June 14, 2019 / 9:49 AM / 3 months ago

SE Asia Stocks-Most fall on poor China industrial output data, Philippines worst hit

    * Thai stocks post fourth straight weekly gain 
    * Weak China industrial output growth weighs 
    * Vietnam snaps three sessions of losses 

    By Shreya Mariam Job
    June 14 (Reuters) - Most Southeast Asian stock markets fell
on Friday, with Philippines leading declines, as disappointing
output growth in China frayed investor sentiment and curbed risk
appetite. 
    Industrial output growth in China, the region's biggest
trade partner, unexpectedly slowed to a more than 17-year low in
May, while investment also cooled, in the latest sign of
weakening demand in the world's second-largest economy as the
United States ramped up trade pressure.
    Regional stocks moved in tandem with broader Asian stocks
hit by worries of slowing growth in the world's second largest
economy with MSCI's broadest index of Asia-Pacific shares
outside Japan down 0.3%.
    The Philippine index pared some of its early losses
to close 0.8% lower. For the week, the index recorded a marginal
gain. 
    "From our perspective, these declines are driven by mostly
profit-taking... since a lot of these companies rallied for the
past week," said Rachelle C Cruz, an analyst at AP Securities.
    Shares of SM Investment Corp dropped 2.1%, while
Ayala Land Inc slipped 1.9%. 
    The Indonesian benchmark dropped 0.4%, dragged by
consumer and financials stocks. The index rose 0.7% this week. 
    Charoen Pokphand Indonesia Tbk Pt shed 5.1% to
close at more than two week low. Bank Negara Indonesia (Persero)
Tbk Pt dipped 1.7%. 
    Financial and utility stocks drove losses on the Malaysian
index, with shares of Public Bank Bhd and
Tenaga Nasional Bhd losing 1.3% and 1.1%,
respectively. For the week, the benchmark dipped 0.3%.
    Thai stocks closed the session marginally lower but
posted its fourth consecutive weekly gain of 1.1%.  
    Vietnam's index snapped three sessions of losses to
end 0.4% higher and snapped three sessions of losses with
financial stocks contributing the most to the gains. For the
week, the index dropped 0.5%.

    
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SOUTHEAST ASIAN STOCK MARKETS
    
 Change on the day                                
 Market                 Current   Previous close  Pct Move
 Singapore              3222.63   3220.66         0.06
 Bangkok                1672.33   1674.14         -0.11
 Manila                 7990.2    8051.76         -0.76
 Jakarta                6250.265  6273.082        -0.36
 Kuala Lumpur           1638.63   1643.74         -0.31
 Ho Chi Minh            953.61    950.08          0.37
                                                  
 Change so far in 2019                            
 Market                 Current   End 2018        Pct Move
 Singapore              3222.63   3068.76         5.01
 Bangkok                1672.33   1563.88         6.93
 Manila                 7990.2    7,466.02        7.02
 Jakarta                6250.265  6,194.50        0.90
 Kuala Lumpur           1638.63   1690.58         -3.07
 Ho Chi Minh            953.61    892.54          6.84
 
 (Reporting by Shreya Mariam Job in Bengaluru; Editing by Rashmi
Aich)
  
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