March 7, 2018 / 10:07 AM / 3 months ago

SE Asia Stocks-Most fall in line with broader Asia; Indonesia down 2 pct

    * Philippines snaps 5-session losing streak
    * Indonesia drops for fourth straight session
    * Singapore declines over 1 pct

    By Susan Mathew
    March 7 (Reuters) - Most Southeast Asian stock markets fell
on Wednesday, with Indonesia shedding 2 percent in its sharpest
drop in nearly four months, tracking weakness in broader Asia.
    MSCI's broadest index of Asia-Pacific shares outside Japan
 was down 0.6 percent as fears resurfaced that
U.S. President Donald Trump will proceed with protectionist
tariffs and risk a trade war after a strong White House advocate
for free trade resigned.
    Indonesian shares declined for a fourth straight
session with financial and consumer stocks leading the drop.
Astra International fell 2.8 percent, while clove
cigarette maker Hanjaya Mandala Sampoerna dropped 4.3
percent as its annual profit declined.
    Bank Central Asia finished 0.8 percent lower ahead
of its full-year results on Thursday.
    An index of the nation's 45 most liquid stocks
dropped 2.3 percent, its lowest close in over two months.
    Singapore shares dropped over 1 percent with the
city-state's top three lenders among the biggest drags.
    Malaysian stocks fell for a third session in four
with aluminium trader Press Metal Aluminium and
financial services provider CIMB Group Holdings being
the biggest drags.
    Meanwhile, the central bank left its key interest rate
unchanged as expected, after hiking it for the first time in
over three years in January, as easing inflationary pressures
and solid growth gave it room to hold off further tightening for
now. An ING analyst expects the next rate hike in the third
quarter of 2018.
    Thai shares extended falls into a sixth session, the
longest losing streak since May 2017, with energy and material
stocks being the biggest drags. PTT dropped 2.2
percent, while PTT Global Chemical declined 4.4
percent
    Philippine shares snapped a five-session losing
streak and closed 0.5 percent higher on some buying right before
the close. 

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SOUTHEAST ASIAN STOCK MARKETS: CHANGE ON DAY
    
 Market          Current   Previous close  Pct Move
 Singapore       3450.69   3491.92         -1.18
 Bangkok         1781.64   1799.06         -0.97
 Manila          8404.69   8360.22         0.53
 Jakarta         6368.267  6500.111        -2.03
 Kuala Lumpur    1837.9    1848.37         -0.57
 Ho Chi Minh     1112.26   1120.29         -0.72
                                           
 Change on year                            
 Market          Current   End 2017        Pct Move
 Singapore       3450.69   3402.92         1.40
 Bangkok         1781.64   1753.71         1.59
 Manila          8404.69   8558.42         -1.80
 Jakarta         6368.267  6355.654        0.20
 Kuala Lumpur    1837.9    1796.81         2.29
 Ho Chi Minh     1112.26   984.24          13.01
 

 (Reporting By Susan Mathew in Bengaluru; Editing by Subhranshu
Sahu)
  
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