April 11, 2017 / 10:32 AM / 4 months ago

SE Asia Stocks-Most down as Syria, North Korea tensions weigh

    April 11 (Reuters) - Most Southeast Asian stocks ended down
on Tuesday as geopolitical tensions stemming from Syria and
North Korea continued to hurt risk appetite.
    Markets indulged in mixed trading, "taking note of the
recent heightened geopolitical tensions as the U.S. sent a
carrier strike group to Northern Korean Peninsular,"
Singapore-based Net Research Asia said in a note.
    The possibility of military action against North Korea in
response to its weapon tests grew after the U.S. missile strikes
against Syria last week in retaliation to a chemical weapons'
attack on civilians.
    "Traders mentioned the upcoming French elections, Brexit
negotiations and the G7 meeting as key impediments for markets
in the short term," Net Research Asia added.

    The White House said U.S. President Donald Trump was open to
authorising more strikes on Syria, while pressure is building on
Russia to break its ties with Syrian President Bashar al-Assad
as G7 foreign ministers start efforts to build a united front
against Assad.    
    Indonesian shares posted their third consecutive
session of declines, with the index of the country's 45 most
liquid stocks closing down 0.5 percent.
    Financials were the biggest losers, with Bank Mandiri
(Persero) Tbk Pt shedding 2.5 percent.    
    The Philippines reversed early gains to end in
negative territory, pulled down by real estate stocks, with SM
Prime Holdings dropping 2.5 percent.
    "Market traded in positive territory for most of today but
was swamped by profit-taking towards close," RCBC Securities
said in a note.
    Bucking the trend, other markets in the region traded
marginally higher.
    
    For Asian Companies click;  

    SOUTHEAST ASIAN STOCK MARKETS: Change on day
    
  Market             Current        Prev close    Pct Move
  Singapore          3174.75        3181.45       -0.21
  Bangkok            1582.78        1581.19       0.10
  Manila             7601.4         7617.91       -0.22
  Jakarta            5627.933       5644.299      -0.29
  Kuala Lumpur       1735.84        1739.52       -0.21
  Ho Chi Minh        731.33         729.87        0.20
                                                  
  Change on year                                  
  Market             Current        End 2016      Pct Move
  Singapore          3174.75        2880.76       10.21
  Bangkok            1582.78        1542.94       2.58
  Manila             7601.4         6840.64       11.1
  Jakarta            5627.933       5296.711      6.25
  Kuala Lumpur       1735.84        1641.73       5.73
  Ho Chi Minh        731.33         664.87        10
 

 (Reporting by Krishna V Kurup in Bengaluru; Additional
reporting by Sindhu Chandrasekaran; Editing by Sherry
Jacob-Phillips)
  

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