* Thai shares drop 2.2 pct to lowest in over 3 months
* Singapore sheds 2.1 pct to its lowest in nearly 6 months
* Asian shares ex-Japan slide 1.3 pct to lowest in 1 month
By Nicole Pinto
April 4 (Reuters) - Most Southeast Asian stock markets
slumped on Wednesday as China swiftly retaliated against the
Trump administration's plans to impose tariffs on Chinese goods
with duties on key U.S. imports, heightening worries of a trade
war between the two countries.
The speed with which the trade struggle between Washington
and Beijing is ratcheting up – the Chinese government took less
than 11 hours to respond with its own measures – led to a sharp
selloff in global stock markets and commodities.
Beijing's list of 25 percent additional tariffs on U.S.
goods covers 106 items with a trade value matching the $50
billion targeted on Washington's list, China's commerce and
finance ministries said. The effective date depends on when the
U.S. action takes effect.
MSCI's broadest index of Asia-Pacific shares outside Japan
fell as much as 1.3 percent to its lowest in
over one month.
Shares in Thailand slumped 2.3 percent to their
lowest close in over three months.
Thai shares fell largely due to external factors as
investors worry about a trade war, said Teerada Charnyingyong,
an analyst at Phillip Capital Thailand.
"From a technical point of view, it couldn't stand above
1,760 which is quite an important psychological level for the
Thai stock market," Charnyingyong added.
Kasikornbank Pcl shed 7.8 percent while Siam
Commercial Bank PCL fell 2.4 percent.
Singapore, one of the more expensive markets in Asia
and highly exposed to global trade, ended 2.1 percent lower at
its lowest since October 2017.
DBS Group Holdings Ltd fell 2.6 percent, hitting a
near 2-month low, while Oversea-Chinese Banking Corp Ltd
dropped 3.2 percent, hitting an over 1-month low.
Malaysian shares ended the session 1.9 percent down
at a near two-month closing low.
CIMB Group Holdings Bhd and Malayan Banking Bhd
fell 4.2 percent and 1.7 percent lower, respectively.
Indonesian shares ended the session 1.2 percent
lower. The index of the country's 45 most liquid stocks
fell 1.3 percent.
Bank Negara Indonesia (Persero) TBK PT shed 4.1
percent and Bank Mandiri (Persero) TBK PT fell 2.6
Vietnam shares were the only gainers in the region,
rising 0.3 percent, helped by Vingroup JSC, which
jumped 4.3 percent to a record closing high, while Vietnam Dairy
Products JSC gained 3.3 percent.
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SOUTHEAST ASIAN STOCK MARKETS: Change on the day
Market Current Previous close Pct Move
Singapore 3339.7 3412.15 -2.12
Bangkok 1724.98 1765.24 -2.28
Manila 7997.67 8048.72 -0.63
Jakarta 6157.096 6229.013 -1.15
Kuala Lumpur 1815.94 1850.78 -1.88
Ho Chi Minh 1191.54 1188.29 0.27
Change on year
Market Current End 2017 Pct Move
Singapore 3339.7 3402.92 -1.86
Bangkok 1724.98 1753.71 -1.64
Manila 7997.67 8558.42 -6.55
Jakarta 6157.096 6355.654 -3.12
Kuala Lumpur 1815.94 1796.81 1.06
Ho Chi Minh 1191.54 984.24 21.06
(Reporting by Nicole Pinto; Editing by Amrutha Gayathri)