May 16, 2019 / 4:04 AM / 3 months ago

SE Asia Stocks-Most slip as U.S. ban on Huawei reignites trade worries

    * Vietnam trades higher
    * Malaysia awaits GDP growth data
    * Indonesia down ahead of cenbank policy rate decision

    By Nikhil Subba
    May 16 (Reuters) - Most Southeast Asian stock markets
slipped on Thursday, with the Philippines leading losses, as
U.S.-China trade friction intensified after Washington's ban on
China's Huawei Technologies Co Ltd         .
    The U.S. Commerce Department said on Wednesday it is adding
Huawei and 70 affiliates to its so-called "Entity List" — a move
that bans the telecom giant from buying parts and components
from U.S. companies without a government approval.
    "Trump is moving to curb Huawei's access to the U.S. market
and American suppliers. This can be taken negatively with
regards to how the Trump administration plans to ease tensions
between the two largest economies in the world," Fio Dejesus,
equity research analyst at RCBC Securities, said.  
    Philippine stocks fell almost 1% to their lowest
since Jan. 3, pressured by energy and consumer cyclicals.
    The Philippines, an ally of the United States, in February,
pushed ahead to launch a Huawei Technologies-backed 5G service
in the country, even as Washington said it would rethink
cooperation with allies that use Huawei.
    Malaysia stocks marginally slipped ahead of its
first quarter gross domestic product (GDP) data, which is
expected to grow at a much slower pace than the previous
quarter, according to a Reuters poll.
    Top losers on the index were synthetic rubber gloves maker
Hartalega Holdings, which saw its worst day in
one-week and Malaysia Airports Holdings, which dropped
1.4%.    
    Indonesia's index edged lower ahead of central
bank's policy decision later in the day, as the apex bank is
expected to keep its benchmark interest rates unchanged after
the country posted its widest monthly trade deficit in
history.
    Mall operator Bliss Properti Indonesia slumped
nearly 19%, while engineering services company ABM Investama
 dropped to a record low.    
    However, U.S. President Donald Trump is planning to delay
tariffs on auto imports, providing some relief to markets hit by
a flare-up in trade tensions.
    Vietnam stocks were trading marginally higher,
boosted by energy and technology stocks.

    
For Asian Companies click;  

SOUTHEAST ASIAN STOCK MARKETS AT 0328 GMT
    
    
  Market          Current    Previous Close  Pct Move
  Singapore       3218.51    3218.77         -0.01
  Bangkok         1612.89    1621.27         -0.52
  Manila          7511.02    7576.71         -0.87
  Jakarta         5962.719   5980.885        -0.30
  Kuala Lumpur    1610.09    1611.43         -0.08
  Ho Chi Minh     977.24     975.64          0.16
                                             
  Change on year                             
  Market          Current    End 2017        Pct Move
  Singapore       3218.51    3068.76         4.88
  Bangkok         1612.89    1563.88         3.13
  Manila          7511.02    8558.42         -12.24
  Jakarta         5962.719   6194.498        -3.74
  Kuala Lumpur    1610.09    1690.58         -4.76
  Ho Chi Minh     977.24     984.24          -0.71
 
    


 (Reporting by Nikhil Subba; editing by Uttaresh.V)
  
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