malaysia were closed for
holidays.
    
For Asian Companies click;  

SOUTHEAST ASIAN STOCK MARKETS AS AT 0413 GMT 
 Market          Current   Previous close  Pct Move
 Singapore       3116.33   3120.92         -0.15
 Bangkok         1689.34   1691.51         -0.13
 Manila          7498.27   7596.15         -1.29
 Ho Chi Minh     977.98    970.34          0.79
 Change on year                            
 Market          Current   End 2017        Pct Move
 Singapore       3116.33   3402.92         -8.42
 Bangkok         1689.34   1753.71         -3.67
 Manila          7498.27   8558.42         -12.39
 Ho Chi Minh     977.98    984.24          -0.64
 
 (Additional Reporting by Niyati Shetty; Editing by Subhranshu
Sahu)
  
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