July 23, 2018 / 5:14 AM / 10 months ago

SE Asia Stocks-Indonesia, Vietnam rise; others subdued

    * Singapore down after four straight sessions of gains
    * Vietnam jumps 1.4 pct, Indonesia gains 0.9 pct

    By Syed Saif Hussain Naqvi
    July 23 (Reuters) - Indonesian and Vietnam shares rose on
Monday on the back of  financials, while other Southeast Asian
markets were flat to slightly lower as investors' risk appetite
soured on fears of more trade protectionist measures from the
United States.
    U.S. President Donald Trump said on Friday he was ready to
impose tariffs on all $500 billion of imported goods from China,
threatening to escalate a clash over trade policy that has
unnerved financial markets.
    The dollar declined against major currencies after Trump
criticised the Federal Reserve's monetary tightening policy.

    "Market players will likely closely monitor China's policy
reaction, especially on the RMB front in the interim. Asian
markets are likely to also trade with a cautious tone today,"
OCBC said in a note.
    Singapore shares were down after four straight
sessions of gains ahead of June inflation data.
    The annual headline inflation rate is expected to have risen
in June from the previous month, according to a Reuters poll.

    Financials were among the biggest drag with index
heavyweights DBS Group Holdings, Oversea-Chinese
Banking Corp and United Overseas Bank
shedding between 0.9 percent and 1 percent.
    Indonesian shares rose 0.9 percent with all sectors
but materials in positive territory.
    Financials led the charge, with Bank Central Asia Tbk PT
 rising 1.7 percent to its highest in more than three
months, while Bank Mandiri (Persero) Tbk PT gained
nearly 2 percent.
    The impact of U.S.-China trade tensions on Indonesia is "not
a lot" as exports to these countries are not the biggest parts
of Indonesia's economy, said Nomura Indonesia analyst Elvira
    "Indonesia is instead affected through the impact global
events have on the local currency, which pours into general
sentiment in the economy," she said.
    Last week, the central bank kept its benchmark interest rate
unchanged as expected, taking a pause in its monetary tightening
    Vietnam shares jumped 1.4 percent, driven by gains in
real estate and financial stocks. Vingroup JSC and
Petrovietnam Gas Joint Stock Corp were the top gainers.
For Asian Companies click;  

  STOCK MARKETS                                    
  Change on the                                    
  Market          Current      Previous    Pct Move
  Singapore       3283.72      3297.83     -0.43
  Bangkok         1669.73      1671.06     -0.08
  Manila          7390.47      7399.61     -0.12
  Jakarta         5913.249     5872.784    0.69
  Kuala Lumpur    1754.09      1754.67     -0.03
 Ho Chi Minh      945.33       933.39      1.28
  Change on year                           
  Market          Current      End 2017    Pct Move
  Singapore       3283.72      3402.92     -3.50
  Bangkok         1669.73      1753.71     -4.79
  Manila          7390.47      8558.42     -14.31
  Jakarta         5913.249     6355.654    -6.96
  Kuala Lumpur    1754.09      1796.81     -2.38
  Ho Chi Minh     945.33       984.24      -4.97
 (Additional reporting by Karthika Namboothiri; Editing by
Subhranshu Sahu)
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