June 18, 2018 / 10:23 AM / 5 months ago

SE Asia Stocks-Most extend losses; Philippines hits over 1-yr closing low

    * U.S.-China trade tensions weigh
    * Singapore at 8-month closing low

    By Nicole Pinto
    June 18 (Reuters) - Southeast Asian stock markets fell on
Monday, with Vietnam shedding nearly 3 percent and the
Philippine index marking its lowest close in more than a year,
as escalating U.S.-China trade tensions dampened sentiment.
    U.S. President Donald Trump on Friday announced tariffs on
$50 billion of Chinese imports, with a list of more than 800
strategically important imports from China that would be subject
to a 25 percent tariff starting on July 6, prompting Beijing to
immediately respond in kind.
    Meanwhile, investors in Thailand and Philippines awaited
policy meetings of the Bank of Thailand and Bangko Sentral ng
Pilipinas due later in the week.
    Vietnam shares closed 2.9 percent lower, after ending
flat on Friday, as Petrovietnam Gas Joint Stock Corp
slumped 6.2 percent and Vietnam Dairy Products JSC shed
4.1 percent. 
    Philippine shares ended 1.5 percent lower, their
lowest close since April 2017. Financials and industrials
weighed on the index with JG Summit Holdings Inc
extending its decline for a third straight session and Bank of
the Philippine Islands ending lower for a fifth
straight session.     
    Thai shares extended losses to a fourth consecutive
session, closing at their lowest level in nine months as energy
stocks weighed on the index. 
    Oil prices fell on expectations that the Organization of the
Petroleum Exporting Countries and its allies would increase
supplies, and as China threatened duties on American crude
imports.
    Singapore shares marked their lowest close in eight
months, dragged by financials. Heavyweight DBS Group Holdings
Ltd and United Overseas Bank Ltd declined
1.3 percent and 1.9 percent, respectively. 
    The city-state's exports grew at the fastest pace in seven
months in May, boosted by an extended surge in pharmaceutical
shipments.
    Indonesian financial markets are closed through Tuesday,
June 19, for Eid Al-Fitr.
    
For Asian Companies click;  

SOUTHEAST ASIAN STOCK MARKETS
 Change on the day                            
                    Current   Previous Close  Pct Move
 Singapore          3324.04   3356.73         -0.97
 Bangkok            1679.68   1704.82         -1.47
 Manila             7414.11   7529.54         -1.53
 Kuala Lumpur       1743.43   1761.78         -1.04
 Ho Chi Minh        987.34    1016.51         -2.87
                                              
 Change on year                               
 Market             Current   End 2017        Pct Move
 Singapore          3324.04   3402.92         -2.32
 Bangkok            1679.68   1753.71         -4.22
 Manila             7414.11   8558.42         -13.37
 Kuala Lumpur       1743.43   1796.81         -2.97
 Ho Chi Minh        987.34    984.24          0.31
 


 (Reporting by Nicole Pinto; Editing by Vyas Mohan)
  
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