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Soumyajit Saha

SE Asia Stocks-Singapore drops on China virus scare, Philippines extends losses

10:26am GMT

* Banking, industrial stocks drag Singapore * Philippines sees worst day in over a year * Banking, real estate stocks drive gains in Vietnam By Soumyajit Saha Jan 21 Singapore's benchmark index fell on Tuesday, tracking broader Asian markets, as a virus outbreak in China took a toll on risk appetite, while Philippines was hit by losses in the financial sector. With millions travelling on Tuesday for the Lunar New Year holiday, authorities in China confirmed the virus could spread through human contact, while the World Health Organization met to consider declaring an international health emergency. "Concerns over the spread of the virus is the predominant mover today," said Linus Loo, head of research at Lim & Tan Securities. "Unfortunately, it's coming at a bad time, just ahead of the travel-heavy New Year week." Losses in the banking and industrial sectors dragged down Singapore shares, with real estate developer Capitaland Ltd and conglomerate Jardine Strategic Holdings down 1.8% and 1.5% respectively. Philippine stocks dropped to their lowest close in more than a year, hurt by heavy losses in the financial sector. Conglomerate Ayala Corp and real estate developer Ayala Land fell 4.7% and 2.5%, respectively, while lender Bank of the Philippine Islands was down 4.2%. Regulatory scrutiny on certain projects related to the Ayala group had led to "possible regulatory risks involved in private sector's contracts with the government," AP Securities analyst Rachelle Cruz said. The Manila Times https://www.manilatimes.net/2020/01/19/news/headlines/duterte-to-review-lrt-contract-next/675652/# on Sunday reported that President Rodrigo Duterte would review a government rail transit contract with Ayala and Metro Pacific Investment Corp. The newspaper https://www.manilatimes.net/2020/01/20/news/top-stories/palace-isnt-done-with-ayala-targets-technohub/675908 also reported on Monday that a presidential spokesperson had hinted at investigations into an Ayala IT park. Thai stocks were also lower, hurt by losses in the industrial and financial sectors. Real estate investor Asset World Corp fell 4.1%, while airport operator Airports of Thailand PCL dropped 3%. Gains in the financial sector helped lift Vietnam shares . Real estate developer Vinhomes JSC and lender Joint Stock Commercial Bank for Investment and Development of Vietnam were up 1.7% and 1.3% respectively. "The index is in a rebound trend after the year-end period and recent favourable results, especially for banking sectors, further support this trend," said Trung Le, an analyst at Hanoi-based BIDV Securities Co. For Asian Companies click; SOUTHEAST ASIAN STOCK MARKETS STOCK MARKETS Change on the day Market Current Previous Pct Move close Singapore 3247.17 3280.09 -1.00 Bangkok 1574.94 1589.11 -0.89 Manila 7466.65 7552.6 -1.14 Jakarta 6238.153 6245.043 -0.11 Kuala Lumpur 1587.33 1588.88 -0.10 Ho Chi Minh 986.37 978.63 0.79 Change so far in 2020 Market Current End 2019 Pct Move Singapore 3247.17 3222.83 0.76 Bangkok 1574.94 1579.84 -0.31 Manila 7466.65 7,815.26 -4.46 Jakarta 6238.153 6,299.54 -0.97 Kuala Lumpur 1587.33 1588.76 -0.09 Ho Chi Minh 986.37 960.99 2.64 (Reporting by Soumyajit Saha in Bengaluru; Editing by Anil D'Silva)

SE Asia Stocks-Singapore falls on China virus fears, Philippines extends losses

4:03am GMT

* Banking and industrial stocks drag Singapore * Industrial and utility stocks weigh on Thailand By Soumyajit Saha Jan 21 Singapore stocks dropped over 1% tracking broader Asia, as investors were spooked by an escalating coronavirus outbreak in China, while Philippines slid under the 1% mark for the second consecutive session on concerns of regulatory incursions into private contracts. The outbreak of a new coronavirus has spread to more Chinese cities, including Shanghai and the capital Beijing, authorities said on Monday. "Concerns over the spread of the virus is affecting market sentiments. Unfortunately, it's coming at a bad time because it's the travel season in China ahead of the New Year celebrations," said Linus Loo, head of research at Lim & Tan Securities. Losses in the banking and industrial sectors weighed on the city-state's benchmark as it fell to its lowest in nearly two weeks. Lender DBS Group Holdings lost nearly 1%, while conglomerate Jardine Strategic Holdings was down over 2%. Philippine shares were dragged down by heavy losses in the financial sector, with conglomerate Ayala Corp and real estate developer Ayala Land shedding 5.1% and 2.8% respectively. Regulatory scrutiny on certain projects related to the Ayala group had led to "possible regulatory risks involved in private sector's contracts with the government," Rachelle Cruz, analyst at AP Securities said. Foreign investors seem to have concerns about other companies that have similar contracts, and the possibility of probes into such contracts, Cruz added. President Rodrigo Duterte on Friday said he would review a government rail transit contract https://www.manilatimes.net/2020/01/19/news/headlines/duterte-to-review-lrt-contract-next/675652 with Ayala and Metro Pacific Investment Corp, while the presidential spokesperson had separately hinted at investigations into an Ayala IT park https://www.manilatimes.net/2020/01/20/news/top-stories/palace-isnt-done-with-ayala-targets-technohub/675908, on Sunday, The Manila Times reported. Thai stocks were also lower, hurt by losses in the industrial and utility sectors. Airport operator Airports of Thailand PCL dropped 3.7%, while chemical maker PTT Global Chemical PCL plunged 6%. For Asian Companies click; SOUTHEAST ASIAN STOCK MARKETS AS AT 0318 GMT STOCK MARKETS Change on the day Market Current Previous Pct Move close Singapore 3243.93 3280.09 -1.10 Bangkok 1585.34 1589.11 -0.24 Manila 7481.12 7552.6 -0.95 Jakarta 6252.105 6245.043 0.11 Kuala Lumpur 1589.74 1588.88 0.05 Ho Chi Minh 982.09 978.63 0.35 Change so far in 2020 Market Current End 2019 Pct Move Singapore 3243.93 3222.83 0.65 Bangkok 1585.34 1579.84 0.35 Manila 7481.12 7,815.26 -4.28 Jakarta 6252.105 6,299.54 -0.75 Kuala Lumpur 1589.74 1588.76 0.06 Ho Chi Minh 982.09 960.99 2.20 (Reporting by Soumyajit Saha in Bengaluru; Editing by Shailesh Kuber)

SE Asia Stocks-Philippines at lowest close in 3 mths on real estate, infra stocks

20 Jan 2020

* Ayala Land, Ayala Corp, Metro Pacific drag down Philippines * Protest against new bills hurts risk sentiment in Indonesia * Siam Commercial drops to lowest close in over 8 years By Soumyajit Saha Jan 20 Philippine stocks dropped over 2% to their lowest close in over three months, hurt by losses in the real estate and infrastructure sectors, while banking shares dragged down the Thai index. Heavyweight real estate developer Ayala Land, conglomerate Ayala Corp and utilities company Metro Pacific Investments Corp fell between 5.4% and 7%, after increased government scrutiny on certain projects. Philippine president Rodrigo Duterte on Friday said he would be reviewing the Manila Light Rail Transit contract, part of which is with a consortium of Ayala Corp and Metro Pacific Investments, the Manila Times reported https://www.manilatimes.net/2020/01/19/news/headlines/duterte-to-review-lrt-contract-next/675652 on Sunday. According to a separate Manila Times story https://www.manilatimes.net/2020/01/20/news/top-stories/palace-isnt-done-with-ayala-targets-technohub/675908, the Presidential spokesperson on Sunday said the Ayala Technohub, an Ayala Land IT park project, might be subjected to an investigation. "It looks like the purported review of the two contracts could be exerting pressure on the two entities (Ayala group and Metro Pacific Investments)" Charles William Ang, associate analyst at COL Financial Group said. Losses in the banking sector dragged Thai shares down. Lender Siam Commercial Bank dropped 12.8% to its lowest close in over 8 years, on reporting lower quarterly net interest income and attributable profit on Friday. Indonesian stocks declined, as losses in the consumer and banking sectors weighed on the index. Cigarette maker Hanjaya Mandala Sampoerna was down 2.2%, while lender Bank Negara Indonesia (Persero) gave up 2.9%. An index of Indonesia's 45 most liquid stocks was down 0.7%. Protests by several thousand Indonesian workers against the so-called "omnibus" bills, covering 79 laws and meant to replace dozens of overlapping laws seen as obstacles to investment, soured market sentiment. "We think that investors are re-calibrating their excitement of the omnibus law acting as a key catalyst for the nation's growth," said Taye Shim, head of research at Mirae Asset Sekuritas. For Asian Companies click; SOUTHEAST ASIAN STOCK MARKETS STOCK MARKETS Change on the day Market Current Previous Pct Move close Singapore 3280.09 3281.03 -0.03 Bangkok 1589.11 1600.48 -0.71 Manila 7552.6 7722.58 -2.20 Jakarta 6245.043 6291.657 -0.74 Kuala Lumpur 1588.88 1595.81 -0.43 Ho Chi Minh 978.63 978.96 -0.03 Change so far in 2020 Market Current End 2019 Pct Move Singapore 3280.09 3222.83 1.78 Bangkok 1589.11 1579.84 0.59 Manila 7552.6 7,815.26 -3.36 Jakarta 6245.043 6,299.54 -0.87 Kuala Lumpur 1588.88 1588.76 0.01 Ho Chi Minh 978.63 960.99 1.84 (Reporting by Soumyajit Saha in Bengaluru)

SE Asia Stocks-Philippines plunges nearly 2% on real estate, infra stocks

20 Jan 2020

* Ayala Land, Ayala Corp, Metro Pacific drag down Philippines * Siam Commercial posts biggest intraday drop in over 11 years By Soumyajit Saha Jan 20 Philippine shares slumped nearly 2% to a one-month low on Monday, dragged by sharp losses in real estate and infrastructure heavyweights after reports of increased government scrutiny on certain projects. President Rodrigo Duterte said on Friday he would review the Manila Light Rail Transit contract, the Manila Times reported https://www.manilatimes.net/2020/01/19/news/headlines/duterte-to-review-lrt-contract-next/675652 on Sunday. A consortium of conglomerate Ayala Corp and utility company Metro Pacific Investments Corp was contracted to upgrade and expand the LRT Line 1 in 2014. In a separate story, the daily quoted https://www.manilatimes.net/2020/01/20/news/top-stories/palace-isnt-done-with-ayala-targets-technohub/675908 a palace spokesperson as saying the Ayala Technohub, an Ayala Land IT park project, might also be subjected to an investigation. Ayala Land, Ayala Corp and Metro Pacific Investments Corp fell between 5.6% and 6%. "It looks like the purported review of the two contracts could be exerting pressure on the two entities (Ayala group and Metro Pacific Investments)," Charles William Ang, associate analyst at COL Financial Group, said. Most other Southeast Asian stock markets edged lower in low-trade volumes. "Ahead of the Chinese New Year, as well as it being a U.S. holiday today, trading volumes are quite low in the region," said Nicholas Yon, an equity research analyst at Singapore-based Lim & Tan securities. Thai shares fell, hurt most by losses in banking stocks. Heavyweight Siam Commercial Bank dropped as much as 12.8% in its worst intraday trading in over 11 years, after it reported lower quarterly net interest income and attributable profit on Friday. Singapore stocks declined slightly, weighed down by losses in financials. United Overseas Bank was 0.6% lower, while real estate developer CapitaLand Ltd fell 0.8%. For Asian Companies click; SOUTHEAST ASIAN STOCK MARKETS AS AT 0350 GMT STOCK MARKETS Change on the day Market Current Previous close Pct Move Singapore 3274.15 3281.03 -0.21 Bangkok 1593.88 1600.48 -0.41 Manila 7578.85 7722.58 -1.86 Jakarta 6280.846 6291.657 -0.17 Kuala Lumpur 1594.41 1595.81 -0.09 Ho Chi Minh 976.06 978.96 -0.30 Change so far in 2020 Market Current End 2019 Pct Move Singapore 3274.15 3222.83 1.59 Bangkok 1593.88 1579.84 0.89 Manila 7578.85 7,815.26 -3.02 Jakarta 6280.846 6,299.54 -0.30 Kuala Lumpur 1594.41 1588.76 0.36 Ho Chi Minh 976.06 960.99 1.57 (Reporting by Soumyajit Saha in Bengaluru; Editing by Subhranshu Sahu)

SE Asia Stocks-Most rise on Sino-U.S. trade deal hopes

06 Dec 2019

* Thailand extends to eighth sessions of losses * Singapore gains on industrials, real estate * Consumer, resources helps Indonesia By Soumyajit Saha Dec 6 Most Southeast Asian stock markets ended higher on Friday, following hopes of a preliminary Sino-U.S. trade deal after upbeat comments by the Trump administration. U.S. President Donald Trump said on Thursday the trade talks were "moving right along", despite a lack of agreement over whether existing tariffs should be dropped as part of the preliminary deal. "While we are not expecting any resolution (in the Sino-U.S. tariff war), any deal to curb further escalation will be welcomed", Paul Chew, head of research at Phillip Securities Research said. Singapore shares rose, backed by gains in the real estate and industrial sectors. Conglomerate Jardine Matheson Holdings Ltd was up 1.1%, while real estate developer Capitaland Ltd rose 1.7%. Consumer and resource stocks helped the Indonesian index advance, capping off a 2.9% rise for the week. Chemical maker Chandra Asri Petrochemical rose 1%, while cigarette maker Hanjaya Mandala Sampoerna was up 3.5%. An index of the 45 most liquid stocks in Indonesia gained 0.6%. Consumer and utility stocks lifted Malaysia's benchmark index. Agribusiness Sime Darby Plantation advanced 2.5%, while electricity distributor Tenaga Nasional rose 1.2%. Bucking the general trend Thai shares fell for the eighth consecutive session, hurt most by losses in the utilities sector. The index fell 1.9% for the week. Utilities company Glow Energy PCL dropped 3.6% after the Stock Exchange of Thailand declared the de-listing of its securities on the company's request. For Asian Companies click; SOUTHEAST ASIAN STOCK MARKETS STOCK MARKETS Change on the day Market Current Previous Pct Move close Singapore 3194.71 3174.19 0.65 Bangkok 1558.99 1565.45 -0.41 Manila 7801.72 7790.91 0.14 Jakarta 6186.868 6152.117 0.56 Kuala Lumpur 1568.44 1563.58 0.31 Ho Chi Minh 963.56 963.27 0.03 Change so far in 2019 Market Current End 2018 Pct Move Singapore 3194.71 3068.76 4.10 Bangkok 1558.99 1563.88 -0.31 Manila 7801.72 7,466.02 4.50 Jakarta 6186.868 6,194.50 -0.12 Kuala Lumpur 1568.44 1690.58 -7.22 Ho Chi Minh 963.56 892.54 7.96 (Reporting by Soumyajit Saha in Bengaluru, additional reporting by Anushka Trivedi; Editing by Shounak Dasgupta)

SE Asia Stocks-Edge higher on Trump's upbeat comments on trade

06 Dec 2019

* Thailand on pace to snap seven sessions of losses * Indonesia hits near 1-mth high * Consumer, utility stocks help Malaysia By Soumyajit Saha Dec 6 Most Southeast Asian stock markets ticked higher on Friday, as risk sentiment was lifted by positive comments from Washington on the ongoing trade talks with Beijing. U.S. President Donald Trump said on Thursday the talks were "moving right along", even as the two sides remained at loggerheads over rolling back existing tariffs and other issues such as the protests in Hong Kong. "U.S.-China trade talks are complex; fraught with a multitude of quantitative (e.g. magnitude of farm purchases) and qualitative (e.g. IP and forced transfer of technology) issues. But at this stage, tariff rollback threatens to be the deal-breaker," Mizuho Bank said in a note to clients. Thai stocks were set to snap seven sessions of losses, helped by gains in the industrial and energy sectors, but were still on track to lose over 1% for the week. Gas explorer PTT PCL and airport operator Airports of Thailand both gained more than 1%. Investors seemed to be bargain hunting among Thai stocks, as well as engaging in some catch-up trade as markets opened after a public holiday, said Teerada Charnyingyong, strategist at Phillip Capital Thailand. Indonesian shares touched a near 1-month high and were set to gain over 2% for the week. The index was lifted by consumer heavyweights like Hanjaya Mandala Sampoerna and Indofood CBP Sukses Makmur , which rose 3% and 0.5%, respectively. Consumer and utility stocks lifted the Malaysia's benchmark index. Agribusiness Sime Darby Plantations advanced 2%, while electricity distributor Tenaga Nasional rose 0.8%. Meanwhile, Singapore shares traded flat as gains in industrials were offset by losses in the consumer sector. The index was on track to lose 0.7% for the week. For Asian Companies click; SOUTHEAST ASIAN STOCK MARKETS AS AT 0410 GMT STOCK MARKETS Change on the day Market Current Previous close Pct Move Singapore 3173.03 3174.19 -0.04 Bangkok 1572.37 1565.45 0.44 Manila 7799.5 7790.91 0.11 Jakarta 6163.441 6152.117 0.18 Kuala Lumpur 1567.2 1563.58 0.23 Ho Chi Minh 964.89 963.27 0.17 Change so far in 2019 Market Current End 2018 Pct Move Singapore 3173.03 3068.76 3.40 Bangkok 1572.37 1563.88 0.54 Manila 7799.5 7,466.02 4.47 Jakarta 6163.441 6,194.50 -0.50 Kuala Lumpur 1567.2 1690.58 -7.30 Ho Chi Minh 964.89 892.54 8.11 (Reporting by Soumyajit Saha in Bengaluru; Editing by Sriraj Kalluvila)

SE Asia Stocks-Most rise on Sino-U.S. trade deal optimism; Philippines falls

05 Dec 2019

* Singapore snaps six sessions of declines * Rise in Nov. inflation hurts Philippines * Resource, banking stocks help Indonesia By Soumyajit Saha Dec 5 Most Southeast Asian stock markets ended higher on Thursday, with Indonesia leading the gains, buoyed by hopes of a preliminary Sino-U.S. trade deal before further tariffs kick in on Dec. 15. U.S. President Donald Trump on Wednesday raised expectations of a breakthrough after he said negotiations with China were "going very well," relieving some pressure in a week that has seen the U.S. announce tariffs on multiple other countries. Separately, media reports suggested the world's top two economies were closer to agreeing on the amount of tariffs to be rolled back in a phase-one trade deal. "However, until the day we see it (a trade deal) in black and white, investors are likely to remain cautious and vigilant on this matter," said Margaret Yang Yan, analyst at CMC Markets. Resource and banking stocks helped the Indonesian index rise the most in the region. Chemicals maker Chandra Asri Petrochemical advanced 1.6%, while lender Bank Rakyat Indonesia (Persero) was 2.2% higher. An index of the 45 most liquid stocks in Indonesia gained 1.3%. Singapore's benchmark index snapped six sessions of losses, helped by gains in the real estate and consumer sectors. Real estate developer Capitaland rose 0.8%, while agribusiness company Wilmar International was up 2.5%. Philippine stocks fell after the country's inflation accelerated to 1.3% in November from a year earlier, higher than October's 0.8% climb. "The inflation data was slightly higher than the state's target, so there might be some dial back in the BSP's (Bangko Sentral ng Pilipinas) easing measures, and the market is reacting to that," said Rachelle Cruz, an analyst at Manila-based AP Securities. The index was also dragged by big cap stocks like Ayala Land and Metro Pacific, after Philippine President Rodrigo Duterte ordered https://in.reuters.com/article/philippines-politics-utilities/philippines-duterte-orders-prosecution-of-utilities-over-onerous-contracts-idINKBN1Y81PM the filing of criminal charges against two water utilities related to them. "The sentiment is negative for foreign investors if there is political interference in businesses, especially as it is related to water infrastructure," Rachelle added. Malaysian shares rose on gains in the consumer and banking sectors, while Vietnam stocks were slightly lower. Markets in Thailand were closed for a public holiday. For Asian Companies click; SOUTHEAST ASIAN STOCK MARKETS STOCK MARKETS Change on the day Market Current Previous Pct Move close Singapore 3174.19 3159.79 0.46 Manila 7790.91 7815.93 -0.32 Jakarta 6152.117 6112.879 0.64 Kuala Lumpur 1563.58 1560.93 0.17 Ho Chi Minh 963.27 965.9 -0.27 Change so far in 2019 Market Current End 2018 Pct Move Singapore 3174.19 3068.76 3.44 Bangkok 1565.45 1563.88 0.10 Manila 7790.91 7,466.02 4.35 Jakarta 6152.117 6,194.50 -0.68 Kuala Lumpur 1563.58 1690.58 -7.51 Ho Chi Minh 963.27 892.54 7.92 (Reporting by Soumyajit Saha in Bengaluru; Editing by Rashmi Aich)

SE Asia Stocks-Most gain on Sino-U.S. trade deal hopes; Philippines slips

05 Dec 2019

* Singapore snaps six sessions of declines * Indonesia hits highest in over 2 weeks * Industrial, real estate hurt Philippines By Soumyajit Saha Dec 5 Most Southeast Asian stock markets traded higher on Thursday, lifted by signals that Washington and Beijing were on course to reach a preliminary trade deal. Trade negotiations with China were going "very well", U.S. President Donald Trump said on Wednesday, a day after suggesting that a deal may not come until after the 2020 U.S. presidential election. The comments had triggered declines in global markets on Wednesday. "It appears that Trump's off the rails representation of U.S.-China trade deal negotiations, having unduly flustered earlier, triggered a knee-jerk relief response," Mizuho Bank said in a note to clients. "The relief for now is welcome, but complacency is not. Fact is, unpredictability looks like a mainstay in global affairs". Separately, media reports suggested the world's top two economies were closer to agreeing on the amount of tariffs to be rolled back in a phase-one trade deal. Shares in Singapore, considered a bellwether for global trade conditions, snapped six sessions of declines. Gains in real estate stocks such as Capitaland and consumer stocks like Wilmar International, both up over 1%, propped up the index. Indonesian stocks hit their highest in over two weeks, helped by consumer and banking stocks. Consumer goods company Unilever Indonesia rose 0.7%, while lender Bank Rakyat Indonesia (Persero) advanced 1.5%. An index of the 45 most liquid stocks in Indonesia gained 0.8%. But Philippine shares bucked the trend, down 0.3% on losses in the industrial and real estate sectors. Inflation in the country accelerated to 1.3% in November from a year earlier, matching expectations and higher than October's 0.8% climb. Financial stocks helped Vietnam rise, while Malaysian shares also benefited from gains in the consumer and banking sectors. Markets in Thailand were closed for a public holiday. For Asian Companies click; SOUTHEAST ASIAN STOCK MARKETS STOCK MARKETS Change on the day Market Current Previous Pct Move close Singapore 3176.12 3159.79 0.52 Manila 7790.79 7815.93 -0.32 Jakarta 6143.165 6112.879 0.50 Kuala Lumpur 1563.83 1560.93 0.19 Ho Chi Minh 966.73 965.9 0.09 Change so far in 2019 Market Current End 2018 Pct Move Singapore 3176.12 3068.76 3.50 Bangkok 1565.45 1563.88 0.10 Manila 7790.79 7,466.02 4.35 Jakarta 6143.165 6,194.50 -0.83 Kuala Lumpur 1563.83 1690.58 -7.50 Ho Chi Minh 966.73 892.54 8.31 (Reporting by Soumyajit Saha in Bengaluru; Editing by Sriraj Kalluvila)

SE Asia Stocks-Philippines leads declines as most markets fall on trade war fears

04 Dec 2019

* Real estate stocks weigh on Philippines * Malaysia stocks fall after dismal trade data * Vietnam gains more than 1% By Soumyajit Saha Dec 4 Most Southeast Asian stock markets ended lower on Wednesday, with Philippines falling the most, as U.S. President Donald Trump doused hopes of a preliminary deal to cancel further tariffs on China, set to come into force in about 11 days. Trump said on Tuesday that he had "no deadline" for a trade deal with China, and could wait until after the U.S. presidential election in November 2020 to sign an agreement. The announcement came a day after Washington proposed separate tariffs on Brazil, Argentina and France, stoking fears of further slowdown in a global economy already battered by the Sino-U.S. trade war. Meanwhile, Bloomberg on Wednesday reported that the United States and China are moving closer to agreeing on the amount of tariffs to be rolled back in a phase-one trade deal. Trump's statements implied a "prolonged uncertainty well into the next year" for markets in Southeast Asia, ING bank said in a note to clients. Singapore's benchmark index, one of the most sensitive market to tariff war developments, ended at their lowest level in over a month. Index heavyweights United Overseas Bank and Capitaland Ltd fell 0.6% and 1.4%, respectively. Losses in real estate stocks weighed on the Philippine index as it fell, with SM Prime Holdings and Ayala Land losing 0.7% and 2.7%, respectively. Malaysian shares were slightly lower, after data showed that the country's exports dropped for the third straight month in October, though the pace of decline was slower than expected. Bucking the general trend, Vietnam stocks ended more than 1% higher, buoyed by gains in financials. Lenders Vietnam Technological And Commercial Joint Stock Bank and Joint Stock Commercial Bank for Foreign Trade of Viet Nam rose 4% and 3.3%, respectively. Vietnam has largely weathered the effects of the long drawn trade war that have hit its neighbours, supported by rising exports of smartphones and spare parts, and other electronics appliances. For Asian Companies click; SOUTHEAST ASIAN STOCK MARKETS Change on the day Market Current Previous close Pct Move Singapore 3159.79 3173.08 -0.42 Bangkok 1565.45 1567.63 -0.14 Manila 7815.93 7855.18 -0.50 Jakarta 6112.879 6133.896 -0.34 Kuala Lumpur 1560.93 1562.27 -0.09 Ho Chi Minh 965.9 953.43 1.31 Change so far in 2019 Market Current End 2018 Pct Move Singapore 3159.79 3068.76 2.97 Bangkok 1565.45 1563.88 0.10 Manila 7815.93 7,466.02 4.69 Jakarta 6112.879 6,194.50 -1.32 Kuala Lumpur 1560.93 1690.58 -7.67 Ho Chi Minh 965.9 892.54 8.22 (Reporting by Soumyajit Saha in Bengaluru; Editing by Rashmi Aich)

SE Asia Stocks-Most markets fall as Trump hardens trade war rhetoric

04 Dec 2019

* Trump says he could delay signing deal with China until end-2020 * Malaysia stocks fall to their lowest in 8 weeks * Vietnam bucks trend to gain slightly By Soumyajit Saha Dec 4 Most Southeast Asian stock markets tracked a global downturn on Wednesday as the Trump administration dashed hopes of a quick preliminary deal to halt impending U.S. tariffs on China. U.S. President Donald Trump on Tuesday said he had "no deadline" for a trade deal with China, and could wait until after the U.S. presidential election in November 2020 to sign an agreement. "There is justifiable cause to correlate Trump's bluster to Beijing's insistence that tariff rollback is a pre-condition to any deal," Mizuho Bank said in a note to clients. "In which case, it seems Trump's priority is to not appear weak in the run-up to the elections." The imminent tariffs on China, set to kick in on December 15, will only add to market woes as it is besieged by the repercussions of multiple U.S. tariffs on Argentina, Brazil and France, all announced earlier this week. Tariff-sensitive Singapore stocks fell to their lowest in six weeks, dented by losses in consumer and banking sectors. Lender United Overseas Bank fell over 1%, while agribusiness company Wilmar International lost over 2%. The Philippine index fell, as losses in real estate stocks weighed on the index, with SM Prime Holdings and Ayala Land slipping 1.9% and 2.1%, respectively. Malaysian shares fell to their lowest in nearly eight weeks, after data showed that the country's exports dropped for the third straight month in October, though the pace of decline was slower than expected. The index was dragged lower by weakness in telecom and financial sectors. Bucking the trend, Vietnam stocks edged a tick higher, helped by gains in financials. Real estate developer Vingroup was up 0.5%, while Joint Stock Commercial Bank for Foreign Trade of Viet Nam rose 1.6%. For Asian Companies click; SOUTHEAST ASIAN STOCK MARKETS AS AT 0350 GMT STOCK MARKETS Change on the day Market Current Previous Pct Move close Singapore 3149.33 3173.08 -0.75 Bangkok 1565.87 1567.63 -0.11 Manila 7789.66 7855.18 -0.83 Jakarta 6107.325 6133.896 -0.43 Kuala Lumpur 1554.42 1562.27 -0.50 Ho Chi Minh 954.43 953.43 0.10 Change so far in 2019 Market Current End 2018 Pct Move Singapore 3149.33 3068.76 2.63 Bangkok 1565.87 1563.88 0.13 Manila 7789.66 7,466.02 4.33 Jakarta 6107.325 6,194.50 -1.41 Kuala Lumpur 1554.42 1690.58 -8.05 Ho Chi Minh 954.43 892.54 6.93 (Reporting by Soumyajit Saha in Bengaluru, Editing by Sherry Jacob-Phillips)

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