October 15, 2018 / 10:45 AM / a month ago

SE Asia Stocks-End lower on caution ahead of earnings season

    * Indonesia down despite Sept trade surplus
    * Singapore sheds nearly 0.8 pct

    By Chandini M
    Oct 15 (Reuters) - Southeast Asian stocks tracked global
peers lower on Monday as investors fretted over the impact of
U.S.-China trade spat, while caution ahead of corporate results
and uncertainty over a clean Brexit kept risk appetite subdued.
    Over the weekend, China central bank governor Yi Gang said
he still saw plenty of room for adjustment in interest rates and
the reserve requirement ratio, as downside risks from trade
tensions with the United States remained significant.
 
    MSCI's broadest index of Asia-Pacific shares outside Japan
 fell 1 percent while Shanghai shares
were down 0.75 percent, with investors bracing for a European
Union summit from Wednesday amid concerns over Brexit.

    Manny Cruz, an analyst at Asiasec Equities Inc said regional
markets fell due to weakness in broader Asia amid fears that
some U.S. companies may post lower-than-expected earnings.
    "The Brexit deal is also hanging in the balance and is
causing anxiety," he added. 
    Although stocks in the region recovered on Friday, partly
after Chinese trade data showed strong growth in September,
investors turned cautious on Monday as a bounceback in oil
prices and rising tensions between Western powers and Saudi
Arabia added to a confluence of factors that battered global
equities last week.
    "With China's GDP data expected later this week, people are
just waiting on the sidelines," said Joel Ng, an analyst with
KGI Securities.
    Gang said on Sunday China's economic growth would
comfortably reach its full-year target of around 6.5 percent
with the possibility of overshooting. The GDP data is expected
on October 19.
    After see-sawing during the day, Indonesian shares
settled 0.5 percent lower. The country's trade balance
unexpectedly swung back to surplus in September as imports and
exports grew much slower than expected, data released by the
statistics bureau showed on Monday.
    Philippine shares ended the session 1.1 percent
lower, hurt by industrial and consumer stocks. Conglomerates SM
Investments and Universal Robina Corp were the
biggest drags on the benchmark.
    The Vietnamese index ended 1.9 percent lower while
Singapore shares shed nearly 0.8 percent.
    Thailand markets were closed for a holiday.
    
    For Asian Companies click;  

SOUTHEAST ASIAN STOCK MARKETS
    
  Market           Current       Previous close  Pct Move
  Singapore        3045.97       3069.17         -0.76
  Manila           6926.51       7004.77         -1.12
  Jakarta          5727.256      5756.49         -0.51
  Kuala Lumpur     1728.74       1730.74         -0.12
  Ho Chi Minh      951.64        970.08          -1.90
                                                 
  Change on year                                 
  Market           Current       End 2017        Pct Move
  Singapore        3045.97       3402.92         -10.49
  Manila           6926.51       8558.42         -19.07
  Jakarta          5727.256      6355.654        -9.89
  Kuala Lumpur     1728.74       1796.81         -3.79
  Ho Chi Minh      951.64        984.24          -3.31
 

 (Reporting by Chandini Monnappa, additional reporting by Rashmi
Ashok; Editing by Vyas Mohan)
  
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