SE Asia Stocks-Most fall ahead of U.S. tariff deadline; Indonesia at over 1-yr low
* Singapore slips to over 9-month low
* Philippines rises for fifth session in six
By Sumeet Gaikwad
July 3 (Reuters) - Most Southeast Asian stock markets fell
on Tuesday as a rout in Chinese shares ahead
of a U.S. deadline for further tariffs on exports from the
world's second-largest economy soured risk sentiment across the
region.
Asia-Pacific MSCI index ex-Japan dropped
over 1 percent in early trade.
Indonesian shares fell nearly 2 percent to a more
than one-year low, extending losses for a second day, on
broad-based selling. Telekomunikasi Indonesia fell 1.3
percent and Perusahaan Gas Negara's slid nearly 9.5
percent, and were the biggest drags on the benchmark.
An index of the country's 45 most liquid stocks
was down 1.5 percent.
On July 6, the United States is expected to impose tariffs
on $34 billion worth of goods from China, the epicentre of a
heated trade dispute between Washington and major economies that
has convulsed financial markets.
"I think we are going to see markets consolidate because
that's (U.S. tariffs) the great unknown," said Stephen Innes,
head of trading for Asia pacific at Oanda.
A lot of position-driven trading (depending on the impact of
tariffs) can be expected, he added.
Singapore stocks fell 0.5 percent, dragged down by
financials. The city-state's top lenders, DBS Group Holdings
and Oversea-Chinese Banking Corp, slipped
0.9 percent and 1.1 percent, respectively.
Malaysian stocks were down 0.4 percent, weighed by
utilities and telecom stocks. Tenaga Nasional, down
1.8 percent, was the biggest drag while Sime Darby
slipped about 5 percent.
Philippine shares were up 0.4 percent led by
industrials and financials ahead of inflation data due this
week. The index is on track for a third straight session of
gains.
SM Investments Corp added 1.6 percent while BDO
Unibank gained 1.4 percent.
Meanwhile, real estate stocks and consumer staples dragged
the Vietnam index lower.
For Asian Companies click;
SOUTHEAST ASIAN STOCK MARKETS: CHANGE AS AT 0425 GMT
Change on the day
Market Current Previous close Pct Move
Singapore 3222.57 3238.94 -0.51
Bangkok 1612.66 1607.27 0.34
Manila 7257.42 7227.96 0.41
Jakarta 5667.767 5746.77 -1.37
Kuala Lumpur 1677.91 1685.05 -0.42
Ho Chi Minh 930.17 947.15 -1.79
Change on year
Market Current End 2017 Pct Move
Singapore 3222.57 3402.92 -5.30
Bangkok 1612.66 1753.71 -8.04
Manila 7257.42 8558.42 -15.20
Jakarta 5667.767 6355.654 -10.82
Kuala Lumpur 1677.91 1796.81 -6.62
Ho Chi Minh 930.17 984.24 -5.49
(Reporting by Sumeet Gaikwad in Bengaluru; Editing by Vyas
Mohan)
