June 14, 2018 / 10:19 AM / 2 months ago

SE Asia Stocks- End lower; US-China trade tensions resurface

    * Thai shares mark six-month closing low
    * Singapore ends down for 3rd straight session
    * U.S.-China trade tensions weigh

    By Nicole Pinto
    June 14 (Reuters) - Southeast Asian stocks ended lower on
Thursday ahead of a long weekend for most markets in the region,
with the Thai index marking a six-month closing low while
resurfacing U.S.-China trade tensions played on investors'
minds.
    U.S. President Donald Trump will meet his top trade advisers
on Thursday to decide on activating tariffs on Chinese goods, a
senior Trump administration official said, as China again urged
talks to settle the dispute.
    Trump is due to unveil revisions to his initial tariff list
targeting $50 billion of Chinese goods on Friday. 
    The U.S. Federal Reserve's decision on Wednesday to raise 
its benchmark overnight lending rate and indications of further
hikes by the end of this year also weighed on markets, while
China left short-term interest rates unchanged.

    Investors also awaited an announcement by the European
Central Bank on whether or not it will end its asset purchases
by year-end.
    Thai shares marked their lowest close since
mid-December with material stocks like PTT Global Chemical PCL
 and Siam Cement PCL down over 2 percent
each.    
    The Vietnam index fell 1.44 percent, dragged down by
Joint Stock Commercial Bank for Foreign Trade of Viet Nam
 and Joint Stock Commercial Bank for Investment and
Development of Vietnam. The index is down 2.2 percent
so far this week. 
    Singapore shares ended lower for a third consecutive
session, and shed 2.3 percent for the week. 
    Financials accounted for most of the losses with both DBS
Group and Oversea-Chinese Banking Corp
ending over 1 percent lower. 
    Markets in Indonesia, Malaysia, Singapore and the
Philippines are closed on Friday for holidays.
    For Asian Companies click;  

SOUTHEAST ASIAN STOCK MARKETS
 Change on the day                            
                    Current   Previous Close  Pct Move
 Singapore          3356.73   3392.51         -1.05
 Bangkok            1709.86   1718.34         -0.49
 Manila             7529.54   7602.98         -0.97
 Kuala Lumpur       1761.78   1763.57         -0.10
 Ho Chi Minh        1015.72   1030.53         -1.44
                                              
 Change on year                               
 Market             Current   End 2017        Pct Move
 Singapore          3356.73   3402.92         -1.36
 Bangkok            1709.86   1753.71         -2.50
 Manila             7529.54   8558.42         -12.02
 Kuala Lumpur       1761.78   1796.81         -1.95
 Ho Chi Minh        1015.72   984.24          3.20
 

 (Reporting by Nicole Pinto; Editing by Sunil Nair)
  
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