August 29, 2018 / 10:08 AM / 4 months ago

SE Asia Stocks-Muted amid caution over U.S.-China trade outcome

    * Malaysia retreats from a 3-month high
    * Singapore stocks fall after two sessions of gains
    * Thailand rises for third straight session

    By Sumeet Gaikwad
    Aug 29 (Reuters) - Southeast Asian stock markets were
subdued on Wednesday as a key deadline looms next week in the
trade dispute between Washington and Beijing.
    The public comment period for 25 percent U.S. tariffs on
another $200 billion of Chinese goods is set to end on Sept. 5
and the tariffs are expected to take effect in late September.
 
    Malaysian shares retreated from a three-month high
hit in the previous session, weighed down by healthcare and
telecom stocks.
    Dialog Group, down nearly 3 percent, was the
biggest drag, while medical gloves and equipment maker Hartalega
Holdings Bhd slid nearly 4 percent.
    Financials weighed on the Philippine index with BDO
Unibank dropping 1 percent. Aboitiz Equity Ventures
 was the biggest drag on the benchmark, falling nearly 3
percent.    
    Singapore stocks were marginally lower after two
straight sessions of gains.
    Conglomerate Jardine Matheson Holdings fell 1
percent while lender Oversea-Chinese Banking Corp
retreated 0.6 percent. 
    Indonesian stocks ended 0.4 percent higher on the
back of gains in consumer discretionary and energy stocks. 
    The index of the country's 45 most liquid stocks
was up 0.6 percent. 
    Thai shares closed higher for a third straight
session, eking out minor gains. PTT Global Chemical
rose nearly 2 percent while real estate developer U City
plunged over 30 percent. 
         
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SOUTHEAST ASIAN STOCK MARKETS
 Change on the day                            
 Market             Current   Previous close  Pct Move
 Singapore          3243.92   3247.55         -0.11
 Bangkok            1722.26   1718.15         0.24
 Manila             7830.96   7844.61         -0.17
 Jakarta            6065.149  6042.65         0.37
 Kuala Lumpur       1820.64   1826.9          -0.34
 Ho Chi Minh        988.17    995.19          -0.71
                                              
 Change on year                               
 Market             Current   End 2017        Pct Move
 Singapore          3243.92   3402.92         -4.67
 Bangkok            1722.26   1753.71         -1.79
 Manila             7830.96   8558.42         -8.50
 Jakarta            6065.149  6355.654        -4.57
 Kuala Lumpur       1820.64   1796.81         1.33
 Ho Chi Minh        988.17    984.24          0.40
 
 (Reporting by Sumeet Gaikwad in Bengaluru; Editing by Amrutha
Gayathri)
  
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