Company News

SE Asia Stocks-Most fall on uncertainty around tariff concessions

    * China tariff rollback faces opposition in White House-
    * Singapore set for fifth straight weekly gain
    * Thailand set to post biggest weekly gain in over 1 year

    By Sameer Manekar
    Nov 8 (Reuters) - Most Southeast Asian markets on Friday
retreated from the recent risk-on rally, with Singapore falling
the most, as sentiment was hit by doubts over Washington's
tariff rollback announcement.
    A Reuters exclusive report of fierce internal opposition in
the White House to a possible rollback of U.S. tariffs on China
diminished initial optimism over a "phase-one" deal being
reached between the two.
    The idea of a tariff rollback was not part of the original
October "handshake" deal between Chinese Vice Premier Liu He and
U.S. President Donald Trump, sources told Reuters.
    China's commerce ministry had said on Thursday that the two
sides had agreed on tariff reductions in phases.
     "Investors may remain cautious until they see details. The
rollback of existing tariffs is a positive surprise. However,
given President Trump's love of tariffs, the additional element
may risk prolonging the phase one negotiation," OCBC said in a
    U.S. stock futures were down about 0.1% to 0.3% in Asian
    Singapore's benchmark index retreated from a more
than three-week high on Thursday, as industrials and financials
    Casino operator Genting Singapore fell as much as
3.7% on poor third-quarter earnings reported on Thursday after
market hours.
    Industrial conglomerate Jardine Strategic Holdings
and Ascendas Real Estate Investment Trust were among
biggest losers, declining as much as 2.9% and 5.8%,
    However, the index is on track to rise for a fifth
consecutive week.
    The Philippine bourse hit its lowest in more than a
week, dragged by consumer and utilities stocks.
    SM Investments Corp and Aboitiz Equity Ventures
 were down as much as 1.8% and 1.6%, respectively.
    The index was set to post its fifth consecutive weekly gain.
    Indonesian shares extended losses into a third
straight session due to a fall in communication and financial
    State-owned telecom firm Telekomunikasi Indonesia
fell up to 2%, while Bank Central Asia is set to snap
four consecutive weekly gains.
    An index of the country's 45 most liquid stocks
lost as much as 0.8%, set for a third straight loss session.
    Thai stocks were down 0.3%, dragged by real estate
and consumer firms, while Malaysia's benchmark index
ticked lower.

For Asian Companies click;  

 Change on the day                            
 Market             Current   Previous close  Pct Move
 Singapore          3259.65   3285.72         -0.79
 Bangkok            1636.14   1640.88         -0.29
 Manila             8020.7    8073.81         -0.66
 Jakarta            6160.767  6165.624        -0.08
 Kuala Lumpur       1607.77   1609.33         -0.10
 Ho Chi Minh        1023.98   1024.03         0.00
 Change on year                               
 Market             Current   End 2018        Pct Move
 Singapore          3259.65   3068.76         6.22
 Bangkok            1636.14   1563.88         4.62
 Manila             8020.7    7466.02         7.43
 Jakarta            6160.767  6194.498        -0.54
 Kuala Lumpur       1607.77   1690.58         -4.90
 Ho Chi Minh        1023.98   892.54          14.73
 (Reporting by Sameer Manekar in Bengaluru; editing by