July 2, 2018 / 10:33 AM / 19 days ago

SE Asia Stocks-Most markets fall; Thailand bounces back in late trade

    * Singapore falls to near 9-month closing low
    * Vietnam drops 1.4 pct to 1-month closing low 

    By Sumeet Gaikwad
    July 2 (Reuters) - Most Southeast Asian stock markets fell
on Monday, tracking Asian peers as escalating Sino-U.S. trade
tensions and a private survey showing a slowdown in Chinese
manufacturing growth hurt investor sentiment.
    The Caixin/Markit Manufacturing Purchasing Managers' index
(PMI) declined to 51.0 in June from May's 51.1, as firms faced
rising input costs and a decline in export orders amid an
escalating trade dispute with the United States.
    Official PMI released on Saturday did show a slowing of
factory growth in June, with the manufacturing index slipping to
51.5 from May's 51.9.
    Investors were also jittery ahead of a July 6 deadline when
the United States is set to impose tariffs on $34 billion worth
of goods from China.
    Indonesian shares fell 0.9 percent and marked their
fourth session of decline in five, dragged by consumer and
material stocks.
    The annual inflation rate slowed less than expected in June
and stayed within the central bank's target range, the
statistics bureau said.
    June's annual inflation rate was 3.12 percent, compared with
May's 3.23 percent and analysts' expectation of 2.88 percent. 
    The central bank on Friday raised its benchmark rate for the
third time in six weeks, by twice as much as the market had
expected, in a bid to defend the fragile rupiah.
    "A higher interest rate implies softened inflationary
pressures," said Taye Shim, head of research at Jakarta-based
Mirae Asset Sekuritas, adding that investors were looking at
inflation data for cues. 
    Astra International fell 5.3 percent, while Semen
Baturaja (Persero) dropped 7.7 percent. 
    Vietnamese shares fell 1.4 percent, dragged by
financials, even after data showed manufacturing activity in
June hit the highest since March 2011. 
    Vietnam Technological and Commercial JSC and
Vietinbank fell 4.1 percent and 4.7 percent,
respectively. 
    Singapore shares dropped 0.9 percent to a nine-month
closing low as financials and industrials dragged. DBS Group
Holdings, the city-state's top lender, declined 0.9
percent.    
    Thai shares erased losses in late trade to close 0.7
percent higher, with gains in industrial and telecom stocks
outweighing losses in energy counters.
    Airports of Thailand rose 2.8 percent, while
Advanced Info Service gained 3.5 percent.
    The annual headline consumer price index rose 1.38 percent
in June, compared with a forecast of a 1.54 percent increase,
and against May's 1.49 percent rise, commerce ministry data
showed.
    
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SOUTHEAST ASIAN STOCK MARKETS
 Change on the day                           
 Market             Current  Previous close  Pct Move
 Singapore          3238.94  3268.7          -0.91
 Bangkok            1607.27  1595.58         0.73
 Manila             7227.96  7193.68         0.48
 Jakarta            5746.77  5799.237        -0.90
 Kuala Lumpur       1685.05  1691.5          -0.38
 Ho Chi Minh        947.15   960.78          -1.42
                                             
 Change on year                              
 Market             Current  End 2017        Pct Move
 Singapore          3238.94  3402.92         -4.82
 Bangkok            1607.27  1753.71         -8.35
 Manila             7227.96  8558.42         -15.55
 Jakarta            5746.77  6355.654        -9.58
 Kuala Lumpur       1685.05  1796.81         -6.22
 Ho Chi Minh        947.15   984.24          -3.77
 
 (Reporting by Sumeet Gaikwad in Bengaluru; Editing by
Subhranshu Sahu)
  
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