September 12, 2018 / 4:29 AM / 7 months ago

SE Asia Stocks-Philippine index slips, others subdued as trade war fears persist

    * Philippine shares fall for sixth straight day
    * Singapore July retail sales data expected
    * Malaysian stocks fall 0.7 percent

    By Karthika Suresh Namboothiri
    Sept 12 (Reuters) - Philippine shares fell for the sixth
straight session on Wednesday while other Southeast Asian
markets were largely subdued in line with broader Asia, as
sentiment was hit by an intensifying trade conflict between the
United States and China.
    Economic woes in other emerging markets such as Turkey and
South Africa and worries about quickening inflation in the
Philippines have contributed to a roughly 5 percent slide in
Manila's benchmark index over the past six sessions.
    Industrial stocks SM Investments and JG Summit
, which slipped some 2 percent each, led the decline on
the Philippine index.    
    "While (emerging) markets have been calmer recently, or at
least less turbulent, there is still significant scope for
further volatility", Mohamed A. El-Erian, Chief Economic Advisor
at Allianz SE, told the Reuters Global Markets Forum on
    In retaliation to threats from the United States about a
possible imposition of tariffs on all Chinese imports, China
told the World Trade Organization on Tuesday it wanted to impose
$7 billion a year in sanctions on Washington.
    MSCI's broadest index of Asia-Pacific shares outside Japan
 hovered near its lowest level since July 2017.
    Singaporean shares were largely unchanged ahead of
the release of retail sales data for July.
    Conglomerate Jardine Matheson shed about 1.7
percent and fell to a 19-month low, while Thai Beverage PCL
 gained 3.3 percent.
    Indonesian stocks climbed 0.7 percent and hit a more
than one-week high, boosted largely by consumer and energy
    Unilever Indonesia rose 2.4 percent, while Adaro
Energy gained 2.6 percent.
    An index of the country's 45 most liquid stocks
climbed 0.5 percent.
    Vietnamese shares rose 0.8 percent and saw their
fourth straight day of gains. Oil refiner Petrovietnam Gas
 was the top boost to the index, rising 3.6 percent.
    Malaysian stocks resumed trade following two days of
holidays, and slipped about 0.7 percent. Telecom group Axiata
 lost as much as 4.6 percent.

For Asian companies, click

 Change on the day                            
 Market             Current   Previous close  Pct Move
 Singapore          3106.55   3109.91         -0.11
 Bangkok            1672.9    1672.42         0.03
 Manila             7494.22   7518.01         -0.32
 Jakarta            5854.886  5831.117        0.41
 Kuala Lumpur       1787.11   1799.17         -0.67
 Ho Chi Minh        992.55    985.06          0.76
 Change on year                               
 Market             Current   End 2017        Pct Move
 Singapore          3106.55   3402.92         -8.71
 Bangkok            1672.9    1753.71         -4.61
 Manila             7494.22   8558.42         -12.43
 Jakarta            5854.886  6355.654        -7.88
 Kuala Lumpur       1787.11   1796.81         -0.54
 Ho Chi Minh        992.55    984.24          0.84
 (Additional Reporting by Divya Chowdhury in Mumbai; editing by
Sai Sachin Ravikumar)
0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below