June 25, 2018 / 9:55 AM / 3 months ago

SE Asia Stocks-Most markets fall on risk-off sentiment; Vietnam, Indonesia gain

    * Singapore shares extend fall to over 8-1/2-month closing
low
    * Philippine shares erase gains to end lower for eighth
session

    By Ambar Warrick
    June 25 (Reuters) - Most Southeast Asian stock markets fell
on Monday, tracking broader Asia amid a sustained equity
sell-off, while Vietnam shares extended their recovery into a
second session.
    MSCI's broadest index of Asia-Pacific shares outside Japan
 fell about 1 percent after a Wall Street Journal
report that U.S. President Donald Trump planned to bar many
Chinese companies from investing in U.S. technology firms and
block additional technology exports to China.
    Safe-haven assets such as the Japanese yen and gold
 saw higher bids. The yen rose about 0.4 percent against
the dollar.
    In Southeast Asia, Singapore shares fell 0.8 percent,
extending their decline into a third session and hitting their
lowest since Oct. 4, 2017. Financials were the largest drags on
the index, with lenders DBS Group and Oversea-Chinese
Banking Corp shedding 0.9 percent and 1.3 percent
respectively.
    Singapore's headline inflation rate quickened more than
expected in May from a year earlier, hinting that the island
state may see increased inflationary pressure in the near
future.
    Philippine shares gave up early gains to close at
their lowest in 1-1/2 years, and marked their eighth consecutive
session of decline. 
    Industrials were the biggest drags on the index, with SM
Investments Corp declining about 2.7 percent.
    Vietnam shares ended about 0.8 percent higher,
building on Friday's gains, as financial and real estate stocks
led the charge.
    "It's a modest recovery... The market looked technically
oversold on Friday, while valuations are far less expensive now.
However, overall activity is well below peaks and sentiment
remains fragile," said Fiachra MacCana, head of research at Ho
Chi Minh Securities.
    Indonesian shares rose about 0.6 percent, with
consumer staples and financials leading the gains.
    Indonesia's trade deficit narrowed to $1.52 billion in May
but was worse than expected, due to higher oil prices. The
rupiah fell about 0.6 percent to the dollar following
the news.
    An index of the country's 45 most liquid stocks
ended 1.1 percent higher.
    
    SOUTHEAST ASIAN STOCK MARKETS
 STOCK MARKETS                                
 Change on the day                            
 Market             Current   Previous close  Pct Move
 Singapore          3260.84   3287.4          -0.81
 Bangkok            1622.28   1634.98         -0.78
 Manila             6986.88   7063.2          -1.08
 Jakarta            5859.083  5821.812        0.64
 Kuala Lumpur       1678.1    1694.15         -0.95
 Ho Chi Minh        990.52    983.17          0.75
                                              
 Change on year                               
 Market             Current   End 2017        Pct Move
 Singapore          3260.84   3402.92         -4.18
 Bangkok            1622.28   1753.71         -7.49
 Manila             6986.88   8558.42         -18.36
 Jakarta            5859.083  6355.654        -7.81
 Kuala Lumpur       1678.1    1796.81         -6.61
 Ho Chi Minh        990.52    984.24          0.64
 
 (Reporting by Ambar Warrick in Bengaluru; Editing by Subhranshu
Sahu)
  
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