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SE Asia Stocks-Singapore, Philippines tumble over 1 pct
August 11, 2017 / 4:36 AM / 4 months ago

SE Asia Stocks-Singapore, Philippines tumble over 1 pct

    By Sandhya Sampath
    Aug 11 (Reuters) - In Southeast Asia, the Singapore and
Philippine stock markets fell more than one percent on Friday as
mounting tensions between the United States and North Korea
unnerved investors, in  a global slide that also took down Wall
Street and regional peers.   
    In Asia, shares skidded 1.2 percent in its
third session of losses, while Wall Street closed sharply lower
overnight after U.S. President Donald Trump warned North Korea
again not to strike Guam or its allies. 
    "While the U.S. President insists on ramping up the war of
words, there is a decreasing chance of any diplomatic solution,"
 said ING's chief Asia economist Robert Carnell in a research
note.
    Shares in Singapore lost as much as 1.1 percent, and
were on track for a 1.1 percent drop on week, with a
better-than-expected revision to second-quarter economic growth
failing to boost sentiment.
    Financials and industrials dragged the index lower, with DBS
Group Holdings Ltd falling as much as 2.8 percent and
Jardine Matheson Holdings Ltd sliding as much as 1.4
percent. 
    The Philippine stock index dropepd as much as 1.2
percent, its fourth straight session of losses, pulled down by
consumer cyclicals and utilities.
    Megaworld Corp, the biggest loser on the index, 
fell as much as 3.5 percent.
    Tensions between the United States and North Korea were the
main drag on the index, said Charles Ang, an analyst with
Manila-based COL Financial.
    Indonesia fell as much as 0.9 percent, snapping
three days of gains to post its biggest intraday loss in three
weeks. Financials and consumer staples weighed on the index. 
    Thai shares fell as much as 0.5 percent, on track
for a third straight losing session.
    

For Asian Companies click;  

SOUTHEAST ASIAN STOCK MARKETS: Change at 0350 GMT
    
 Change on the day                                    
 Market              Current        Previous Close   Pct Move
 Singapore           3290.86        3323.24          -0.97
 Bangkok             1564.72        1571.64          -0.44
 Manila              7932.38        7966.25          -0.43
 Jakarta             5772.035       5825.946         -0.93
 Kuala Lumpur        1769.1         1777.77          -0.49
 Ho Chi Minh         774.31         773.43           0.11
                                                      
 Change on year                                       
 Market              Current        End 2016         Pct Move
 Singapore           3290.86        2880.76          14.24
 Bangkok             1564.72        1542.94          1.41
 Manila              7932.38        6840.64          16.0
 Jakarta             5772.035       5296.711         8.97
 Kuala Lumpur        1769.1         1641.73          7.76
 Ho Chi Minh         774.31         664.87           16.5
 
 (Reporting by Sandhya Sampath; Editing by Biju Dwarakanath)
  

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