October 16, 2018 / 4:08 AM / a month ago

SE Asia Stocks-Tread water as Saudi tensions weigh

    By Chandini Monnappa
    Oct 16 (Reuters) - Southeast Asian stock markets trod water
on Tuesday amid mounting tensions between Saudi Arabia and the
West over the disappearance of a Saudi journalist critical of
Riyadh.
    Oil prices edging higher on concerns over U.S.-Saudi Arabia
tensions also weighed on investor sentiment.
    Philippine shares erased early losses to trade
slightly higher, helped by food, beverage and tobacco stocks.
    Lender BDO Unibank Inc gained 1.8 percent, while
beverage and food maker Universal Robina Corp rose 2.6
percent.  
    "Prices are attractive, the market could take this as an
opportunity to buy," said Fio Dejesus, an equity research
analyst with RCBC securities.
    "The decline in the market is huge year-to-date, so some
players might be thinking that the headwinds are already braced
in. It remains to be seen whether the market will close in the
green."
    Philippine shares had shed nearly 19 percent this year as of
last close, making them the worst performing market in the
region.
    Indonesian shares rose as much as 0.4 percent with
gains seen across sectors except financials and real estate.
    Document management services provider Multifiling Mitra
Indonesia surged 15.58 percent, while financing
company Trust Finance Indonesia jumped 12.82 percent.
    Malaysian shares were little changed, while Vietnam
stocks climbed up to 0.7 percent.
    Thai shares slipped on resumption of trade after a
long weekend, with all sectors in negative territory except
healthcare.
    Property developer Central Pattana Pcl was the top
drag on the index with a drop of 2.56 percent.
            
For Asian Companies click;  

SOUTHEAST ASIAN STOCK MARKETS AT 0354 GMT    
 Market             Current   Previous close  Pct Move
 Singapore          3034.64   3045.97         -0.37
 Bangkok            1692.32   1696.16         -0.23
 Manila             6930.33   6926.51         0.06
 Jakarta            5732.294  5727.256        0.09
 Kuala Lumpur       1729.06   1728.74         0.02
 Ho Chi Minh        957.11    951.64          0.57
                                              
 Change on year                               
 Market             Current   End prev yr     Pct Move
 Singapore          3034.64   3402.92         -10.82
 Bangkok            1692.32   1753.71         -3.50
 Manila             6930.33   8,558.42        -19.02
 Jakarta            5732.294  6,355.65        -9.81
 Kuala Lumpur       1729.06   1796.81         -3.77
 Ho Chi Minh        957.11    984.24          -2.76
 
 (Reporting by Chandini Monnappa; Editing by Subhranshu Sahu)
  
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