July 16, 2018 / 10:28 AM / 10 months ago

SE Asia Stocks-Most fall on disappointing China data; Thailand down 1 pct

    * Indonesia down for its first weekly session in 6
    * Malaysia gains for 6th session; ends at highest in a month

    By Karthika Suresh Namboothiri
    July 16 (Reuters) - Most Southeast Asian stock markets
closed lower on Monday, with Thailand falling 1 percent, as
risk-off sentiment prevailed in broader Asia, and data showing
China's economy and factory production growth slowing failed to
whet investor appetite.
    China's economy cooled in the second quarter, while
industrial output projected slower-than-expected growth,
pointing to slowing momentum and prompting some analysts to call
for stronger government measures to support growth.
    Investors are optimistic ahead of what is expected to be a
strong second-quarter earnings season on Wall Street, and
therefore, likely to redirect funds out of Asia to the United
States, said Joel NG, an analyst at KGI Securities.
    "U.S. stocks have been very vigilant, the Nasdaq has been
hitting new highs lately, partly due to global repositioning of
funds where they are headed towards developed countries and
those with strong earnings growth."
    Thai shares slid 1 percent, with Krungthai Card
 plunging 30 pct and Airports of Thailand down
over 2.7 percent.
    The Singapore index ended 0.9 percent lower, dragged
sharply by financials. 
    DBS Group Holdings declined 1.5 percent, while
Oversea-Chinese Banking Corp closed at its lowest
since September.
    Indonesian stocks declined 0.7 percent. Telekom 
Indonesia was down 2 percent, while Unilever Indonesia
 slipped 2.5 percent.
    The index fell for its first weekly session in six.
    Meanwhile, the country's trade balance returned to a
larger-than-expected surplus in June, data showed.
    Malaysian stocks erased early losses to mark their
highest close in a month. Gains in telecommunication stocks
offset losses in financials and energy sectors.
    The country's annual inflation rate likely eased in June
from the previous month, thanks to the withdrawal of a goods and
services tax, a Reuters poll showed.
    Philippine shares closed 0.4 percent lower, snapping
four sessions of gains. 
    Index heavyweights SM Investments Corp was down 1.6
percent and Ayala Land fell 1.5 percent.
    For Asian Companies click;  

 Change on the day                            
 Market             Current   Previous close  Pct Move
 Singapore          3232.79   3260.35         -0.85
 Bangkok            1627.69   1643.52         -0.96
 Manila             7369.44   7399.18         -0.40
 Jakarta            5905.158  5944.074        -0.65
 Kuala Lumpur       1726.67   1721.93         0.28
 Ho Chi Minh        911.11    909.72          0.15
 Change on year                               
 Market             Current   End 2017        Pct Move
 Singapore          3232.79   3402.92         -5.00
 Bangkok            1627.69   1753.71         -7.19
 Manila             7369.44   8558.42         -13.89
 Jakarta            5905.158  6355.654        -7.09
 Kuala Lumpur       1726.67   1796.81         -3.90
 Ho Chi Minh        911.11    984.24          -7.43
 (Reporting by Karthika Suresh Namboothiri; Additional reporting
by Syed Saif Hussain Naqvi; Editing by Sunil Nair)
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