June 12, 2018 / 4:37 AM / 11 days ago

SE Asia Stocks-Vietnam falls after 8 sessions of gain, Thailand extends rise

    * Historic U.S.-N.Korea summit starts in Singapore 
    * Malaysian shares down for 3rd consecutive session

    By Nicole Pinto
    June 12 (Reuters) - Vietnam shares fell on Tuesday after
eight consecutive sessions of gains, while Thai shares rose for
a second straight day on the back of energy and consumer staples
stocks.
    Broader Asian markets were choppy as the historic
U.S.-N.Korea summit started in Singapore amid hopes that it
could pave the way to ending a nuclear stand-off on the Korean
peninsula.
    The fixation with the summit is as much about whether the
two sides will strike a deal as it is about what would comprise
a deal, Mizuho Bank analysts said in a note.
    "It appears that the term 'de-nuclearization' must be thrown
into the mix somewhere, but strictly with wiggle room for both
parties... and in return, the United States may offer some
conditional reprieve on sanctions with sunset clauses," Mizuho
Bank said.
    Vietnam shares fell as much as 3.3 percent, snapping
eight sessions on gains, with Vietnam Technological and
Commercial Joint Stock Bank down 4.5 percent and
Vingroup JSC 3.5 percent lower.
    Malaysian shares were down for a third straight
session, declining as much as 0.4 percent. Malayan Banking Bhd
 declined up to 1.3 percent and was headed for a third
straight session of fall. 
    CIMB Group extended its fall into a third session
with a drop of up to 1.8 percent. 
    An analyst said there is no immediate catalyst for the local
market to see an upward trend as investors are still evaluating
the policies of the new government. 
    Investors are taking profit on whatever strengths they can
find, said the analyst, adding that: "If the (U.S.-N.Korea
summit) goes well, it could lead to slight optimism in the local
market." 
    Thai shares rose as much as 0.7 percent as
convenience stores operator CP All PCL gained 2.2
percent, while PTT PCL rose nearly 2 percent and PTT
Exploration and Production PCL added 1.9 percent as
oil prices edged higher.
    Indonesian financial markets are closed until June 19 for
Eid Al-Fitr, while the Philippines was closed on Tuesday for
Independence Day.
            
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SOUTHEAST ASIAN STOCK MARKETS: Change as at 0430 GMT
 Change on the day                            
                    Current   Previous Close  Pct Move
 Singapore          3437.92   3441.69         -0.11
 Bangkok            1733.04   1723.11         0.58
 Kuala Lumpur       1768.88   1775.8          -0.39
 Ho Chi Minh        1009.63   1039.02         -2.83
                                              
 Change on year                               
 Market             Current   End 2017        Pct Move
 Singapore          3437.92   3402.92         1.03
 Bangkok            1733.04   1753.71         -1.18
 Kuala Lumpur       1768.88   1796.81         -1.55
 Ho Chi Minh        1009.63   984.24          2.58
 

 (Reporting by Nicole Pinto; Editing by Subhranshu Sahu)
  
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