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SE Asia Stocks-Most fall on N.Korea worries; S'pore gains
September 5, 2017 / 4:58 AM / 3 months ago

SE Asia Stocks-Most fall on N.Korea worries; S'pore gains

    By Aditya Soni
    Sept 5 (Reuters) - Most Southeast Asian stock markets fell
on Tuesday as simmering tensions on the Korean Peninsula
continued to hurt sentiment, while Singapore shares gained after
data showed factory activity in August rose at the fastest pace
in nearly three years.
    South Korea said on Tuesday an agreement with the United
States to scrap a weight limit on its warheads would help it
respond to North Korea's nuclear and missile threat after
Pyongyang conducted its sixth and largest nuclear test two days
ago.
    The White House declared on Monday "all options to address
the North Korean threat are on the table."
    "Today regional markets are down, this is basically on the
back of renewed tensions in North Korea", said Lexter Azurin, a
senior analyst with Manila-based AB Capital Securities.
    However, Singapore shares rose 0.3 percent, after
data released on Monday evening showed Singapore manufacturing
PMI in August rose to 51.8 from 51.0 in July, boosted by a rise
in new orders, new exports and factory output. 
    Financials outperformed all other sectors, with index
heavyweights DBS Group Holdings and Oversea-Chinese
Banking Corp gaining 1.3 percent and 0.5 percent,
respectively. 
    Philippines shares fell 0.5 percent despite upbeat
CPI data that showed that the country's annual inflation
accelerated for a second straight month.
    Annual inflation in August picked up to 3.1 percent from 2.8
percent in July, slightly higher than market expectations of 3.0
percent, but within the central bank's forecast range of 2.6-3.4
percent.
    Inflation remaining within the Philippine central bank's
target range does not necessarily mean that it will continue to
keep rates steady at current levels, DBS Group analysts said in
a note.
    "At this juncture, there is still a good chance to see a
25bps rate hike by the year-end," DBS said.
    Industrials and financials were the biggest drags on the
index, with JG Summit Holdings falling 1.7 percent and
SM Investments Corp down 0.7 percent. 
    Indonesian shares fell 0.3 percent, with the
country's largest telecom company by market cap, Telekomunikasi
Indonesia (Persero), falling 1.1 percent to its lowest
in six weeks and Unilever Indonesia losing 1.1
percent.
    Malaysian shares were down 0.3 percent and Thai
shares posted meagre losses.                   
    
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SOUTHEAST ASIAN STOCK MARKETS AT 0417 GMT
  Change on day                                        
  Market           Current       Previous     Pct Move
                                 Close        
  Singapore        3241.34       3230.97      0.32
  Bangkok          1617.96       1619.11      -0.07
  Manila           7998.79       8035.2       -0.45
  Jakarta          5796.274      5813.741     -0.30
  Kuala Lumpur     1767.25       1773.16      -0.33
  Ho Chi Minh      792           788.73       0.41
                                              
  Change so far                               
 this year                                    
  Market           Current       End 2016     Pct Move
  Singapore        3241.34       2880.76      12.52
  Bangkok          1617.96       1542.94      4.86
  Manila           7998.79       6840.64      16.93
  Jakarta          5796.274      5296.711     9.43
  Kuala Lumpur     1767.25       1641.73      7.65
  Ho Chi Minh      792           664.87       19.12
 
 (Reporting by Aditya Soni; Additional reporting by Nicole Pinto
in Bengaluru; Editing by Amrutha Gayathri)
  

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