September 25, 2019 / 10:10 AM / 2 months ago

SE Asia Stocks-Singapore drops on trade tensions, Trump impeachment probe

    * Singapore stocks end at 3-week lows
    * Thai shares dip slightly after cenbank downgrades growth
outlook
    * Indonesia ticks up to snap four-session losing streak

    By Anushka Trivedi
    Sept 25 (Reuters) - Trade-sensitive Singapore stocks had
their worst session in one month on Wednesday as hopes of a
trade deal faded on tough rhetoric from Washington and Beijing
and as U.S. lawmakers launched an impeachment inquiry into
President Donald Trump. 
    Trump on Tuesday delivered a stinging criticism of China's
trade practices at the United Nations General Assembly,
prompting a response from China's top diplomat who said Beijing
had no intention to "play the Game of Thrones on the world
stage."
    The comments rattled wider Asian equities and kept most
markets in the region subdued.
    Since chances of the inquiry into Trump's actions leading to
his removal from office are quite low, immediate damage to the
markets from his remarks about China would be much more
significant than reports of his impeachment, said Joel Ng, an
equity research analyst at KGI Securities.
    Singapore's benchmark index dropped almost 1% to a
three-week low and was the biggest loser in the region.
    Industrial and financial sectors accounted for most of the
losses on the benchmark, with conglomerate Jardine Matheson
Holdings falling 1% and lender DBS Group Holdings Ltd
 shedding 1.2%. 
    Malaysian stocks extended loses into a third
session. 
    The country's August inflation came in line with
expectations, but analysts warned of price pressures remaining
in check due to slowdown in growth.    
    Thai shares dipped after the country's central bank
lowered its 2019 export and economic growth forecast, while
holding interest rates steady.
    Philippine's benchmark index pared earlier losses to
end flat on last-minute buying in financial stocks such as SM
Prime Holdings and Ayala Corp.
    Elsewhere, Indonesian shares snapped a four-session
losing streak to end 0.1% higher. 
    
For Asian Companies click;  

SOUTHEAST ASIAN STOCK MARKETS
    
 Market                 Current   Previous close  Pct Move
 Singapore              3125.82   3155.46         -0.94
 Bangkok                1628.38   1630.5          -0.13
 Manila                 7896.24   7893.94         0.03
 Jakarta                6146.404  6137.608        0.14
 Kuala Lumpur           1589.58   1592.33         -0.17
 Ho Chi Minh            987.3     988.13          -0.08
                                                  
 Change so far in 2019                            
 Market                 Current   End 2018        Pct Move
 Singapore              3125.82   3068.76         1.86
 Bangkok                1628.38   1563.88         4.12
 Manila                 7896.24   7,466.02        5.76
 Jakarta                6146.404  6,194.50        -0.78
 Kuala Lumpur           1589.58   1690.58         -5.97
 Ho Chi Minh            987.3     892.54          10.62
 

 (Reporting by Anushka Trivedi in Bengaluru; Editing by Aditya
Soni)
  
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