March 13, 2019 / 3:53 AM / 3 months ago

SE Asia Stocks-Most fall ahead of China industrial data; risk sentiment weakens

    * Investors await China Jan-Feb industrial output data
    * Fundamentals still weak, concern is slowing economies -
analyst
    * Singapore loses most; banks and real estate stocks drag

    By Rashmi Ashok
    March 13 (Reuters) - Most Southeast Asian stock markets were
subdued on Wednesday, with Singapore taking the biggest hit, as
investors remained cautious ahead of key industrial output data
from China, amid plummeting risk appetite across broader Asia.
    Further dampening the global sentiment, British lawmakers
rejected Prime Minister Theresa May's amended Brexit deal which
had provided short-lived cheer in the previous session, putting
the fate of the world's fifth largest economy on the line.

    Investors in the region turned cautious ahead of Southeast
Asia's largest trading partner China's January-February combined
industrial output and retail sales data due on Thursday. 
    Recent gloomy data from the economic giant has cast gloomy
spells on markets, sparking doubts about global growth and
economic outlook amid a damaging Sino-U.S. trade war.
    Losing most among regional stocks, Singapore's index
slipped 0.8 percent after a strong performance in the previous
session. 
    "In the end, you still go back to fundamentals, and that is
slowing trade and slowing economies. Expectations are not at a
high level for Chinese data... I think there's some cautiousness
ahead of that," said Joel Ng, an analyst at KGI Securities.
    He also added that the drop could also be in part, due to
the jump of the index in the previous session, prompting some
profit taking among investors as they look towards more
defensive plays amid prospects of slowing Chinese demand.
    Shares of lender DBS Group Holdings Ltd, down 1.2
percent and real estate company City Developments Ltd,
about 0.8 percent lower, were among the top drags on the index.
    Investors appeared to stay on the sidelines, as indexes in
Thailand, Indonesia and Philippines were
little changed, edging marginally lower. 
    In Philippines, conglomerate SM Investments Corp
slipped 1.6 percent to largely drag the index, offsetting
gains among real estate company SM Prime Holdings Inc
and food and beverage producer Universal Robina Corp.
    Meanwhile, Vietnam's index rose 0.5 percent as real
estate and financials boosted its benchmark. Vingroup JSC
 rose 0.7 percent while Vincom Retail JSC
gained 2.5 percent. 

    
    

    
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SOUTHEAST ASIAN STOCK MARKETS at 0312 GMT
 Change on the day                                
 Market                 Current   Previous close  Pct Move
 Singapore              3187.79   3212.25         -0.76
 Bangkok                1626.61   1627.59         -0.06
 Manila                 7743.22   7747.54         -0.06
 Jakarta                6352.349  6353.774        -0.02
 Kuala Lumpur           1674.35   1671.28         0.18
 Ho Chi Minh            1006.75   1001.32         0.54
                                                  
 Change so far in 2019                            
 Market                 Current   End 2018        Pct Move
 Singapore              3187.79   3068.76         3.88
 Bangkok                1626.61   1563.88         4.01
 Manila                 7743.22   7,466.02        3.71
 Jakarta                6352.349  6,194.50        2.55
 Kuala Lumpur           1674.35   1690.58         -0.96
 Ho Chi Minh            1006.75   892.54          12.80
 


 (Reporting by Rashmi Ashok in Bengaluru; Editing by Rashmi
Aich)
  
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