November 5, 2018 / 10:24 AM / 10 months ago

SE Asia Stocks-Singapore snaps 3 sessions of gains; Philippines rises

    * Singapore falls 1.8 pct, Philippines rises 1 pct
    * Indonesia recovers from early falls to close higher

    By Nikhil Subba
    Nov 5 (Reuters) - Singapore shares slumped on Monday after
three straight sessions of sharp gains, while Philippine stocks
rose for a second session in a row. 
    Singapore's Straits Times index closed 1.8 percent
lower, making it the biggest loser in Southeast Asia.
    Financials and industrials were the top losers. DBS Group
Holdings was the biggest drag on the benchmark with a
drop of 2.8 percent after the lender posted quarterly profit
slightly below estimates, flagging trade war worries and
property cooling measures likely to hold back its loan book
growth next year.
    Meanwhile, Asian stocks skidded on fears of faster rate
hikes in the United States and uncertainty around the Sino-U.S.
trade war.
    The U.S. Labor Department released robust economic data for
October on Friday, raising the possibility of another interest
rate hike in December, which could hinder global economic
    Investors were also worried about the trade spat between the
world's top two economies after White House's top economic
adviser said on Friday that Washington and China were not close
to a deal to resolve their trade differences.
    Among other Southeast Asian markets, Philippine shares
 closed 1 percent higher, helped by gains primarily in the
financial sector.
    SM Investments Corp rose over 1 percent to its
highest close since Sept. 17, while LT Group Inc gained
2.48 percent.     
    Indonesian shares closed marginally higher, after
trading lower through most parts of the day on data showing slow
GDP growth in the third quarter.
    Gross domestic product (GDP) expanded 5.17 percent in the
July-September quarter from a year earlier, compared with a 5.15
percent expansion expected in a Reuters poll and the second
quarter's 5.27 percent.
    This points to tougher conditions for the Southeast Asian
economy which has struggled with capital outflows and weaker
exports and household spending.
    Bank Central Asia was the biggest boost, rising
about 1 percent.
    Malaysian shares ended lower after the government
chalked out a wider fiscal deficit target for the year, the
highest in five years.
    Thai shares fell, dragged by oil stocks as crude
prices fell further.
    Star Petroleum Refining was one of the biggest
losers among energy stocks, declining 4.9 percent to its lowest
in 1-1/2 weeks.
For Asian Companies click;  

 Change on day                             
 Market          Current   Previous Close  Pct Move
 Singapore       3060.62   3116.39         -1.79
 Bangkok         1670.58   1681.84         -0.67
 Manila          7213.44   7140.29         1.02
 Jakarta         5920.594  5906.292        0.24
 Kuala Lumpur    1708.8    1713.87         -0.30
 Ho Chi Minh     925.53    924.86          0.07
 Change on year                            
 Market          Current   End 2017        Pct Move
 Singapore       3060.62   3402.92         -10.06
 Bangkok         1670.58   1753.71         -4.74
 Manila          7213.44   8558.42         -15.72
 Jakarta         5920.594  6355.654        -6.85
 Kuala Lumpur    1708.8    1796.81         -4.90
 Ho Chi Minh     925.53    984.24          -5.97
 (Reporting by Nikhil Subba; Editing by Subhranshu Sahu)
0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below