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SE Asia Stocks- Most end down as Trump tremors cut across global markets
May 18, 2017 / 10:13 AM / 3 months ago

SE Asia Stocks- Most end down as Trump tremors cut across global markets

    By Anusha Ravindranath
    May 18 (Reuters) - Most Southeast Asian stock markets fell
on Thursday tracking weak global shares on heightened concerns
over the Donald Trump administration's future following reports
that the U.S. president allegedly tried to influence a federal
investigation.
    The allegations have not only cast a doubt over Trump's
ability to deliver his promises of tax reforms and pro-growth
policies, but have raised the possibility he could end up
leaving the presidency.
    A small but growing number of Trump's fellow Republicans
called on Wednesday for an independent probe of possible
collusion between his 2016 campaign and Russia, and one even
mentioned impeachment.
    "Since obstruction of justice is considered to be an
impeachable offence, I think that's what is keeping most
investors worried," said Victor Felix, an equity analyst with AB
Capital Securities.'
    "The story is still developing at the U.S. end and pretty
much everyone is tracking that right now. Traders would be
moving to safe-haven assets and I think we are going to continue
to see selling pressure in Asian equities."
    Wall Street witnessed a heavy sell off on Wednesday with the
S&P 500 and the Dow notching their biggest one-day
fall since Sept. 9, 2016, while the dollar fell against safe
haven currencies yen and Swiss franc.
    In Asia, MSCI's broadest index of Asia-Pacific shares
outside Japan dropped 0.8 percent at one point.
    Among regional markets, Philippines ended at its
lowest level in two weeks, as real estate and financial stocks 
fell, after data showed that economy grew at its slowest pace in
more than a year in the first quarter.
    Ayala Land shed 2.7 percent, while  BDO Unibank
 lost 1.4 percent. 
    Malaysian shares logged a third day of loss, dragged
down by telecom sector. Axiata Group Bhd was the worst
performer, closing 3.2 percent lower.
    Meanwhile, Vietnam stocks pulled back from a more
than one-month high to end flat. Singapore shares also
closed flat, while Thai stocks closed marginally lower.
    Jakarta defied the broader trend and ended 0.5
percent higher, helped by gains in financials. Indonesia's
central bank kept its benchmark interest rate unchanged, saying
its decision was consistent with its efforts to maintain
stability at a time of recovery for Southeast Asia's largest
economy. 

For Asian Companies click;  

SOUTHEAST ASIAN STOCK MARKETS
 Change on day                                         
  Market           Current       Previous     Pct Move
                                 Close        
  Singapore        3221.66       3224.1       -0.08
  Bangkok          1545.88       1548.29      -0.16
  Manila           7757.69       7826.53      -0.88
  Jakarta          5645.451      5615.492     0.53
  Kuala Lumpur     1767.17       1775.65      -0.48
  Ho Chi Minh      726.99        727.2        -0.03
                                              
  Change so far                               
 this year                                    
  Market           Current       End 2016     Pct Move
  Singapore        3221.66       2880.76      11.83
  Bangkok          1545.88       1542.94      0.19
  Manila           7757.69       6840.64      13.4
  Jakarta          5645.451      5296.711     6.58
  Kuala Lumpur     1767.17       1641.73      7.64
  Ho Chi Minh      726.99        664.87       9.34
 


 (Reporting by Anusha Ravindranath in Bengaluru; Editing by Vyas
Mohan)
  

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