August 3, 2018 / 4:35 AM / 10 months ago

SE Asia Stocks-Philippines set for 4th winning week, S'pore to mark weekly drop

    * Broader Asian shares steady amid Sino-U.S. trade spat
    * Singapore set for 1.4 pct weekly drop

    By Syed Saif Hussain Naqvi
    Aug 3 (Reuters) - Southeast Asian stock markets stuck to
narrow trading ranges on Friday, before the release of the
closely watched monthly U.S. jobs report, which may provide
clues on the pace of Federal Reserve interest rate increases.
    Broader Asian shares held steady following tech-led gains on
Wall Street, as lingering trade worries sapped investor
confidence, with China vowing to retaliate if Washington pursued
its threat of increasing tariffs to 25 percent from 10 percent
on $200 billion of Chinese imports.
    "Asian markets may trade sideways today, awaiting tonight's
US labour market report, specifically the nonfarm payrolls,
unemployment rate and average hourly earnings," OCBC Bank said
in a note.
    Singapore shares were set for a 1.4 percent weekly
drop, edging slightly lower on Friday.
    DBS Group Holdings extended losses after reporting
a lower-than-expected second-quarter profit on Thursday.
    However, its rival United Overseas Bank reported a
28 percent jump in second-quarter profit on Friday, exceeding
market expectations, sending its shares higher.
    The Philippines was on track for its fourth gaining
week as shares rebounded on Friday after the previous session's
1 percent slide.
    Lender Metropolitan Bank & Trust Co gained 3.3
percent, while Bank Of The Philippine Islands rose 1.2
    Malaysian shares held steady as losses in telecom
shares offset gains in utilities. Telekom Malaysia Bhd
dropped 3.6 percent while Axiata Group BDH slipped 1.8
    Malaysia's exports rebounded in June from the previous
month, but the pace of growth was well below expectations as
commodity shipments fell, data showed.  
For Asian Companies click; 

 Market             Current   Previous close  Pct Move
 Singapore          3279.54   3286.32         -0.21
 Bangkok            1714.96   1708.28         0.39
 Manila             7779.22   7759.55         0.25
 Jakarta            5999.057  6011.723        -0.21
 Kuala Lumpur       1778.44   1778.13         0.02
 Ho Chi Minh        960.9     953.55          0.77
 Change on year                               
 Market             Current   End 2017        Pct Move
 Singapore          3279.54   3402.92         -3.63
 Bangkok            1714.96   1753.71         -2.21
 Manila             7779.22   8558.42         -9.10
 Jakarta            5999.057  6355.654        -5.61
 Kuala Lumpur       1778.44   1796.81         -1.02
 Ho Chi Minh        960.9     984.24          -2.37

 (Reporting by Syed Saif Hussain Naqvi in Bengaluru; Editing by
Amrutha Gayathri)
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