September 24, 2018 / 4:18 AM / 8 months ago

SE Asia Stocks-Singapore shares hit over 3-week high, Indonesia slips

    By Devika Syamnath
    Sept 24 (Reuters) - Singapore stocks touched their
highest in over three weeks on Monday, ahead of key inflation
data due later in the day while Indonesian shares
slipped into the red against the backdrop of ongoing
presidential elections in Southeast Asia's biggest economy.
    "The rebound in risk appetite witnessed last week we think
may be done, with investors likely sidelined pending headline
risks from Sino-US trade talks," said OCBC in a note to clients.
    Asian shares stumbled in holiday-thinned trading as China
ramped up trade tensions by cancelling upcoming tariff talks
with the United States.
    MSCI's broadest index of Asia-Pacific shares outside Japan
 dipped as much as 0.8 percent.
    Monday will also see U.S. duties on $200 billion of Chinese
goods coming into effect, with China having retaliated by adding
$60 billion of U.S. products to its import tariff list.

    Indonesian shares lost up to 1 percent. Financials
and consumer discretionary stocks were the biggest drags with
Bank Negara and Astra International losing
as much as 2.9 percent and 1.4 percent, respectively.
    Indonesian President Joko Widodo launched his re-election
campaign on Friday, looking to win over big blocs of millennial
and Muslim voters.    
    Thai shares traded sideways with gains in bank and
real estate stocks countering losses in consumer staples and
materials stocks. 
    U City PCL advanced up to 33.3 percent and was the
top boost while Siam Cement PCL was the biggest drag,
down 1.3 percent. 
    Malaysian shares snapped a three-session gain streak
to lose as much as 0.6 percent.
    Singapore shares added as much as 0.5 percent and
headed for a fourth session of gains ahead of inflation data
which is cued to touch an over-four-year high in August,
according to a Reuters poll.
    The city-state's fifth largest company by market
capitalization, Keppel Corp, said it was considering a
deal related to its holdings in communication provider M1 Ltd
 and its stake in Keppel Telecommunications &
    Financials accounted for over half of the index's gains with
top boost United Overseas Bank rising up to 1.7
percent to its highest since Sept. 3. 
    Real estate and utility stocks helped Vietnamese shares
 touch their strongest level in over three months.
    Petrovietnam Gas Joint Stock Corp and  Masan Group
Corp were the biggest contributors to the index gains. 
For Asian Companies click;  

 Change on day                                
 Market             Current   Previous close  Pct Move
 Singapore          3230.32   3217.68         0.39
 Bangkok            1753.62   1756.12         -0.14
 Manila             7406.84   7383            0.32
 Jakarta            5902.843  5957.744        -0.92
 Kuala Lumpur       1800.57   1810.64         -0.56
 Ho Chi Minh        1009.55   1002.97         0.66
 Change on year                               
 Market             Current   End 2017        Pct Move
 Singapore          3230.32   3402.92         -5.07
 Bangkok            1753.62   1753.71         -0.01
 Manila             7406.84   6840.64         8.28
 Jakarta            5902.843  6355.654        -7.12
 Kuala Lumpur       1800.57   1796.81         0.21
 Ho Chi Minh        1009.55   664.87          51.84
 (Reporting by Devika Syamnath in Bengaluru; Editing by Sunil
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