April 3, 2018 / 10:04 AM / a year ago

SE Asia Stocks-Most fall on Wall St losses, U.S.-China trade tensions

    * Vietnam shares retreat from record close
    * Malaysia falls to two-week low
    * Philippines climbs to highest close in two weeks

    By Nicole Pinto
    April 3 (Reuters) - Most Southeast Asian stock markets ended
lower on Tuesday as Wall Street's overnight plunge, due to a
sell-off in tech shares, and anxiety over a potential trade war
between the United States and China muted global sentiment.
    The losses in U.S. stocks were led by Amazon.com,
Tesla and Microsoft, while U.S.-China trade
tensions escalated as Beijing warned of counter-measures if the
United States imposed further tariffs on Chinese goods.
   Over the weekend, China imposed extra tariffs on 128 U.S.
products, deepening a dispute between the world's top two
economies and stoking concerns about the impact on global
    Thailand's SET Index was nearly 1 percent lower at
its close, with renewable energy firm Energy Absolute Pcl
 down 12.8 percent, its lowest since Aug. 24. 
    Oil and gas company PTT Pcl fell 1.1 percent
    Vietnam shares retreated 0.7 percent from a record
close. Vietnam Dairy Products JSC closed 3 percent
lower, at a three-week closing low. 
    Singapore shares closed 0.5 percent lower, dragged
down by financials. 
    United Overseas Bank Ltd slipped 1.6 percent to
its lowest since Feb. 14, while DBS Group Holdings Ltd
fell 0.5 percent. 
    Meanwhile, shares in Philippines inched up 0.1
percent, recovering the session's losses to hit a near two-week
closing high. 
    "The Philippine market continued with its bargain-hunting as
the country is viewed as a safe alternative given the ongoing
trade wars," said Luis Limlingan, managing director, Regina
Capital Development Corp. 
    "Some portfolio managers share the view that emerging
markets such as our country may be a beneficiary of the trade
    The industrial sector accounted for most of the gains on the
index, with SM Investments Corp up 3.2 percent and
International Container Terminal Services Inc 2 percent

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 Change on the day                               
 Market             Current      Previous close  Pct Move
 Singapore          3412.15      3430.76         -0.54
 Bangkok            1765.24      1782.28         -0.96
 Manila             8048.72      8039.45         0.12
 Jakarta            6229.013     6240.571        -0.19
 Kuala Lumpur       1850.78      1858.35         -0.41
 Ho Chi Minh        1188.29      1196.61         -0.70
 Change on year                                  
 Market             Current      End 2017        Pct Move
 Singapore          3412.15      3402.92         0.27
 Bangkok            1765.24      1753.71         0.66
 Manila             8048.72      8558.42         -5.96
 Jakarta            6229.013     6355.654        -1.99
 Kuala Lumpur       1850.78      1796.81         3.00
 Ho Chi Minh        1188.29      984.24          20.73

 (Reporting by Nicole Pinto in Bengaluru, additional reporting
by Neil Jerome Morales; Editing by Amrutha Gayathri)
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