April 16, 2018 / 5:01 AM / 5 months ago

SE Asia Stocks-Most down as U.S.-Syria tensions linger

    * Singapore sees worst session in 1 week
    * Broader Asian shares down 
    * Malaysia on track for 7th session of gains in 8

    By Nikhil Nainan
    April 16 (Reuters) - Most Southeast Asian shares fell on
Monday tracking broader Asia, but losses were capped as an
escalation of U.S.-led strikes over the weekend in Syria seemed
unlikely.
    MSCI's broadest index of Asia-Pacific shares outside Japan
 fell 0.6 percent after financials dragged Wall
Street lower on Friday as results from big banks failed to
enthuse investors.
    On Saturday, the United States, France and Britain launched
missiles targeting what the Pentagon said were three chemical
weapons facilities in Syria in retaliation for a suspected
poison gas attack in Douma earlier in April.
    “With trade war and now Syria fatigue likely to set in ...
it's best not to get too comfortable at this point as market
risk sentiment swings will remain large this week,” Stephen
Innes, head of trading APAC at Oanda, said in a note. 
    Investors are showing little appetite to chase riskier
assets, he added.
    Brent crude futures fell 1 percent to $71.83 a
barrel while U.S S&P 500 EMini futures edged 0.4 percent
higher.
    Singapore shares fell 0.3 percent as industrials and
real estate stocks weighed on the index. Jardine Strategic
Holdings Ltd, down 1.7 percent, was the biggest drag,
while Venture Corporation fell 2 percent.
    Capitaland Ltd and City Developments Ltd
fell 1.1 percent and 1.3 percent, respectively, leading the
losses among real estate stocks. 
    Philippine shares fell 0.4 percent led by losses in
bluechips such as Ayala Corp and SM Investment Corp
. 
    Meanwhile, Malaysian shares inched up 0.2 percent,
helped by gains in telecom stocks, and were on track for a
seventh session of gains in eight. 
    DiGi.Com Bhd and Telekom Malaysia Bhd
rose 2.2 percent and 3 percent, respectively.
    Vietnamese shares fell 0.6 percent, with financials
and real estate stocks pulling the index down to its lowest in
over three weeks.
    Indonesian shares reacted positively after
government data showed Southeast Asia's largest economy in March
posted its biggest trade surplus in six months.
    An index of the country's 45 most liquid stocks
rose 0.7 percent.
    Thailand's stock market was closed on Monday for a
holiday.
    
SOUTHEAST ASIAN STOCK MARKETS    
 Change at 0445 GMT                                 
 Market                   Current   Previous close  Pct Move
 Singapore                3489.55   3501.3          -0.34
 Manila                   7871.77   7899.98         -0.36
 Jakarta                  6298.922  6270.327        0.46
 Kuala Lumpur             1872      1868.47         0.19
 Ho Chi Minh              1149.75   1157.14         -0.64
                                                    
 Change on year                                     
 Market                   Current   End 2017        Pct Move
 Singapore                3489.55   3402.92         2.55
 Bangkok                  1767.17   1753.71         0.77
 Manila                   7871.77   8558.42         -8.02
 Jakarta                  6298.922  6355.654        -0.89
 Kuala Lumpur             1872      1796.81         4.18
 Ho Chi Minh              1149.75   984.24          16.82
 
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 (Reporting by Nikhil Kurian Nainan; Editing by Vyas Mohan)
  
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