November 6, 2018 / 10:26 AM / 12 days ago

SE Asia Stocks-Fall marginally amid caution over U.S. midterm elections

    * Singapore, Malaysia closed for holiday
    * Indonesia comes off one-month peak

    By Nikhil Subba
    Nov 6 (Reuters) - Most Southeast Asian stock markets inched
lower on Tuesday amid caution over the U.S. midterm elections
which would be the first major electoral test of President
Donald Trump's big tax cuts and hostile trade policies.
    Investors generally expect opposition Democrats to take over
the House of Representatives while Trump's Republican Party is
tipped to retain the Senate.    
    While political gridlock between the White House and
Congress could hinder Trump's pro-business agenda and raise
concerns about political instability, some analysts say such an
outcome may have already been priced in by investors.
    If Trump gains a lot of support from people, he's going to
be very aggressive with his trade rhetoric, said Taye Shim, head
of research at Mirae Asset Sekuritas.
    In Southeast Asia, Philippine shares closed the
session half a percent lower after rising as much as 0.9 percent
earlier in the day.
    Financials were the biggest drags, with Ayala Land Inc
 dropping 5 percent to its lowest in 1-1/2 weeks.
    Thai shares ended slightly lower while Vietnam
stocks fell 0.4 percent, dragged by losses in the
technology counter.
    Thailand's Advanced Info Service fell nearly 2
percent to a 10-month low.
    Do Thanh Technology Corp was one of the biggest
percentage losers in Vietnam, shedding almost 7 percent to a
two-week low.    
    Indonesian shares closed almost flat, coming off a
one-month top hit earlier in the session. 
    Singapore and Malaysian stock markets were
closed for a holiday. 
    
For Asian Companies click;  

SOUTHEAST ASIAN STOCK MARKETS
  Change on day                                             
  Market          Current      Previous    Pct Move
                               Close       
  Bangkok         1669.33      1670.58     -0.07
  Manila          7180.11      7213.44     -0.46
  Jakarta         5923.93      5920.594    0.06
  Ho Chi Minh     922.05       925.53      -0.38
                                           
  Change on year                           
  Market          Current      End 2017    Pct Move
  Bangkok         1669.33      1753.71     -4.81
  Manila          7180.11      8558.42     -16.10
  Jakarta         5923.93      6355.654    -6.79
  Ho Chi Minh     922.05       984.24      -6.32
 
 (Reporting by Nikhil Subba; Editing by Subhranshu Sahu)
  
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