Edition:
United States

Nikhil Subba

Australia shares end week lower, hurt by weak China data; NZ down

1:07am EST

Dec 14 Australian shares skidded on Friday as data in China showed the economy of the Pacific nation's biggest trading partner losing further momentum, underlining the risks to global growth from the Sino-U.S. trade dispute.

Australia shares eke out third session of gains; NZ up

Dec 13 2018

* New Zealand's key index also rise for third straight day (Updates to close)

Australia shares end firmer as U.S.-China tensions ease, NZ up

Dec 12 2018

Dec 12 Australian shares rallied on Wednesday, as U.S. President Donald Trump's positive stance on trade relations with China raised optimism of easing discord between the two nations.

Australian shares close up, healthcare bounces; NZ up

Dec 11 2018

Dec 11 Australian shares edged higher on Tuesday as China confirmed it was moving ahead on trade talks with the United States, though the benchmark inded still held close to two-year lows plumbed in the previous session.

Australia shares drop to 2-year low on trade, global growth worry; NZ down

Dec 10 2018

Dec 10 Australian shares closed near two-year lows on Monday as investors turned risk-averse on concerns over U.S.-China trade tensions and slowing global growth, with the healthcare and financial indexes clocking the biggest losses.

SE Asia Stocks-Fall on Fed rate hike view; Indonesia snaps 8 days of gains

Nov 09 2018

* Indonesia top loser with 1.7 pct drop * All markets close lower for the week By Nikhil Subba Nov 9 Southeast Asian stock markets fell on Friday and wiped out gains made in a post-U.S. midterm election rally on rising chances of a U.S. Fed rate hike in December, with Indonesia losing the most. The U.S. Federal Reserve held rates steady on Thursday but remained on track to continue gradually raising borrowing costs, pointing to healthy economic prospects that were marred only by a dip in the growth of business investment. It has raised rates three times this year and is widely expected to do so again next month. According to the CME Group's FedWatch tool, the likelihood of Fed raising rates by another 25 basis points in December is 75 percent. Indonesian shares snapped an eight-session winning streak and closed 1.7 percent weaker at a one-week low. For the week, the key stock index fell 0.5 percent. Consumer non-cyclicals were the biggest drag on Friday with Unilever Indonesia shedding 4.7 percent to its lowest close since mid-January 2017. Philippine shares declined about 1 percent to a 2-week closing low, hurt by losses in telecom and industrial stocks. For the week, the key stock index fell 1.2 percent. Globe Telecom fell 5.2 percent to its lowest close since mid-July, while construction firm DMC Holdings Inc shed over 1 percent. Singapore shares fell with industrial and energy stocks being the biggest drag. Conglomerate Jardine Matheson Holdings dropped 0.6 percent, while Keppel Corp shed 1.6 percent. Thai shares declined 0.8 percent, weighed down by energy stocks as crude prices fell to multi-month lows, pressured by rising supply and concerns of an economic slowdown. PTT PCL slipped 1.5 percent, while Thai Oil fell 4.7 percent after reporting a 40 percent drop in quarterly net income. Malaysian shares closed 0.8 percent lower with material stocks leading the decline. Press Metal Aluminium Holdings fell 2.4 percent, while chemicals producer Petronas Chemicals Group closed 1 percent lower. For Asian Companies click; SOUTHEAST ASIAN STOCK MARKETS Change on day Market Current Previous Pct Move Close Singapore 3073.49 3093.24 -0.49 Bangkok 1670.97 1681.73 -0.79 Manila 6968.82 7035.71 -0.95 Jakarta 5874.154 5976.806 -1.72 Kuala Lumpur 1708.09 1721.42 -0.77 Ho Chi Minh 914.29 926.28 -1.29 Change on year Market Current End 2017 Pct Move Singapore 3073.49 3402.92 -9.55 Bangkok 1670.97 1753.71 -4.86 Manila 6968.82 8558.42 -18.57 Jakarta 5874.154 6355.654 -7.58 Kuala Lumpur 1708.09 1796.81 -4.94 Ho Chi Minh 914.29 984.24 -7.11 (Reporting by Nikhil Subba; Editing by Subhranshu Sahu)

SE Asia Stocks-Drop as Fed rate view weighs; on track for weekly losses

Nov 08 2018

* Fed outlook wipes doubts on likelihood of Dec rate raise * Philippines, Singapore headed for steep losses on the week * Indonesia set to snap eight-session winning streak By Nikhil Subba Nov 9 Southeast Asian stock markets fell on Friday as the U.S. Federal Reserve offered no indication on Thursday that it might slow the pace of its rate increases, wiping doubts on the likelihood of a rate raise in December. The Federal Open Market Committee (FOMC) has raised U.S. interest rates three times this year and is widely expected to do so again next month. According to the CME group's FedWatch tool, the likelihood of the Fed raising rates by another 25 basis points in December is 75 percent. "Whenever the U.S. Fed increases their policy rates, there are tendencies for capital to go to safer assets, so emerging markets usually suffer some sell-off," said AP Securities analyst Rachelle Cruz. The sharp retreat across the board on Friday put Southeast Asian stocks on track for weekly losses, with the Philippines heading for a 2.5 percent slump on the week, while Singapore was set for an about 1.6 percent drop. "Whether FOMC was the (de)motivation that derailed the two-day winning streak in equities is perhaps inconclusive; but it is notable that post-elections rally has fumbled," Mizuho said in a note, referring to a rally in global equities after the U.S. midterm election results. Indonesian shares dropped 1.5 percent in the session and were set to snap an eight-session winning streak. Consumer goods company Unilever Indonesia fell as much as 4.3 percent to a two-month low. Singapore stocks fell 1 percent and Thai shares retreated 0.5 percent, both dragged down by losses in oil and gas companies as oil markets on Friday remained weak because rising supply and concerns of an economic slowdown pressured prices, with U.S. crude now down by 20 percent since early October. Thailand's PTT PCL fell 1.5 percent in the session, while Singapore's Keppel Corp shed nearly 2 percent. Philippine shares fell as much as 1.2 percent, weighed down by losses in industrials. DMCI Holdings Inc fell more than 1 percent to its lowest since Oct. 31, while JG Summit Holdings dropped 4 percent to its lowest in three weeks. For Asian Companies click; SOUTHEAST ASIAN STOCK MARKETS AS AT 0359 GMT Market Current Previous close Pct Move Singapore 3068.09 3093.24 -0.81 Bangkok 1673.35 1681.73 -0.50 Manila 6968.03 7035.71 -0.96 Jakarta 5890.877 5976.806 -1.44 Kuala Lumpur 1709.1 1721.42 -0.72 Ho Chi Minh 919.6 926.28 -0.72 Change on year Market Current End 2017 Pct Move Singapore 3068.09 3402.92 -9.84 Bangkok 1673.35 1753.71 -4.58 Manila 6968.03 8558.42 -18.58 Jakarta 5890.877 6355.654 -7.31 Kuala Lumpur 1709.1 1796.81 -4.88 Ho Chi Minh 919.6 984.24 -6.57 (Reporting by Nikhil Subba; Editing by Amrutha Gayathri)

SE Asia Stocks-Rise, Singapore leads gains

Nov 08 2018

* Indonesia extends gains to over 2-month closing high * Philippines recovers from 2-week low to close flat By Nikhil Subba Nov 8 Southeast Asian stock markets closed higher on Thursday, with Singapore leading the gains with a near 1 percent rise, driven by a post-election rally on Wall Street and China's stronger-than-expected October export data. Wall Street rose 2 percent on Wednesday as investors breathed a sigh of relief following the U.S. midterm elections, betting that a divided Congress would be good news for equities. China reported stronger-than-expected exports for October as shippers rushed goods to the United States, its biggest trading partner, racing to beat higher tariffs that come into force in January next year. Exports rose 15.6 percent in October from a year earlier, China's customs data showed. "Front-loading export activities should continue in November and December. So export growth data will continue to be stronger than in previous holiday seasons," ING wrote in a note to clients. China is the biggest trade partner for most countries in Southeast Asia. Investors also awaited the U.S. Federal Reserve's monetary policy decision due later in the day. The Fed is not expected to raise interest rates until its next gathering in December, however market participants are waiting to see whether it offers clues about possible rate increases in December and in 2019. Singapore shares gained 0.9 percent, buoyed by industrial and energy stocks. Keppel Corp closed 1.6 percent higher, while conglomerate Jardine Matheson Holdings rose 3.2 percent. Thai shares rose for a second straight session, helped by gains in energy stocks as crude oil prices climbed. Index heavyweight PTT PCL gained 1 percent to a one-week closing high, while Thai Oil rose 0.9 percent. Indonesian shares rose for an eighth session in a row and posted their highest close since Aug. 31, driven by gains in telecommunication and utility stocks. Tiphone Mobile Indonesia surged nearly 23 percent to a more than three-month closing high. Malaysian shares closed higher for a second consecutive session on the back of telecom stocks. Telecommunications firm Digi.com climbed 1.4 percent, while Maxis Bhd rose 2 percent. Philippine shares recovered from a two-week low to close almost flat. Diversified conglomerate San Miguel Corp rose 6.4 percent, while Semirara Mining and Power Corp fell 3 percent. For Asian Companies click; SOUTHEAST ASIAN STOCK MARKETS: Change on day Market Current Previous Pct Move Close Singapore 3093.24 3065.36 0.91 Bangkok 1681.73 1675.33 0.38 Manila 7035.71 7033.93 0.03 Jakarta 5976.806 5939.886 0.62 Kuala Lumpur 1721.42 1714.88 0.38 Ho Chi Minh 926.28 922.16 0.45 Change on year Market Current End 2017 Pct Move Singapore 3093.24 3402.92 -9.10 Bangkok 1681.73 1753.71 -4.10 Manila 7035.71 8558.42 -17.79 Jakarta 5976.806 6355.654 -5.96 Kuala Lumpur 1721.42 1796.81 -4.20 Ho Chi Minh 926.28 984.24 -5.89 (Reporting by Nikhil Subba; Editing by Subhranshu Sahu)

SE Asia Stocks-Most gain; Philippines extends losses as GDP growth slows

Nov 07 2018

* Philippines slumps as Q3 GDP growth slows, misses forecast * Wall Street rallies after U.S. midterms, boosting Asian shares * Indonesian shares hit 2-month high By Nikhil Subba Nov 8 Most Southeast Asian stock markets rose on Thursday, as Wall Street rallied after U.S. midterm elections, boosting Asian equities, while the Philippines deepened its slump after data showed that economic growth slowed in the third quarter. Wall Street's main indexes rose more than 2 percent overnight, while Asian stocks climbed to a one-month peak, as Democrats won control of the House of Representatives and President Donald Trump's Republican party expanded its Senate majority, indicating the likelihood of a political gridlock in Washington. "President Trump will have a lot more negotiations to do to in terms of rolling out his infrastructure development, additional tax cuts... and the market is taking that as a relief factor," said Taye Shim, head of research at Mirae Asset Sekuritas. Investors are also looking ahead to the U.S. Federal Reserve's monetary policy decision due later on Thursday. The Fed, however, is not expected to hike interest rates until its next gathering in December. The Fed has tightened monetary policy three times in 2018. Singapore shares rose as much as 1.1 percent, with industrials and financials leading the gains. Lender DBS Group Holdings climbed nearly 2 percent while industrial conglomerate Jardine Matheson Holdings rose 1.7 percent to a three-week high. Indonesian shares rose as much as 1 percent to their highest in two months on the back of gains in utilities. Malaysian shares rose 0.7 percent to a two-week high, boosted by wins in industrials. The Philippines stock index declined as much as 1.2 percent to a two-week low and was on track for its third straight losing session. Gross domestic product (GDP) grew 6.1 percent in the third quarter from a year earlier, below the 6.3 percent median forecast in a Reuters poll and slower than the previous quarter's upwardly revised 6.2 percent growth. Philippines' economic planning secretary said the third-quarter growth numbers make reaching 2018 growth target challenging. For Asian Companies click; SOUTHEAST ASIAN STOCK MARKETS AS AT 0412 GMT Market Current Previous close Pct Move Singapore 3093.48 3065.36 0.92 Bangkok 1686.8 1675.33 0.68 Manila 7006.54 7033.93 -0.39 Jakarta 5969.347 5939.886 0.50 Kuala Lumpur 1720.76 1714.88 0.34 Ho Chi Minh 928.11 922.16 0.65 Change on year Market Current End 2017 Pct Move Singapore 3093.48 3402.92 -9.09 Bangkok 1686.8 1753.71 -3.82 Manila 7006.54 8558.42 -18.13 Jakarta 5969.347 6355.654 -6.08 Kuala Lumpur 1720.76 1796.81 -4.23 Ho Chi Minh 928.11 984.24 -5.70 (Reporting by Nikhil Subba; Editing by Amrutha Gayathri)

SE Asia Stocks-Philippines falls 2 pct on widening trade deficit

Nov 07 2018

* Singapore trims early gains to close slightly higher * Indonesia gains for seventh consecutive session By Nikhil Subba Nov 7 Philippine shares fell 2 percent on Wednesday following disappointing September trade deficit data, while other Southeast Asian markets closed marginally higher as investors became more optimistic about trade negotiations between Beijing and Washington after the U.S. midterm elections results. As expected, the elections resulted in a split Congress, with the Democrats winning control of the House of Representatives, which gives them the power to intercept President Donald Trump's business-friendly agenda and other policies, including U.S.-China trade relations. "We have a virtuous environment for a year-end rally over the next couple of weeks, notwithstanding the election results," said Liu Jinshu, director of research at NRA Capital. However, the prospect of a political gridlock arises with the split Congress, creating some uncertainty for investors. Investors also awaited a two-day meeting of the Federal Reserve starting later in the day to gauge the outlook for U.S. monetary policy. In Southeast Asia, Philippine shares extended falls into a second session, dragged mainly by SM Investments Corp and PLDT Inc. SM Investments fell 4.4 percent to a near two-week closing low, while PLDT declined 5.6 percent to its lowest close since late September. Data released earlier in the day showed imports hit an all-time high in September while exports remained weak, bringing the trade deficit to the highest in nine months amid sustained purchases of capital goods needed for the government's infrastructure overhaul. Singapore shares gave up earlier gains to close marginally higher. Keppel Corp rose nearly 2 percent, while Sembcorp Industries declined 0.7 percent. Malaysian shares climbed for a second session in three, helped primarily by telecommunication and industrial stocks. Malaysia Airports Holdings was the top percentage gainer on the benchmark stock index with an about 8 percent jump, while mobile communication service provider Digi.com rose 3.7 percent to a near 3-week closing high. Meanwhile, the country's gross international reserves edged down to $101.7 billion as of Oct. 31 from $102.8 billion as of Oct. 15, the central bank said. Indonesian shares closed higher for a seventh session in a row on the back of gains in industrials. Construction firm Totalindo Eka Persada climbed 1 percent, while Waskita Karya surged nearly 10 percent. Thai shares snapped two straight sessions of falls, buoyed by utilities. Electricity producer Banpu Power gained 2.5 percent, while Glow Energy rose almost a percent. For Asian Companies click; SOUTHEAST ASIAN STOCK MARKETS Change on day Market Current Previous Pct Move Close Singapore 3064.31 3060.62 0.12 Bangkok 1672.44 1669.33 0.36 Manila 7033.93 7180.11 -2.04 Jakarta 5939.886 5923.93 0.27 Kuala Lumpur 1714.88 1708.8 0.36 Ho Chi Minh 922.16 922.05 0.01 Change on year Market Current End 2017 Pct Move Singapore 3064.31 3402.92 -9.95 Bangkok 1672.44 1753.71 -4.47 Manila 7033.93 8558.42 -17.81 Jakarta 5939.886 6355.654 -6.54 Kuala Lumpur 1714.88 1796.81 -4.56 Ho Chi Minh 922.16 984.24 -6.31 ($1 = 32.8200 baht) (Reporting by Nikhil Subba; Editing by Subhranshu Sahu)

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