December 5, 2018 / 9:37 AM / 12 days ago

SE Asia Stocks-Fall on rising global growth concerns

    * Philippine stocks slide, closing 1 pct lower
    * Broader Asian shares drop on resurgent U.S.-China trade
worries 

    By Shreya Mariam Job
    Dec 5 (Reuters) - Southeast Asian stock markets fell on
Wednesday as sharp declines in long-term U.S. Treasury yields
and waning hopes of a swift resolution to the U.S.-China trade
war spurred worries about global economic growth. 
    Investors sold equities across Asia, with MSCI's broadest
index of Asia-Pacific shares outside Japan
plunging 1.5 percent. 
    "Markets continued to be dampened as doubts over trade truce
grow," Phillip Futures analysts wrote in a note.
    "Even though China have stated that they will push through
with a clear roadmap, there has been nothing concrete announced
yet."
    Philippine stocks slid nearly 1 percent after data
showed an ease in November inflation rates.
    The slowdown in the country's November inflation rates
implies the central bank no longer needs to tighten monetary
policy. Some analysts expect a rate cut next year if the
inflation continues to ease.    
    Industrials and financial stocks retreated, with SM
Investments Corp dipping 2 percent and SM Prime Holdings
Inc weakening 1.6 percent.
    Singapore stocks closed 0.4 percent lower, hurt by
technology and utility stocks, with Jardine Strategic Holdings
Ltd dropping 0.6 percent and DBS Group Holdings Ltd
 declining 1.2 percent.
    Malaysian stocks fell 0.4 percent as
telecommunication services and utility stocks dragged down the
index. Tenaga Nasional Bhd dropped 1.6 percent and
Maxis Bhd shed 2.2 percent.     
    October trade data showed the country had a large surplus,
with exports surging 17.7 percent, more than double the 6.2
percent rise forecast by economists.
    The Thai stock market was closed for a holiday.

    
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SOUTHEAST ASIAN STOCK MARKETS
    
 Change on the day                           
 Market             Current  Previous close  Pct Move
 Singapore          3155.92  3167.79         -0.37
 Manila             7630.9   7703.92         -0.95
 Jakarta            6133.12  6152.86         -0.32
 Kuala Lumpur       1688.27  1694.99         -0.40
 Ho Chi Minh        957.14   958.84          -0.18
                                             
 Change on year                              
 Market             Current  End prev yr     Pct Move
 Singapore          3155.92  3402.92         -7.26
 Manila             7630.9   8,558.42        -10.84
 Jakarta            6133.12  6,355.65        -3.50
 Kuala Lumpur       1688.27  1796.81         -6.04
 Ho Chi Minh        957.14   984.24          -2.75
                                             
 

 (Reporting by Shreya Mariam Job in Bengaluru; Editing by
Amrutha Gayathri)
  
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