May 3, 2018 / 10:27 AM / a year ago

SE Asia Stocks-Fall as U.S.-China trade tensions weigh

    * Indonesia, Malaysia snap three sessions of gains
    * Singapore retreats from multi-year high
    * Indonesia hits 7-month closing low

    By Sumeet Gaikwad
    May 3 (Reuters) - Southeast Asian stock markets slipped on
Thursday as U.S.-China trade tension hurt investor risk
appetite, with Indonesia sinking to an over seven-month closing
low as foreign investors continued to trim their equity
    A U.S. trade delegation arrived in China for talks on
tariffs. State media said China will stand up to U.S. bullying
if need be, but it was better to work things out at the
negotiating table.
    The discussions are expected to cover a wide range of U.S.
complaints about China's trade practices, from accusations of
forced technology transfers to state subsidies for technology
    "International pressure to avoid a trade war, and Beijing's
restraint are perhaps a consolation; and in fact worst-case
(broad-brush tariff) scenarios may be avoided," Mizuho Bank said
in a note.
    Indonesian shares snapped a three-session gaining
streak and ended 2.6 percent lower dragged down by financials
and consumer staples.    
    Bank Central Asia was the biggest drag, falling
2.6 percent, while Telekomunikasi Indonesia dropped
3.4 percent.
    Foreign investors net sold $55.3 million worth of Indonesian
stocks on Thursday, according to stock exchange data. In April,
they sold securities worth $684 million in equities and $967
million in bonds.
    An index of the country's 45 most liquid stocks
declined 3.1 percent.
    Philippine stocks hit a two-week closing low as
financials and industrials weighed on the index. SM Investments
Corp fell 5 percent while Aboitiz Equity Ventures
 dropped 7 percent. 
    Singapore shares retreated from a multi-year high to
fall more than 1 percent. 
    Financials weighed on the index, with lender DBS Group
Holdings falling 4.3 percent, while Oversea-Chinese Banking Corp
 shed 1.5 percent.
    Malaysian stocks ended largely flat as gains in
materials and consumer stocks were offset by losses in
    Index heavyweights Petronas Gas fell 2.3 percent
while Tenaga Nasional  rose 1 percent. 
    The Thailand index closed marginally lower.
For Asian Companies click;  

 Change on day                             
 Market          Current   Previous Close  Pct Move
 Singapore       3575.68   3615.28         -1.10
 Bangkok         1790.8    1791.13         -0.02
 Manila          7535.1    7736.07         -2.60
 Jakarta         5858.732  6012.238        -2.55
 Kuala Lumpur    1851.8    1852.03         -0.01
 Ho Chi Minh     1026.46   1029.08         -0.25
 Change on year                            
 Market          Current   End 2017        Pct Move
 Singapore       3575.68   3402.92         5.08
 Bangkok         1790.8    1753.71         2.11
 Manila          7535.1    8558.42         -11.96
 Jakarta         5858.732  6355.654        -7.82
 Kuala Lumpur    1851.8    1796.81         3.06
 Ho Chi Minh     1008.35   984.24          2.45
 (Reporting by Sumeet Gaikwad and Gaurav Dogra in Bengaluru;
Editing by Vyas Mohan)
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