U.S. Markets closed

SE Asia Stocks-Singapore falls; renewed trade war friction weighs

* Singapore hits one-week low, sees worst day in over 4

weeks

* Malaysia heads for a fifth straight weekly gain

By Sumeet Gaikwad

Aug 10 (Reuters) - Singapore shares dropped on Friday as

concerns over renewed U.S.-China trade war friction and lower

oil prices dented sentiment, while the absence of bullish news

failed to propel the other Southeast Asian markets.

Singapore markets, which dropped as much as 1.6

percent, marked their worst intraday session in a month.

"There could be some risk reduction in Singapore markets

amid renewed geopolitical uncertainty," said Wei Liang Chang, an

FX strategist, Mizuho Bank.

"Furthermore, oil prices are dipping towards recent lows,

and this could increase headwinds to the offshore marine sector

and Singapore banks' loan portfolio," he added.

Oil prices fell on Friday, hit by concerns that the trade

dispute between the world's largest economies would stall

economic growth and fuel demand.


The city-state's top lender DBS Group Holdings Ltd

lost as much as 2.6 percent; Oversea-Chinese Banking Corp Ltd

slipped as much as 3.25 percent, while conglomerate

Keppel Corp fell up to 2.5 percent.

However, the bourse was on track to finish higher for a

fourth week in five.


Asian shares ex-Japan dipped 0.9 percent,

snapping a five-session winning streak.

Trade tensions deepened following Washington's threat on

Thursday that it would impose fresh sanctions on Russia after it

found that Moscow had used a nerve agent against a former

Russian double agent and his daughter in Britain.

Philippines shares traded steady, with industrials

being the top boost. Shares of SM investments Corp rose

as much as 1.6 percent.

The Philippine central bank on Thursday raised its key

overnight borrowing rate by 50 basis points. The archipelago

nation said its economic growth unexpectedly weakened to a near

three-year low in the second quarter.

The Jakarta index recovered from previous session's

losses to edge 0.5 percent higher. Bank Rakyat Indonesia

jumped as much as 4.2 percent, while Bank Mandiri

(Persero) gained up to 2 percent.

An index of the country's 45 most liquid stocks

was up 0.6 percent.

Malaysian stocks nudged higher; poised for a fifth

straight weekly gain.

Consumer staples dragged Thai stocks lower with

convenience store operator CP All Pcl slipping over 3

percent.

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SOUTHEAST ASIAN STOCK MARKETS: AS AT 0522 GMT

Change on day

Market Current Previous Close Pct Move

Singapore 3285.72 3326.74 -1.23

Bangkok 1713.06 1722.48 -0.55

Manila 7833.39 7820.71 0.16

Jakarta 6093.404 6065.256 0.46

Kuala Lumpur 1808.47 1804.95 0.20

Ho Chi Minh 955.47 963.5 -0.83

Change on year

Market Current End 2017 Pct Move

Singapore 3285.72 3402.92 -3.44

Bangkok 1713.06 1753.71 -2.32

Manila 7833.39 8558.42 -8.47

Jakarta 6093.404 6355.654 -4.13

Kuala Lumpur 1808.47 1796.81 0.65

Ho Chi Minh 955.47 984.24 -2.92

(Reporting by Sumeet Gaikwad in Bengaluru; Additional reporting

by Chandini Monnappa, Editing by Sherry Jacob-Phillips)