Edition:
India

Rashmi Ashok

SE Asia Stocks-Slide as trade uncertainty, HK unrest hurt risk sentiment

13 Nov 2019

* Singapore stocks with Hong Kong exposure drop * Singapore leads falls with 0.9% decline By Rashmi Ashok Nov 13 Southeast Asian stock markets skidded on Wednesday as investors sold off risky assets amid uncertainty surrounding the extent of progress in Sino-U.S. trade talks and intensifying protests in Hong Kong. In a speech at the Economic Club of New York, U.S. President Donald Trump said the signing of an initial trade deal was close, but did not offer further details on dates or the terms of the agreement. "Risk aversion appears to be creeping back into the markets," Han Tan, a market analyst at brokerage FXTM, said in a note. Asian stocks fell despite their U.S. counterparts tantalisingly close to setting record highs, as investors continue to sieve through potential signals from the noise surrounding the trade deal, he wrote. Curbing risk appetite further, anti-government protests continued to cause disruption in Hong Kong. The Hang Seng index fell nearly 2% to a four-week low in late trade. Singapore shares closed 0.9% lower. Hongkong Land Holdings, a property manager with large assets in Hong Kong, fell 3.4% and was among the top percentage losers. Conglomerate Jardine Strategic Holdings, which also has significant interests in the Greater China region and is the majority stakeholder in Hongkong Land, traded 4% lower. Philippine stocks posted deep losses, dragged by heavyweights like Globe Telecom Inc and Ayala Corp , which fell 2.1% and 1.9%, respectively. Indonesian stocks traded 0.6% lower, dragged by consumer stocks like household products maker Unilever Indonesia Tbk and animal feed maker Charoen Pokphand Indonesia Tbk. An index of Indonesia's 45 most liquid stocks declined 1%. Malaysian stocks slid 0.8%, dragged by a 5.4% drop in index heavyweight Petronas Chemicals Group, after the chemicals maker posted a steep fall in third-quarter profit. For Asian Companies click; SOUTHEAST ASIAN STOCK MARKETS Change on the day Market Current Previous close Pct Move Singapore 3239.22 3267.8 -0.87 Bangkok 1615.14 1626.2 -0.68 Manila 7947.47 8012.34 -0.81 Jakarta 6142.501 6180.992 -0.62 Kuala Lumpur 1597.22 1609.73 -0.78 Ho Chi Minh 1012.77 1018.33 -0.55 Change so far in 2019 Market Current End 2018 Pct Move Singapore 3239.22 3068.76 5.55 Bangkok 1615.14 1563.88 3.28 Manila 7947.47 7,466.02 6.45 Jakarta 6142.501 6,194.50 -0.84 Kuala Lumpur 1597.22 1690.58 -5.52 Ho Chi Minh 1012.77 892.54 13.47 (Reporting by Rashmi Ashok in Bengaluru; Editing by Subhranshu Sahu)

Australia shares fall as gold miners tumble; NZ down

06 Nov 2019

* Financials dragged by Medibank and Bank of Queensland (Updates to close)

Australia shares lead lower by banking sector; NZ down

01 Nov 2019

* ANZ's lower franking credit hurting other major banks -analyst

Australia shares edge lower as ANZ, energy stocks drag; NZ slips

31 Oct 2019

* Fed rate cut as expected, not a big catalyst now -Brokerage

Australia shares slip, set to snap 7-day winning streak; NZ inches up

30 Oct 2019

Oct 30 Australian shares slipped on Wednesday after a seven-session run of gains, led lower by miners, ahead of domestic inflation data due later in the day.

Australia, NZ shares tiptoe higher on trade optimism

29 Oct 2019

* Trade deal hopes lift shares, but investors on edge - Analyst

Australia shares advance on trade progress; mining stocks lead

28 Oct 2019

* Resource stocks rack up gains on firm oil and iron ore prices

Australia, NZ shares slip as Brexit uncertainty weighs

21 Oct 2019

Oct 21 Australian shares edged lower on Monday as fresh uncertainty over Brexit reined in risk sentiment, while digital payments stocks slipped further on the central bank's planned review of some practices in the buy-now-pay-later sector.

Australia's Suncorp sells smash repairs arm to focus on insurance, banking

01 Oct 2019

Australian insurer Suncorp Group Ltd said it will sell its vehicle repair business for A$420 million ($283.5 million) as it seeks to focus on its core insurance and banking operations after disappointing results in recent times.

New Zealand's Fonterra goes back to basics after record annual loss

26 Sep 2019

New Zealand's Fonterra , the world's largest dairy exporter, reported a record annual loss on Thursday, and unveiled a new strategy to phase out overseas "milk pools", cut debt and focus on its local production.

World News