December 4, 2019 / 4:15 AM / 5 days ago

SE Asia Stocks-Most markets fall as Trump hardens trade war rhetoric

    * Trump says he could delay signing deal with China until
end-2020
    * Malaysia stocks fall to their lowest in 8 weeks
    * Vietnam bucks trend to gain slightly 

    By Soumyajit Saha
    Dec 4 (Reuters) - Most Southeast Asian stock markets tracked
a global downturn on Wednesday as the Trump administration
dashed hopes of a quick preliminary deal to halt impending U.S.
tariffs on China.
    U.S. President Donald Trump on Tuesday said he had "no
deadline" for a trade deal with China, and could wait until
after the U.S. presidential election in November 2020 to sign an
agreement.
    "There is justifiable cause to correlate Trump's bluster to
Beijing's insistence that tariff rollback is a pre-condition to
any deal," Mizuho Bank said in a note to clients. 
    "In which case, it seems Trump's priority is to not appear
weak in the run-up to the elections."
    The imminent tariffs on China, set to kick in on December
15, will only add to market woes as it is besieged by the
repercussions of multiple U.S. tariffs on Argentina, Brazil and
France, all announced earlier this week.
    Tariff-sensitive Singapore stocks fell to their
lowest in six weeks, dented by losses in consumer and banking
sectors.
    Lender United Overseas Bank fell over 1%, while
agribusiness company Wilmar International lost over
2%.
    The Philippine index fell, as losses in real estate
stocks weighed on the index, with SM Prime Holdings
and Ayala Land slipping 1.9% and 2.1%, respectively.
    Malaysian shares fell to their lowest in nearly
eight weeks, after data showed that the country's exports
dropped for the third straight month in October, though the pace
of decline was slower than expected. 
    The index was dragged lower by weakness in telecom and
financial sectors.
    Bucking the trend, Vietnam stocks edged a tick
higher, helped by gains in financials.
    Real estate developer Vingroup was up 0.5%, while
Joint Stock Commercial Bank for Foreign Trade of Viet Nam
 rose 1.6%.
    
For Asian Companies click;  

SOUTHEAST ASIAN STOCK MARKETS AS AT 0350 GMT 
  STOCK MARKETS                                                
  Change on the day                                            
  Market                   Current       Previous     Pct Move
                                         close        
  Singapore                3149.33       3173.08      -0.75
  Bangkok                  1565.87       1567.63      -0.11
  Manila                   7789.66       7855.18      -0.83
  Jakarta                  6107.325      6133.896     -0.43
  Kuala Lumpur             1554.42       1562.27      -0.50
 Ho Chi Minh               954.43        953.43        0.10
                                                      
  Change so far in 2019                               
  Market                   Current       End 2018     Pct Move
  Singapore                3149.33       3068.76      2.63
  Bangkok                  1565.87       1563.88      0.13
  Manila                   7789.66       7,466.02     4.33
  Jakarta                  6107.325      6,194.50     -1.41
  Kuala Lumpur             1554.42       1690.58      -8.05
  Ho Chi Minh              954.43        892.54       6.93
 
 (Reporting by Soumyajit Saha in Bengaluru, Editing by Sherry
Jacob-Phillips)
  
0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below