April 11, 2017 / 5:31 AM / 4 months ago

SE Asia Stocks-Tepid on risk-off mood; Singapore, Malaysia slip

    April 11 (Reuters) - Southeast Asian stocks traded sideways
on Tuesday, with Singapore and Malaysia edging down, as
geopolitical worries arising from the Middle East and the Korean
peninsula kept investors on the edge.
    Broader Asian shares were down in choppy trade after the
White House said on Monday that President Donald Trump was open
to authorizing additional strikes on Syria after U.S. missile
strikes last week on a Syrian air base.

    Investors are also nervous about the possibility of U.S.
military action against North Korea, as a U.S. Navy strike group
headed toward the western Pacific Ocean near the Korean
peninsula as a show of force.
    The heightened geopolitical risks come at a time when the
global economy has shown steady improvement, led by the United
States and encouraging momentum in export-reliant Asia.

    Singapore shares fell as much as 0.5 percent, largely
on losses in financial and industrial stocks. 
    "Singapore has generally done well, so there could be some
profit-booking," said Shekhar Jaiswal, head of research at RHB
Securities Singapore.
    Oversea-Chinese Banking Corp fell 0.7 percent,
while Jardine Matheson Holdings lost 1.4 percent.
    Meanwhile, Philippine shares rose as much as 0.4
percent, supported by consumer and energy stocks. 
    "It's just fund-flows affecting the local market today -
global investors are now going back to emerging markets," said
Charles Ang, an analyst with Manila-based COL Financial.
    Universal Robina Corp gained 2.8 percent, while
Semirara Mining and Power Corp rose 1.1 percent.
    Malaysian stocks fell as much as 0.3 percent, while
other Southeast Asian markets were little changed.  
    
    For Asian Companies click;  

SOUTHEAST ASIAN STOCK MARKETS: Change at 0456 GMT
    
  Market             Current        Prev close    Pct Move
  Singapore          3170.6         3181.45       -0.34
  Bangkok            1583.03        1581.19       0.12
  Manila             7637           7617.91       0.25
  Jakarta            5646.779       5644.299      0.04
  Kuala Lumpur       1734.37        1739.52       -0.30
  Ho Chi Minh        731.1          729.87        0.17
                                                  
  Change on year                                  
  Market             Current        End 2016      Pct Move
  Singapore          3170.6         2880.76       10.06
  Bangkok            1583.03        1542.94       2.60
  Manila             7637           6840.64       11.6
  Jakarta            5646.779       5296.711      6.61
  Kuala Lumpur       1734.37        1641.73       5.64
  Ho Chi Minh        731.1          664.87        10
 


 (Reporting by Krishna V Kurup in Bengaluru; Editing by Amrutha
Gayathri)
  

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