May 3, 2018 / 3:57 AM / 25 days ago

SE Asia Stocks-Fall as U.S.-China trade tensions hurt

    * Singapore sees worst day in over 4 weeks
    * Philippines heads for second straight session of loss
    * Indonesia, Malaysia fall for sixth session in nine
    * 

    By Sumeet Gaikwad
    May 3 (Reuters) - Southeast Asian stock markets fell on
Thursday as investor risk appetite diminished ahead of the much
awaited China-U.S. trade talks which are scheduled to begin
later in the day.
    A U.S. delegation led by Treasury Secretary Steven Mnuchin,
will meet Chinese officials for talks on Thursday and Friday. 
   The most likely outcome is an agreement to keep talking, with
U.S. President Donald Trump maintaining his threat to press
ahead with punitive tariffs on Chinese goods, trade experts say.

    MSCI's broadest index of Asia-Pacific shares outside Japan
 fell 0.5 percent.
    International pressure to avoid a trade war, and Beijing's
restraint are perhaps a consolation; and in fact worst-case
(broad-brush tariff) scenarios may be avoided, Mizuho Bank said
in a note.
    Singapore shares snapped four sessions of gains,
retreating from a 10-1/2 year high, to fall 1.5 percent.
Financials faltered, with the city-state's biggest lender DBS
Group Holdings dropping over 5 percent, while United
Overseas Bank shed 2 percent.
    Indonesian shares fell the most in over a week on
broad-based losses. Telekomunikasi Indonesia was the
biggest drag on the index, falling as much as 2.3 percent, while
lender Bank Mandiri dropped over 2.8 percent.
    An index of the country's 45 most liquid stocks
fell over 2 percent.
    Industrials and financials weighed on the Philippine index
, with SM Investments Corp declining 3.8 percent
while Bank of the Philippine Islands fell 2 percent.
    The Vietnam index was down 2 percent. Utilities and
financials were the biggest losers, with Petrovietnam Gas
 and Joint Stock Commercial Bank for Investment and
Development of Vietnam sliding 7 percent each.   
    Malaysian shares were trading flat as gains in
consumer stocks were wiped off by losses in financials.
    CIMB Group Holdings fell as much as 2 percent,
while Nestle (Malaysia) was up 2.5 percent.
    Thai shares fell marginally due to losses in real
estate and energy stocks.
         
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SOUTHEAST ASIAN STOCK MARKETS: AS AT 0340

 Change on day                             
 Market          Current   Previous Close  Pct Move
 Singapore       3560.57   3615.28         -1.51
 Bangkok         1789.92   1791.13         -0.07
 Manila          7615.45   7736.07         -1.56
 Jakarta         5910.814  6012.238        -1.69
 Kuala Lumpur    1851.49   1852.03         -0.03
 Ho Chi Minh     1008.35   1029.08         -2.01
                                           
 Change on year                            
 Market          Current   End 2017        Pct Move
 Singapore       3560.57   3402.92         4.63
 Bangkok         1789.92   1753.71         2.06
 Manila          7615.45   8558.42         -11.02
 Jakarta         5910.814  6355.654        -7.00
 Kuala Lumpur    1851.49   1796.81         3.04
 Ho Chi Minh     1008.35   984.24          2.45
 
 (Reporting by Sumeet Gaikwad in Bengaluru; Editing by Sunil
Nair)
  
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