July 4, 2017 / 5:29 AM / 2 months ago

SE Asia Stocks-Fall as risk sentiment hurt after N.Korea missile test

    By Chandini Monnappa
    July 4 (Reuters) - Southeast Asian stocks slipped on Tuesday
as risk appetite took a hit after North Korea test-launched a
ballistic missile. 
    The launch of the missile, which landed in Japan's Exclusive
Economic Zone, came days before leaders from the Group of 20
nations are due to discuss steps to rein in Pyongyang's weapons
programmes. 
    "We can expect the missile launch to cause some backlash and
a bit of risk-off among Asian investors at least for the rest of
the week," said Victor Felix, an equity analyst with AB Capital
Securities.
    Global crude oil prices rose more than 2 percent on Monday,
but had little impact on Southeast Asian traders.
    The Jakarta Composite Index led the losses in the
region, falling 0.6 percent as consumer staples and
telecommunication shares declined. Telekomunikasi Indonesia
(Persero) Tbk PT slipped as much as 2.7 percent and
was the biggest drag on the index.
    Indonesia is hoping for additional inflows worth $10 billion
from pension funds and other institutional investors over the
next two years, President Joko Widodo said, after Standard &
Poor's on May 19 upgraded the country's credit rating to
investment grade. 
    Philippine stocks also drifted lower, dragged down by
real estate and industrial stocks.
    A Reuters poll showed that the Philippines' annual inflation
likely eased in June, a development that would further reduce
chances of an interest rate hike this year.   
    Meanwhile, Singapore inched down 0.4 percent and
Vietnam shares fell 0.5 percent.
    
    For Asian Companies click;  

SOUTHEAST ASIAN STOCK MARKETS: Change at 0450 GMT
 Change on the day                                  
 Market                   Current   previous close  Pct Move
 Singapore                3211.05   3223.46         -0.38
 Bangkok                  1577.83   1579.41         -0.10
 Manila                   7841.48   7866.52         -0.32
 Jakarta                  5874.236  5910.237        -0.61
 Kuala Lumpur             1763.7    1768.67         -0.28
 Ho Chi Minh              774.96    778.88          -0.50
                                                    
 Change so far this year                            
 Market                   Current   End 2016        Pct Move
 Singapore                3211.05   2880.76         11.47
 Bangkok                  1577.83   1542.94         2.26
 Manila                   7841.48   6840.64         14.63
 Jakarta                  5874.236  5296.711        10.90
 Kuala Lumpur             1763.7    1641.73         7.43
 Ho Chi Minh              774.96    664.87          16.56
                                                    
 


 (Reporting by Chandini Monnappa; Editing by Amrutha Gayathri)
  

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