October 26, 2018 / 10:02 AM / 10 months ago

SE Asia Stocks-Post weekly losses, Singapore hits 21-mth closing low

    * Singapore, Thailand post 4th straight week of losses 
    * Vietnam marks a 6 pct drop on the week

    By Rashmi Ashok
    Oct 26 (Reuters) - Most Southeast Asian stock markets
dropped on Friday, tracking broader Asia as fears over cooling
global growth and trade tensions hit investor confidence, while
Philippine shares rebounded after three losing sessions.
    Singapore shares fell 1.4 percent to a 21-month
closing low, as Asian shares ex-Japan dropped to
their lowest since February 2017 and S&P E-mini futures
slumped in Asian trading on Friday.
    The city-state's lender United Overseas Bank Limited
 closed 3.5 percent lower, while casino operator
Genting Singapore Ltd dropped 2.8 percent.
    Singapore shares dropped 3 percent this week, their fourth
straight week of losses. 
    Thai shares fell 0.9 percent in the session,
deepening the week's losses to 2.3 percent and marking their
fourth losing week. 
    The index was dragged down by energy stocks such as oil and
gas producer PTT PCL, which shed 2 percent, and PTT
Exploration and Production PCL, which lost 1.5
    Oil prices fell on Friday and were on track for a third
weekly loss, as Saudi Arabia warned of rising inventories amid a
slump in global markets and trade that dampens the outlook for
fuel demand. 
    Malaysian stocks extended their losses to a seventh
straight session, as mobile communications provider Digi.Com
Berhad fell 1.7 percent and marine port operator MISC
Berhad gave up 2.3 percent. The index dropped 2.8
percent on the week.
    Vietnam closed 1 percent down, wrapping up its fourth
consecutive losing week, with weekly losses ballooning to 6
    Real-estate stocks weighed down the market the most in the
session, with Vinhomes Joint Stock Company losing 5.1
percent and No Va Land Investment Group Corp shedding
1.9 percent. 
    Philippine stocks gained 1.4 percent in the session,
clawing back some of the week's earlier losses, as investors
snapped up beaten down stocks as valuations turned attractive.
However, the index still recorded a weekly loss of 1.2 percent. 
    Conglomerate SM Investments Corp added 4.1 percent
in the session while San Miguel Corp edged up 2.9
    Indonesian shares closed 0.5 percent higher, but
still ended the week with a 0.9 percent drop. 
    PT Bank Central Asia Tbk gained 3.1 percent in the
session and telecom operator PT Telekomunikasi Indonesia Tbk
 gained 2.3 percent.
For Asian Companies click;  

 Change on the day                            
 Market             Current   Previous close  Pct Move
 Singapore          2972.02   3012.84         -1.35
 Bangkok            1628.96   1644.33         -0.93
 Manila             7064.33   6966.84         1.40
 Jakarta            5784.921  5754.965        0.52
 Kuala Lumpur       1683.06   1686.59         -0.21
 Ho Chi Minh        900.82    910.17          -1.03
 Change on year                               
 Market             Current   End prev yr     Pct Move
 Singapore          2972.02   3402.92         -12.66
 Bangkok            1628.96   1753.71         -7.11
 Manila             7064.33   8,558.42        -17.46
 Jakarta            5784.921  6,355.65        -8.98
 Kuala Lumpur       1683.06   1796.81         -6.33
 Ho Chi Minh        900.82    984.24          -8.48

 (Reporting by Rashmi Ashok; Editing by Amrutha Gayathri)
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