SE Asia Stocks-Most edge higher; fresh Sino-U.S. trade fears weigh
* Asia-Pacific shares ex-Japan lower about 0.3 pct
* Philippines down 0.9 pct, biggest loser in the region
* Vietnam higher after 8 straight sessions of falls
By Shanima A
Oct 30 (Reuters) - Most Southeast Asian stock markets edged
higher on Tuesday, although fears of an escalation in the
Sino-U.S. trade war weighed on investor sentiment.
The United States is preparing to announce tariffs on all
remaining Chinese imports by early December if talks next month
between presidents Donald Trump and Xi Jinping fail to ease the
trade war, Bloomberg reported on Monday, citing unnamed sources.
On Monday, the Dow Jones Industrial Average fell 0.99
percent, the S&P 500 lost 0.66 percent and the Nasdaq
Composite dropped 1.63 percent. MSCI's broadest index of
Asia-Pacific shares outside Japan followed
losses in Wall Street indexes and was last down 0.3 percent.
"Wall Street's overnight gyrations (with S&P500 closing just
shy of a correction territory) do not bode well for Asian
bourses today amid fragile risk sentiments and geopolitical and
trade tensions continue to overshadow financial markets," OCBC
said in a note.
Philippine shares fell 0.9 percent after two straight
sessions of gains, weighed down by industrials. Both Aboitiz
Equity Ventures Inc and SM Investments Corp
declined more than 1.5 percent.
Singapore shares slid as much as 0.7 percent, mostly
dragged by banking stocks.
DBS Group Holdings Ltd fell 1.2 percent, extending
declines into a fourth session and hitting a one-year low, as
investors saw more downside for the stock.
Indonesian shares gained 0.4 percent on the back of
strength in telecom and financial stocks.
Telekomunikasi Indonesia (Persero) Tbk Perusahaan Perseroan
PT, the country's biggest telecom operator, climbed
3.6 percent to a one-week high.
Thailand shares were marginally higher after data
showed manufacturing production index in September contracted
for the first time in 17 months.
Oil stocks gained the most with PTT Pcl rising more
than 1 percent, while construction materials manufacturer Siam
Cement Pcl rose about 2 percent.
Meanwhile, Vietnam stocks rose after shedding about 9
percent in the eight sessions of declines through Monday.
For Asian Companies click;
SOUTHEAST ASIAN STOCK MARKETS AS At 0424 GMT
Market Current Previous close Pct Move
Singapore 2969.76 2981.54 -0.40
Bangkok 1639.23 1636.88 0.14
Manila 7048.52 7109.03 -0.85
Jakarta 5774.963 5754.607 0.35
Kuala Lumpur 1693.16 1683.73 0.56
Ho Chi Minh 892.56 888.82 0.42
Change on year
Market Current End 2017 Pct Move
Singapore 2969.76 3402.92 -12.73
Bangkok 1639.23 1753.71 -6.53
Manila 7048.52 8558.42 -17.64
Jakarta 5774.963 6355.654 -9.14
Kuala Lumpur 1693.16 1796.81 -5.77
Ho Chi Minh 892.56 984.24 -9.31
(Reporting by Shanima A in Bengaluru; Editing by Subhranshu
Sahu)
