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SE Asia Stocks-Most fall as N.Korea tensions rise; Malaysia hits near 4-wk low
September 26, 2017 / 4:12 AM / 2 months ago

SE Asia Stocks-Most fall as N.Korea tensions rise; Malaysia hits near 4-wk low

    By Chris Thomas
    Sept 26 (Reuters) - Most Southeast Asian stock markets fell
in line with broader Asia on Tuesday as investors sought shelter
in safe-haven assets with tensions flaring up again on the
Korean peninsula.
    North Korea's foreign minister said on Monday the nation
counted U.S. President Donald Trump's tweet over the weekend as
a declaration of war on the country, and that it could retaliate
with measures including shooting down U.S. bombers - even if
they were not in its air space.
    Trump, in a tweet on Saturday, warned that the minister and
North Korean leader Kim Jong Un "won't be around much longer" if
they acted on their threats.
    MSCI's broadest index of Asia-Pacific shares outside Japan
 fell as much as 0.5 percent to a near three-week
low and was last down 0.3 percent, following losses on Wall
Street. 
    "Most funds are moving towards safer assets from risky
assets, so there's been some selling pressure on Asian
equities," said Manny Cruz, an analyst with Manila-based Asiasec
Equities.
    "The tensions will continue to harm the regional markets for
the time being, and in the absence of any mediation, we will
continue to see weakness in regional markets."
    In Southeast Asia, Philippine shares dropped as much
as 1.4 percent to their lowest in over a week, and were headed
for a third straight session of decline.
    Renewable power producer Energy Development Corp
extended its fall into a fourth session, declining as much as
15.5 percent.
    Malaysian shares shed as much as 0.5 percent to
their lowest since Aug. 30 and were headed for a sixth straight
session of falls, dragged down by telecom and financial stocks. 
 
    Singapore shares declined as much as 0.3 percent in
thin trade ahead of industrial output data expected at 0500 GMT.
    The city-state's industrial production in August likely rose
14.2 percent from a year earlier, due to robust global demand
for electronics, a Reuters poll showed.
    Thai shares rose as much as 0.4 percent, propped up
by energy stocks on sharp gains in overnight oil prices.
    PTT Exploration and Production PCL climbed as
much as 1.7 percent, while PTT Pcl gained up to 1.5
percent.

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SOUTHEAST ASIAN STOCK MARKETS: Change at 0324 GMT
    
  Change on day                                        
  Market          Current      Previous Close  Pct Move
  Singapore       3209.97      3215.91         -0.18
  Bangkok         1669.62      1667.59         0.12
  Manila          8132.13      8244.73         -1.37
  Jakarta         5886.895     5894.612        -0.13
  Kuala Lumpur    1761.76      1769.14         -0.42
  Ho Chi Minh     801.99       805.58          -0.45
                                               
  Change on year                               
  Market          Current      End 2016        Pct Move
  Singapore       3209.97      2880.76         11.43
  Bangkok         1669.62      1542.94         8.21
  Manila          8132.13      6840.64         18.88
  Jakarta         5886.895     5296.711        11.14
  Kuala Lumpur    1761.76      1641.73         7.31
  Ho Chi Minh     801.99       664.87          20.62
 
 (Reporting by Chris Thomas in Bengaluru; Additonal reporting by
Aaron Saldanha; Editing by Subhranshu Sahu)
  

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