Edition:
United States

Sameer Manekar

Australia, NZ shares retreat from record highs as virus spreads

Feb 20 2020

* The energy sub-index set to snap five straight weekly losses

Australia, NZ shares hit record high on China stimulus hopes

Feb 19 2020

* Qantas Airways rises 8.4%, marks best session since May 2018

Australia shares flat as financials drag; NZ little changed

Feb 18 2020

Feb 19 Australian shares swung between positive and negative territory on Wednesday, with top lender Commonwealth Bank of Australia dragging on the benchmark, offsetting gains in gold and mining stocks.

Techs drag Australia shares lower as Apple outlook weighs; NZ at record high

Feb 17 2020

Feb 18 Australian shares fell on Tuesday, dragged lower by heavy losses in technology stocks after Apple Inc flagged a revenue miss amid weakening demand and production in China from the coronavirus outbreak.

Australia shares halt four-session winning streak; NZ flat

Feb 16 2020

* Investors weigh near-term hit on global growth amid virus scare

Australia shares set to end week firmer as earnings offset virus scare

Feb 13 2020

Feb 14 Australian shares inched up on Friday and were set to end the week over a percent higher, as favourable reception of major corporate earnings eclipsed underlying worries over a mounting coronavirus death toll and infections in China.

Australian shares extend gains on miners, energy stocks

Feb 05 2020

Feb 6 Australian shares rose for a third straight session on Thursday, following a firmer finish on Wall Street, as mining and energy stocks rose on the back of higher commodities and oil prices.

SE Asia Stocks-Most fall as tariff comments dim Sino-U.S. trade deal optimism

Jan 15 2020

* Philippines sheds more than 1.5%, the most in a month * U.S.-China Phase 1 trade deal to be signed later on Wednesday * China Q4 growth likely weakest in nearly 30 years - Reuters poll By Sameer Manekar Jan 15 Most Southeast Asian stock markets settled lower on Wednesday, with Philippines declining the most in a month, as comments from a top U.S. official that tariffs on Chinese goods would remain in place for now tempered optimism about an interim trade deal. U.S. Treasury Secretary Steven Mnuchin said on Tuesday that Washington would maintain tariffs on Chinese goods until the completion of a second phase trade agreement. His comments came a day before the signing of the Phase 1 agreement that aims to increase Chinese purchases of U.S. manufactured products, agricultural goods, energy and services, and also draw a line under the 18-month-long tit-for-tat tariff spat that has roiled global markets. U.S. President Donald Trump and Chinese Vice Premier Liu He are slated to sign the accord in Washington later in the day. Continuing U.S. tariffs on Chinese goods despite the trade deal raise fears of poor trade and economic performance in the region, Christine Natasya, an equity analyst at Mirae Asset Indonesia, said. Meanwhile, the region's largest trading partner, China, likely grew at its weakest pace in nearly 30 years in the fourth quarter, a Reuters poll showed. The data will be released on Friday. Among Southeast Asian markets, Philippine shares fell 1.7% as a volcano near the capital city Manila continued to spew ash and steam, dampening sentiment. Investors are uncertain regarding the Taal volcano eruption and its impact on the gross domestic product, since there is no exact prediction as to when the volcano might erupt, Rachelle Cruz, analyst at AP Securities, said. Losses in blue chips dragged down the index, with SM Investments Corp and Ayala Land losing 1.6% each. Indonesian shares snapped a four-session winning streak, with financial and communication firms losing the most. Indonesia's trade deficit narrowed in December, following its largest trade gap in seven months in the prior month, data showed. Bank Mandiri (Persero) and Telekomunikasi Indonesia lost 1.3% and 1.8%. Industrial and financial stocks weighed on Singapore's benchmark index. Industrial conglomerate Jardine Strategic Holdings and United Overseas Bank shed 1.5% and 0.6%, respectively. Thai stocks snapped four straight sessions of gains, dragged by heavy losses in utilities. Electricity generators Global Power Synergy dropped 4.9%, while Gulf Energy Development fell 2.1%. Malaysian equities reversed course in the last half an hour of trading to settle 0.3% higher. For Asian Companies click; SOUTHEAST ASIAN STOCK MARKETS Change on the day Market Current Previous close Pct Move Singapore 3256.98 3270.54 -0.41 Bangkok 1581.05 1586.9 -0.37 Manila 7664.4 7793.25 -1.65 Jakarta 6283.365 6325.406 -0.66 Kuala Lumpur 1585.14 1580.6 0.29 Ho Chi Minh 967.56 967 0.06 Change so far in 2020 Market Current End 2019 Pct Move Singapore 3256.98 3222.83 1.06 Bangkok 1581.05 1579.84 0.08 Manila 7664.4 7,815.26 -1.93 Jakarta 6283.365 6,299.54 -0.26 Kuala Lumpur 1585.14 1588.76 -0.23 Ho Chi Minh 967.56 960.99 0.68 (Reporting by Sameer Manekar in Bengaluru; Editing by Subhranshu Sahu)

SE Asia Stocks-Drop as U.S. to keep tariffs on China; Philippines falls most

Jan 14 2020

* U.S.-China Phase 1 trade deal to be signed later on Wednesday * Indonesia trade deficit in Dec likely narrowed - Reuters poll * Malaysia extends losses into fourth session By Sameer Manekar Jan 15 Southeast Asian stock markets dropped on Wednesday as broader confidence was dented ahead of the signing of an initial Sino-U.S. trade deal following comments from Washington that tariffs on Chinese goods would remain in place for now. U.S. Treasury Secretary Steven Mnuchin said on Tuesday that the United States would maintain tariffs on Chinese goods until the completion of a second phase of a U.S.-China trade agreement. U.S. President Donald Trump is slated to sign the Phase 1 trade agreement with Chinese Vice Premier Liu He at the White House later in the day. "The limited nature of this (Phase 1) deal begs the question of prospects for further progress on lowering trade barriers. And reports that no further tariff reductions are likely until after November's U.S. Presidential elections sets the stage for "morning after" disappointment," Mizuho Bank said in a note. Signs of goodwill came from both sides as the U.S. Treasury Department dropped its designation of China as a currency manipulator on Monday, while Beijing pledged to ramp up its buys from the United States as part of the trade truce, according to a source. In Southeast Asia, the Philippine bourse dropped the most as a volcanic eruption continued to darken the mood. Investors are uncertain regarding the Taal volcano eruption and its impact on the country's gross domestic product, since there is no exact prediction as to when the volcano might erupt, Rachelle Cruz, analyst at AP Securities said. Financial and consumer firms were the top drags, with Bank of the Philippine Islands and SM Investments Corp losing 1.8% and 1.1%, respectively. Singapore's benchmark index slipped 0.4%, with Jardine Strategic Holdings and Wilmar International dropping 1.5% and 2.3%. Malaysian equities extended losses into a fourth session, with Sime Darby Plantation and Digi.Com Bhd slipping 0.8% and 0.9%, respectively. Palm oil futures in Malaysia fell by their most in eight months on Tuesday. India, world's largest buyer of edible oils, has halted palm oil imports from Malaysia, the second-largest global producer of palm oil. Indonesian shares were set to snap four sessions of gains, with Telekomunikasi Indonesia and United Tractors losing 0.8% and 2.8%, respectively. Trade deficit in Southeast Asia's largest economy is likely to have narrowed in December, while exports are expected to have shrunk 3.03% on-year in the month, a Reuters poll showed. Thai stocks were also poised to snap a four-session winning streak. For Asian Companies click; SOUTHEAST ASIAN STOCK MARKETS 0400 GMT Market Current Previous close Pct Move Singapore 3257.96 3270.54 -0.38 Bangkok 1586.05 1586.9 -0.05 Manila 7735.14 7793.25 -0.75 Jakarta 6318.242 6325.406 -0.11 Kuala Lumpur 1576.41 1580.6 -0.27 Ho Chi Minh 966.63 967 -0.04 Change so far in 2020 Market Current End 2019 Pct Move Singapore 3257.96 3222.83 1.09 Bangkok 1586.05 1579.84 0.39 Manila 7735.14 7,815.26 -1.03 Jakarta 6318.242 6,299.54 0.30 Kuala Lumpur 1576.41 1588.76 -0.78 Ho Chi Minh 966.63 960.99 0.59 (Reporting by Sameer Manekar in Bengaluru, Editing by Sherry Jacob-Phillips)

SE Asia Stocks-Most rise on U.S.-China trade deal, Singapore leads

Jan 14 2020

* Singapore closes at over 2-month high * Indonesia rises for fourth straight session * China Dec exports up 7.6% y/y, beats forecast By Sameer Manekar Jan 14 Most Southeast Asian stock markets ended higher on Tuesday, underpinned by optimism on the imminent signing of a Phase 1 trade deal between the United States and China, with Singapore leading gains lifted by the industrial sector. Under the terms of the trade deal to be signed on Wednesday in Washington, China has pledged to buy nearly $80 billion worth of additional manufactured goods from the United States over the next two years, and would also buy more than $50 billion more in energy supplies, a source told Reuters on Monday. "Asia markets are expected to sing to the cheer on Wall Street with the alleviation of U.S.-China trade tensions carrying this week," IG Asia said. Aiding the sentiment further, exports from the region's largest trading partner, China, rose for the first time in five months in December and by more than expected, signalling a modest recovery in demand. In Southeast Asia, the benchmark index of trade-reliant Singapore closed at a more than 2-month high, driven by major gains in the industrial sector. Industrial conglomerates Jardine Strategic Holdings and Jardine Matheson Holdings advanced 4.6% and 3.8%, respectively. Indonesian shares ended higher for the fourth consecutive session. Bank Rakyat Indonesia (Persero) added 1.3%, while Unilever Indonesia was up 0.9%. The Philippine bourse reversed course from earlier in the session as investors rushed back to equities in last minute trading. The index gained 16.48 points after losing as much as 92.49 points earlier. Consumer firms lifted the index, with food and beverage firm Universal Robina Corp jumping 6.5%. Malaysian equities fell for a third straight session, however, though the main index trimmed its earlier losses to finish 0.3% lower. Indian palm oil importers effectively stopped all purchases from Malaysia, the world's second largest palm producer, after the government privately urged them to boycott its product following a diplomatic spat, sources said. Malaysia's exports to India constituted nearly a quarter of its total palm oil exports in 2019 http://bit.ly/2QSGy9W. According to government data from 2018 http://bit.ly/36RmLgF, palm oil was the major contributor to the gross domestic product of the country's agriculture sector. Sime Darby Plantation and IJM Plantations ended 2.2% and 3.6% lower, respectively. Thai stocks finished marginally higher, while Vietnam index gained 0.1%. For Asian Companies click; SOUTHEAST ASIAN STOCK MARKETS Change on the day Market Current Previous close Pct Move Singapore 3270.54 3251.07 0.60 Bangkok 1586.9 1586.16 0.05 Manila 7793.25 7776.77 0.21 Jakarta 6325.406 6296.567 0.46 Kuala Lumpur 1580.6 1584.73 -0.26 Ho Chi Minh 967 965.84 0.12 Change so far in 2019 Market Current End 2018 Pct Move Singapore 3270.54 3222.83 1.48 Bangkok 1586.9 1563.88 1.47 Manila 7793.25 7,466.02 4.38 Jakarta 6325.406 6,194.50 2.11 Kuala Lumpur 1580.6 1588.76 -0.51 Ho Chi Minh 967 892.54 8.34 (Reporting by Sameer Manekar in Bengaluru; Editing by Alex Richardson)

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