By Sindhu Chandrasekaran
April 7 Southeast Asian stock markets except the
Philippines traded lower on Friday, in line with broader
Asia, after the United States launched cruise missiles against
an air base in Syria.
Philippine stocks bucked the trend, hitting its highest in
over five months.
U.S. President Donald Trump said on Thursday he ordered
missile strikes against a Syrian airfield from which a deadly
chemical weapons attack was launched, declaring he acted in
America's "vital national security interest" against Syrian
President Bashar al-Assad.
MSCI's broadest index of Asia-Pacific shares outside Japan
declined as much as 0.9 percent.
The decline in the regional market is mainly due to (the
overnight) U.S. attack on Syria and the "geopolitical tension
has put some selling pressure in the regional markets," said
Manny Cruz, an analyst with Manila-based Asiasec Equities Inc.
Singapore stocks, the biggest loser in the region,
fell as much as 1 percent, extending losses into a fourth
straight session, with financials accounting for nearly half of
the fall. DBS Group Holdings Ltd shed 0.7 percent.
Indonesia snapped four sessions of gains and was
down 0.6 percent. Telecom stocks led the losses with
telecommunications and network services provider, Telekomunikasi
Indonesia Tbk losing 1.2 percent.
The index of the region's 45 most liquid stocks
fell as much as 0.9 percent.
Thailand slipped 0.2 percent while Vietnam
and Malaysia were flat.
Philippine stocks rose as much as 1.3 percent and were on
track for a fourth session of gains in five. Gains in real
estate and Industrials stocks helped push the index higher.
"There has been buying momentum (in Philippines) from
foreign investors which has pushed the index above the 7,700
barrier," Manny said, adding that foreign investors have been
selling relentlessly in the first quarter of the year due to a
lot of political noise.
The sentiment turned positive after the Philippines economic
planning minister said on Thursday that the economy is expected
to expand between 6.5 and 7 percent in the first quarter or
It is expected that the (Philippine) president will be able
to garner hefty foreign investments during his upcoming visits
to China and the middle eastern countries, Manny added.
For Asian Companies click;
SOUTHEAST ASIAN STOCK MARKETS : Change at 0451 GMT
Market Current previous Pct Move
Singapore 3159.86 3175.59 -0.50
Bangkok 1578.94 1582.12 -0.20
Manila 7644.97 7565.32 1.05
Jakarta 5645.298 5680.239 -0.62
Kuala Lumpur 1737.77 1739.56 -0.10
Ho Chi Minh 723.26 723.22 0.01
Change on year
Market Current End 2016 Pct Move
Singapore 3159.86 2880.76 9.69
Bangkok 1578.94 1542.94 2.33
Manila 7644.97 6840.64 11.8
Jakarta 5645.298 5296.711 6.58
Kuala Lumpur 1737.77 1641.73 5.85
Ho Chi Minh 723.26 664.87 8.8
(Reporting by Sindhu Chandrasekaran; Editing by Vyas Mohan)