May 23, 2019 / 10:17 AM / 6 months ago

SE Asia Stocks-Most fall on tech war fears; Indonesia jumps

    * Singapore April core inflation hits 1-yr low
    * Malaysia April CPI data due on Friday
    * Indonesia up 1.6%, post-election unrest calms down

    By Niyati Shetty
    May 23 (Reuters) - Most Southeast Asian stock markets closed
lower on Thursday as an intensifying battle over technology
added to the simmering trade tensions between the United States
and China.
    Investors worry that the protracted tariff war between the
world's top two economies, which has dented global economic
growth, could see further escalation with no signs of a
resolution in the near term. 
    Reuters reported late on Wednesday that the U.S.
administration was considering Huawei-like sanctions on Chinese
video surveillance firm Hikvision over the country's
treatment of its Uighur Muslim minority.
    Thai shares were the top losers in Southeast Asia
with a drop of 1.1%, weighed down by energy and material stocks.
    Oil & gas firm PTT PCL lost 1.6%, while PTT Global
Chemical PCL fell 4%.
    Singapore shares declined 0.7% even as April core
inflation eased to its lowest level in a year due to falling
electricity costs and lower food inflation.
    Data released earlier in the day showed core inflation rose
1.3% in April from a year earlier, in line with a Reuters poll
estimate, and easing from the prior month's 1.4% rise.  
    Lender DBS Group Holdings Ltd and conglomerate
Jardine Matheson Holdings Ltd weighed on the Singapore
stock index, slipping 0.9% and 1.6%, respectively.
    Malaysian shares were marginally down ahead of
inflation data due on Friday. 
    Consumer prices likely increased 0.4% in April from a year
earlier, at a slightly faster pace than the previous month's
0.2% year-on-year rise, according to a Reuters poll.

    Meanwhile, Indonesian shares gained 1.6% with calm
returning to the streets of Jakarta after post-election
protests.
    Unrest ensued in the world's third-largest democracy after
the election commission confirmed earlier this week that
incumbent President Joko Widodo's had beaten ex-general Prabowo
Subianto in the April 17 poll. 
    The market was relieved that the post-election situation
calmed down and was confident that stability would return, said 
Anugerah Zamzami Nasr, an equity research analyst with PT
Phillip Sekuritas Indonesia. 
            
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SOUTHEAST ASIAN STOCK MARKETS
    
 Market                 Current   Previous close  Pct Move
 Singapore              3160.72   3183.14         -0.70
 Bangkok                1609.79   1626.91         -1.05
 Manila                 7804.03   7815.07         -0.14
 Jakarta                6032.696  5939.636        1.57
 Kuala Lumpur           1601.87   1603.74         -0.12
 Ho Chi Minh            982.71    983.78          -0.11
                                                  
 Change so far in 2019                            
 Market                 Current   End 2018        Pct Move
 Singapore              3160.72   3068.76         3.00
 Bangkok                1609.79   1563.88         2.94
 Manila                 7804.03   7,466.02        4.53
 Jakarta                6032.696  6,194.50        -2.61
 Kuala Lumpur           1601.87   1690.58         -5.25
 Ho Chi Minh            982.71    892.54          10.10
 

 (Reporting by Niyati Shetty in Bengaluru, Additional Reporting
by Shreya Mariam Job; Editing by Subhranshu Sahu)
  
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