October 30, 2018 / 10:12 AM / 19 days ago

SE Asia Stocks-Tepid; Philippines ends lower as industrials sell-off weighs

    * Philippines sees net foreign outflows of $17.5 mln during
trade
    * Indonesia outperforms peers in region
    * Vietnam extends losses into ninth session

    By Shanima A
    Oct 30 (Reuters) - Most Southeast Asian stock markets were
subdued on Tuesday after  China made a fresh attempt to
stabilise its stock markets amid fears of further escalation in
the Sino-U.S. trade war.
    China, the biggest trade partner for most of the Southeast
Asian countries, said it would encourage share buybacks, mergers
and acquisitions by listed firms, and would enhance market
liquidity.
    Comments by U.S President Donald Trump, who predicted a
"great" deal with China in an interview on Fox News, also
weighed on sentiment.
     Indonesian stocks recovered from previous session's
trough to lead the gains among regional markets. Banking and
telecom stocks accounted for most of the gains with Bank Central
Asia Tbk closing 1.6 percent firmer.
    Thai shares extended gains into a second session,
buoyed by commodities sector, with petroleum explorer PTT Pcl
 adding 1 percent to the bourse. 
    Malaysian shares pared early gains to close marginally
higher.    
    The country's benchmark index rose on hopes that the
government will announce cost-saving measures at its inaugural
budget 2019 speech on Nov. 2, said Redza Rahman, head of
research, MIDF.
    The Malaysian government during it mid-term review said it
would cut development spending and rely more on the private
sector to spur growth.    
    A rout in the industrial stocks caused Philippine
shares to end 1.3 percent weaker. The index will be closed for
national holiday on Thursday and Friday. 
    "Given the global rise in volatility, I think there is an
ongoing sell-off. Foreign investors are especially better off
investing in other markets rather than having their money
stocked here for two days," said Rachelle Cruz, analyst, AP
Securities. 
    The Philippines market saw net foreign outflows of $17.5
million during the session, according to Refinitiv Eikon data. 
    Conglomerates SM Investments Corp and JG Summit
Holdings Inc each closed more than 1.7 percent lower. 
    Singapore shares ended 0.5 percent weaker, with
lender DBS Group Holdings Ltd closing 1 percent lower.
    Vietnam shares ended marginally lower, posting their
ninth straight sessions of declines.    
    
    For Asian Companies click;  

    SOUTHEAST ASIAN STOCK MARKETS 
    
  Market           Current       Previous close  Pct Move
  Singapore        2966.45       2981.54         -0.51
  Bangkok          1638.51       1636.88          0.10
  Manila           7016.06       7109.03         -1.31
  Jakarta          5789.1        5754.607         0.60
  Kuala Lumpur     1685.94       1683.73          0.13
  Ho Chi Minh      888.69        888.82          -0.01
                                                 
  Change on year                                 
  Market           Current       End 2017        Pct Move
  Singapore        2966.45       3402.92         -12.83
  Bangkok          1638.51       1753.71         -6.57
  Manila           7016.06       8558.42         -18.02
  Jakarta          5789.1        6355.654        -8.91
  Kuala Lumpur     1685.94       1796.81         -6.17
  Ho Chi Minh      888.69        984.24          -9.71
 
 (Reporting by Shanima A in Bengaluru; Editing by Sherry
Jacob-Phillips)
  
0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below