By Krishna V Kurup
April 10 Southeast Asian stocks began the week
on a sluggish note as rising geopolitical worries soured
Broader Asian stocks struggled, with MSCI's broadest index
of Asia-Pacific shares outside Japan falling for
a third consecutive session, heading back to a three-week low
tested on Friday.
"There is a bit of risk-off sentiment after last week's U.S.
air strike in Syria and the news saying that the U.S. military
is sending an aircraft carrier group near the Korean peninsula,"
said Victor Felix, an equity analyst with AB Capital Securities.
Profit-taking was likely to set in after markets in the
region rallied last week, he added.
After the United States launched missile strikes on a Syrian
air base alleged to have launched a deadly poison gas attack on
Syrian civilians, Secretary of State Rex Tillerson warned that
the strikes were a warning to other nations, including North
A U.S. Navy strike group will be moving toward the western
Pacific Ocean near the Korean peninsula as a show of force, a
U.S. official told Reuters on Saturday, as concerns grow about
North Korea's advancing weapons programme.
Thai shares were down 0.2 percent, with industrials
and material stocks falling the most.
Energy shares were the only gainers in the region, supported
by steady oil prices.
Airports of Thailand Pcl shed 1.3 percent, while
PTT Pcl gained 0.3 percent.
Indonesian shares were flat.
Local institutional investors were taking profits, while
foreign investors were buying, said Taye Shim, head of research
at Jakarta-based Mirae Asset Sekuritas.
"Foreign investors were net building positions in the
banking space," Shim added.
Financial stocks gained, with Bank Central Asia Tbk Pt
and Bank Rakyat Indonesia (Persero) Tbk Pt
rising 1.3 percent and 0.8 percent, respectively.
The index of the region's 45 most liquid stocks
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SOUTHEAST ASIAN STOCK MARKETS: Change at 0518 GMT
Market Current Prev close Pct Move
Singapore 3176.64 3177.27 -0.02
Bangkok 1579.97 1583.53 -0.22
Manila 7596.64 7583.75 0.17
Jakarta 5652.241 5653.486 -0.02
Kuala Lumpur 1738.42 1741.72 -0.19
Ho Chi Minh 729.77 727.95 0.25
Change on year
Market Current End 2016 Pct Move
Singapore 3176.64 2880.76 10.27
Bangkok 1579.97 1542.94 2.40
Manila 7596.64 6840.64 11.1
Jakarta 5652.241 5296.711 6.71
Kuala Lumpur 1738.42 1641.73 5.89
Ho Chi Minh 729.77 664.87 9.8
(Reporting by Krishna V Kurup in Bengaluru; Additional
reporting by Christina Martina; Editing by Amrutha Gayathri)