August 11, 2017 / 10:07 AM / 10 days ago

SE Asia Stocks-End lower as N. Korea tensions spook investors

    By Sandhya Sampath
    Aug 11 (Reuters) - Southeast Asian stock markets saw
broad-based declines on Friday, with Indonesia and Singapore
falling over 1 percent each, as the continuing standoff between
the U.S. and North Korea kept investors on edge.
    Fresh bouts of fiery rhetoric came as U.S. President Donald
Trump warned North Korea again not to strike Guam or its allies,
saying his earlier threat may not have been tough enough.

    "If the war of words escalates into a military engagement,
our estimates suggest a derailing of global growth, led by a
fall in both trade volumes and asset prices," said Barnabas Gan,
an economist at OCBC Bank.
    MSCI's broadest index of Asia-Pacific shares outside Japan
 skid 1.6 percent, its biggest one-day loss since
mid-December, while Wall Street closed sharply lower overnight.

    Singapore's FTSE Straits Times Index ended down 1.3
percent, marking its biggest percentage loss since Oct. 2016. It
ended the week 1.4 percent lower. 
    A better-than-expected revision to second-quarter economic
growth in the city-state and a 1.9 percent rise in June retail
sales failed to boost sentiment. 
    Financials and consumer goods led the decline, with DBS
Group Holdings Ltd ending 2.2 percent lower, while
Thai Beverage PCL lost 1.6 percent.
    Indonesia snapped three days of gains to end 1
percent lower, posting its worst day since December 2016. The
index shed 0.2 percent this week.
    Financials and consumer stocks were the biggest drag on the
index with Bank Central Asia Tbk PT ending 0.8 percent
lower.
    The Philippine stock index fell for a fourth day,
ending 0.5 percent lower, and was down marginally for the week.
    While recent earnings may have weighed, the main drag on the
index was the tension between the U.S. and North Korea, said
Charles Ang, an analyst with Manila-based COL Financial.
    Financials and utilities were the hardest hit, with Aboitiz
Equity Ventures Inc closing 2.6 percent lower.
    Vietnam closed slightly lower after a fourth session
of losses. The index shed 2.1 percent this week.
    
For Asian Companies click;  

SOUTHEAST ASIAN STOCK MARKETS: Change on day    
 Change on day                                      
 Market              Current       Previous Close  Pct Move
 Singapore           3279.72       3323.24         -1.31
 Bangkok             1561.31       1571.64         -0.66
 Manila              7928.43       7966.25         -0.47
 Jakarta             5766.138      5825.946        -1.03
 Kuala Lumpur        1766.96       1777.77         -0.61
 Ho Chi Minh         772.08        773.43          -0.17
                                                    
 Change on year                                     
 Market              Current       End 2016        Pct Move
 Singapore           3279.72       2880.76         13.85
 Bangkok             1561.31       1542.94         1.2
 Manila              7928.43       6840.64         15.9
 Jakarta             5766.138      5296.711        8.86
 Kuala Lumpur        1766.96       1641.73         7.63
 Ho Chi Minh         772.08        664.87          16.1
 
 (Reporting by Sandhya Sampath; Editing by Sunil Nair)
  

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