August 30, 2018 / 10:04 AM / 10 months ago

SE Asia Stocks-Singapore, Indonesia drop amid China growth fears

    * Singapore falls for second straight session
    * Thailand snaps three-session gaining streak

    By Sumeet Gaikwad
    Aug 30 (Reuters) - Singapore and Indonesia tracked broader
Asian shares lower on Thursday as fears of cooling economic
growth in China amid its trade spat with the United States
dampened investor sentiment.
    Activity in China's vast factory sector likely slowed for
the third straight month in August as domestic demand remained
weak and exporters faced rising uncertainties from the
escalating trade war with Washington, a Reuters poll showed.

    The deadline for public comment on U.S. President Donald
Trump's tariffs on another $200 billion of Chinese goods is on
Sept. 5, with the new measures possibly taking effect next
    Indonesian shares closed 0.8 percent lower, paring
early gains, on broad-based losses as the rupiah continues to
lose ground.
    Indonesia's central bank has intervened in the foreign
exchange market to keep the rupiah from depreciating too fast
and too sharply, an official said on Thursday. The currency has
lost about 7 percent this year.
    The index of the country's 45 most liquid stocks
was down more than 1 percent. Telekomunikasi Indonesia
fell 2 percent, while Bank Negara Indonesia declined
nearly 3 percent.  
    Singapore shares ended lower for a second consecutive
session, weighed down by industrials and financials. 
    United Overseas Bank and Jardine Matheson Holdings
 fell 1.4 percent and 2 percent, respectively. 
    Philippines index climbed to an over three-month
closing high, on gains in financial stocks. 
    Metro Pacific Investments Corp was the biggest
boost to the benchmark, rising 5.4 percent, while GT Capital
Holdings added 4.5 percent.
    Malaysian shares were largely flat as losses in
telecom stocks offset gains in financials and energy.
    Telekom Malaysia was the biggest drag on the
index, sliding more than 7 percent.
    Thai shares ended marginally lower, snapping a
three-session gaining streak, weighed down by consumer staples
and energy stocks. 

For Asian Companies click;  

 Change on the day                            
 Market             Current   Previous close  Pct Move
 Singapore          3225.72   3243.92         -0.56
 Bangkok            1720.43   1722.26         -0.11
 Manila             7853.16   7830.96         0.28
 Jakarta            6018.964  6065.149        -0.76
 Kuala Lumpur       1819.66   1820.64         -0.05
 Ho Chi Minh        998.07    988.17          1.00
 Change on year                               
 Market             Current   End 2017        Pct Move
 Singapore          3225.72   3402.92         -5.21
 Bangkok            1720.43   1753.71         -1.90
 Manila             7853.16   8558.42         -8.24
 Jakarta            6018.964  6355.654        -5.30
 Kuala Lumpur       1819.66   1796.81         1.27
 Ho Chi Minh        998.07    984.24          1.41
 (Reporting by Sumeet Gaikwad in Bengaluru; Editing by Amrutha
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