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Shanima A

SE Asia Stocks-Most rise on trade deal hopes; S'pore logs first quarterly gain in four

Mar 29 2019

* Thai Feb exports fall 1.7 pct * S'pore cbank likely to end tightening run - poll * Philippine shares post third straight qtrly gains By Shanima A March 29 Most Southeast Asian stock markets edged higher on Friday, in line with broader Asia, on hopes of progress in trade talks between the world's two largest economies, while Singapore index logged its best quarter since December 2017. Optimism revolved around progress in the U.S.-China trade talks, with reports saying Beijing's proposals on a range of issues went further than before, including those on forced technology transfer. White House economic adviser Larry Kudlow said the United States may drop some tariffs if a deal is reached while keeping others in place to ensure Beijing's compliance. The development lifted the index of broader Asian shares outside Japan by 0.75 percent. Singapore shares added 0.3 percent to touch highest in more than a week. The index snapped its three straight quarterly declines and gained 4.7 percent in the last three months. A Reuters poll forecast Singapore's central bank keeping its monetary policy stance on hold in the first of its semi-annual meetings next month, after two tightening moves last year. Philippines stocks added 0.6 percent, though on the week they declined 1.2 percent. The benchmark also clocked its third straight quarterly gain, rising 6.9 percent. Thai shares ended 0.3 percent higher on the day and 4.8 percent during the quarter. Thailand's annual headline inflation rate in March is expected to have picked up from the previous month, but may stay below the central bank's target range for a fifth straight month. Exports in February dropped 1.7 percent year-on-year, after declining 4.7 percent in January. Indonesian shares fell 0.2 percent, hurt by declines in consumer staples stocks. Animal feeds maker Charoen Pokphand Indonesia lost 10.5 percent. Indonesia's central bank deputy governor, Dody Budi Waluyo, said the apex bank will maintain a tight monetary stance as it focuses on the stability. Bank Indonesia hiked its benchmark rate six times last year, by a total of 175 basis points. Vietnam shares erased gains earlier in the day and ended 0.23 percent lower after data showed the country's economy grew at a slower pace in the first quarter as weakening global demand for smartphones weighed on exports. For Asian Companies click; SOUTHEAST ASIAN STOCK MARKETS Change on the day Market Current Previous close Pct Move Singapore 3212.88 3203.58 0.29 Bangkok 1638.65 1634.25 0.27 Manila 7920.93 7876.4 0.57 Jakarta 6468.755 6480.788 -0.19 Kuala Lumpur 1643.63 1641.33 0.14 Ho Chi Minh 980.76 982.98 -0.23 Change so far in 2019 Market Current End 2018 Pct Move Singapore 3212.88 3068.76 4.70 Bangkok 1638.65 1563.88 4.78 Manila 7920.93 7,466.02 6.09 Jakarta 6468.755 6,194.50 4.43 Kuala Lumpur 1643.63 1690.58 -2.78 Ho Chi Minh 980.76 892.54 9.88 (Reporting by Shanima A in Bengaluru; Editing by Gopakumar Warrier)

SE Asia Stocks-Most rise on trade talk progress; Thailand leads pack

Mar 29 2019

* Singapore on track to post first quarterly gain in four * Philippines, Indonesia set to post third straight qtrly gain * Thailand trade data due later in the day * Asia stocks ex-Japan up 0.5 pct By Shanima A March 29 Most Southeast Asian stock markets rose on Friday, with Thailand leading the pack, boosted by optimism around progress in U.S.-China trade talks, while Singapore index was on track for its first quarterly gain in four. Sentiment was lifted after a report that in an unprecedented move, China has made proposals in talks with the U.S. on a range of issues, including on forced technology transfer. The issue around technological transfer has proved a tough one for negotiators between the world's largest economies, as U.S. officials say China has previously refused to acknowledge the problem exists to the extent alleged by the United States, making discussing a resolution difficult. "While the feel-good factor from China may see stock markets in the green...., short-term sentiment will be highly vulnerable to headlines coming out of the talks, which could cause aggressive short-term volatility, bullish or bearish," said Jeffrey Halley, senior market analyst - Asia Pacific at OANDA, in a note. MSCI's broadest index of Asia-Pacific shares outside Japan gained 0.5 percent. Thailand shares hit their highest in one-week, rising 0.6 percent - the highest in the region. Trade data for the country in February is due later in the day. Singapore index rose 0.5 percent, with shares of DBS Group Holdings Ltd gaining 0.7 percent. The index was also heading for a quarterly gain of about 5 percent. The real estate investment trusts (REITs) have been real outperformers in the Singapore market during the quarter on expectations of lower interest rates going forward, said Joel Ng, an analyst at KGI Securities. The Monetary Authority of Singapore will hold its next monetary policy decision meeting in April. Malaysian shares gained 0.5 percent, after two straight sessions of declines. Instant food products maker Nestle (Malaysia) Bhd rose as much as 1.6 percent. The Philippine benchmark rose 0.3 percent and was on its course for the third straight quarter of gain. However on a weekly basis, it was set to post its first decline in four weeks. Meanwhile, Indonesian stocks fell 0.5 percent, hurt by declines in consumer staples sectors. Animal feeds maker Charoen Pokphand Indonesia Tbk PT was among the top decliners on the index falling more than 8 percent. The benchmark was on track to post its third consecutive quarterly gain. For Asian Companies click; SOUTHEAST ASIAN STOCK MARKETS AT 0401 GMT Market Current Previous close Pct Move Singapore 3220.5 3203.58 0.53 Bangkok 1643.85 1634.25 0.59 Manila 7899.36 7876.4 0.29 Jakarta 6445.856 6480.788 -0.54 Kuala Lumpur 1649.35 1641.33 0.49 Ho Chi Minh 986.92 982.98 0.40 Change so far in 2019 Market Current End 2018 Pct Move Singapore 3220.5 3068.76 4.94 Bangkok 1643.85 1563.88 5.11 Manila 7899.36 7,466.02 5.80 Jakarta 6445.856 6,194.50 4.06 Kuala Lumpur 1649.35 1690.58 -2.44 Ho Chi Minh 986.92 892.54 10.57 (Reporting by Shanima A in Bengaluru; Editing by Rashmi Aich)

SE Asia Stocks-Most end firmer ahead of Sino-U.S. trade talks

Mar 28 2019

* Vietnam March CPI likely down 0.21 pct m/m - govt data * Thailand's pro-army party wins popular vote By Shanima A March 28 Most Southeast Asian stock markets closed higher on Thursday as report that Washington and Beijing were making headway on their talks on trade helped bolster sentiment, after recent sessions of steep sell-offs over global growth worries. Investors awaited the outcome of the next round of talks due later in the day, on the backdrop of a Reuters report that both economies have made progress in all areas under discussion in trade talks, but sticking points still remain. Separately, China's Premier Li Keqiang said he does not think there is any trust deficit between Beijing and Washington, and the country will sharply expand market access especially in its financial services sector. "Near-term direction of the market is very much dependent on a trade resolution between the U.S. and China. Trade resolution will boost confidence that global growth has troughed," said, Paul Chew Kuan Leng, Head Of Research, Phillip Securities Research. Leading the gains in the regional markets, Vietnam shares ended 0.7 percent firmer, boosted by strength in the real estate sector, with Vinhomes JSC adding 3.3 percent. Government data showed that the country's Consumer Price Index (CPI) is likely 0.21 percent lower in March, compared with the previous month. Singapore shares ended 0.2 percent firmer. Casino operator Genting Singapore Ltd closed 1 percent higher, while conglomerate Jardine Strategic Holdings Ltd edged 0.4 percent higher. Thai shares closed 0.3 percent higher, after the Election Commission said the pro-army party won the popular vote in general election. The pro-army Palang Pracharat Party gained 8.4 million ballots, while the main opposition Pheu Thai Party got 7.9 million vote, the election commission said. Shares of Airports of Thailand PCL were among the top gainers on the index, while telecom provider Advanced Info Service PCL closed 1.1 percent firmer. Meanwhile, a senior Thai central bank official said the country's monetary policy committee did not "close the door" on raising interest rates this year. The Malaysian benchmark index was the only outlier, ending 0.1 percent lower. The index extended declines to close at its lowest in more than three months after the Malaysian central bank projected a gloomy growth outlook for this year. For Asian Companies click; SOUTHEAST ASIAN STOCK MARKETS Change on day Market Current Previous Close Pct Move Singapore 3203.58 3198.39 0.16 Bangkok 1634.25 1629.4 0.30 Manila 7876.4 7861.05 0.20 Jakarta 6480.788 6444.738 0.56 Kuala Lumpur 1641.33 1642.73 -0.09 Ho Chi Minh 982.98 975.91 0.72 Change on year Market Current End 2017 Pct Move Singapore 3203.58 3068.76 4.39 Bangkok 1634.25 1563.88 4.50 Manila 7876.4 8558.42 -7.97 Jakarta 6480.788 6194.498 4.62 Kuala Lumpur 1641.33 1690.58 -2.91 Ho Chi Minh 982.98 984.24 -0.13 ($1 = 0.8885 euros) (Reporting by Shanima A in Bengaluru, Editing by Sherry Jacob-Phillips)

SE Asia Stocks-Most up on bargain hunting; Malaysia slips on cbank outlook

Mar 28 2019

* U.S.-China trade talks to resume on Thursday * Malaysian shares at 3-month low By Shanima A March 28 Most Southeast Asian stock markets edged up on Thursday on bargain hunting and some progress in U.S.-China trade talks, while the Malaysian index hit its lowest in more than three months after the central bank's gloomy growth outlook for this year. Bank Negara Malaysia in its annual report on Wednesday had lowered its economic growth expectation for 2019 to 4.3-4.8 percent from an earlier forecast of 4.9 percent growth. Malaysian index was down over 0.1 percent, hitting its lowest since Dec. 20, 2018. Shares of oil palm planter Sime Darby Plantation Bhd were among the major decliners on the index, dipping nearly 2 percent. "Key headwinds to growth include the external sector as the global outlook weakens and potential commodity-related supply disruptions, while domestic private activity remains the main driver of growth albeit at a moderated pace," UOB said in a note. Investors were also on the lookout for the outcome of high-level trade talks between the United States and Southeast Asia's largest trading partner China, which are scheduled to start later in the day in Beijing. Meanwhile, U.S. officials told Reuters that the world's two biggest economies have made progress in all areas under discussion in trade talks, but sticking points remain. "We should see more mixed trading as we head into the end of the quarter with portfolio rebalancing driving market direction. The US treasury yield curve inverted further these couple of days. This has led to some selling," said Liu Jinshu, director of research at NRA Capital. "Yet, some market players are expecting the Federal Reserve to cut rates, leading to some bargain hunting as well." The Philippine index gained 0.2 percent, supported by gains in real estate and financial stocks. Index heavy-weight Ayala Land Inc and Bank of the Philippine Islands rose more than 1 percent each. Financials and material sectors pushed the Indonesian benchmark 0.2 percent higher. Shares of cement maker Indocement Tunggal Prakarsa Tbk PT were leading the gains on the index rising more than 4.5 percent. Singapore index rose 0.3 percent, with conglomerates Jardine Matheson Holdings Ltd and Jardine Strategic Holdings Ltd, were 0.9 percent and 1 percent higher, respectively. Thailand shares were flat marginally up 0.02 percent. An unofficial final results of the country's first election since 2014 is expected to be released on Friday. For Asian Companies click; SOUTHEAST ASIAN STOCK MARKETS AT 0415 GMT Market Current Previous close Pct Move Singapore 3206.44 3198.39 0.25 Bangkok 1629.55 1629.4 0.01 Manila 7877.03 7861.05 0.20 Jakarta 6451.735 6444.738 0.11 Kuala Lumpur 1640.98 1642.73 -0.11 Ho Chi Minh 978.93 975.91 0.31 Change so far in 2019 Market Current End 2018 Pct Move Singapore 3206.44 3068.76 4.49 Bangkok 1629.55 1563.88 4.20 Manila 7877.03 7,466.02 5.51 Jakarta 6451.735 6,194.50 4.15 Kuala Lumpur 1640.98 1690.58 -2.93 Ho Chi Minh 978.93 892.54 9.68 (Reporting by Shanima A; Editing by Rashmi Aich)

SE Asia Stocks-Most fall on U.S. recession risks; Philippines ends at 1-week low

Mar 27 2019

* Malaysia falls to over 3-mth lows * Thailand's opposition parties claim majority in vote * U.S.-China trade talks to resume on Thursday By Shanima A March 27 Most Southeast Asian stocks fell on Wednesday as investors remained concerned about a potential recession in the United States, with Philippines declining to a one-week trough. Sentiment remained fragile though the 10-year U.S. Treasuries yield rose as high as 2.432 percent from Monday's 15-month low. Investors were spooked as the yield curve continued to be inverted as this phenomenon has preceded every U.S. recession over the past 50 years. Markets were also looking out for the latest round of high-level trade talks between the U.S. and Southeast Asia's biggest trading partner China that is scheduled to start on Thursday in Beijing. Local bourses have witnessed hefty fund outflows since the start of trade negotiations between the world's two biggest economies. Philippine shares lost 0.6 percent, with financial stocks leading the declines. Metropolitan Bank and Trust Co dropped 2.2 percent. Shares of conglomerate GT Capital Holdings Inc were among the top drags on the index and fell to more than three-week lows after the company reported a fall in annual core net income. Malaysian shares declined to more than three-month lows, with Public Bank Bhd shedding 1.4 percent. The central bank on Wednesday lowered its economic growth expectation for this year and forecast a significant drop in export expansion due to a slowdown in the global economy and the U.S.-China trade war. Singapore shares reversed gains to end 0.1 percent lower. Thailand ended marginally lower. With final results of the first election since 2014 army coup still delayed, investors were assessing political uncertainty in the country. In the latest development, opposition of seven parties claimed it had won a majority in the lower house of parliament. However, the opposition alliance would still fall short of being able to elect a prime minister. Defying the trend, Vietnam shares advanced 0.6 percent. Tran Minh Hoang, chief economist at Vietcombank Securities, said technical recovery of some largecap banks and real estate stocks pushed the index higher. "Despite going against the common trend of the region today, we view that the market's sentiment is still skeptical in general, although panic selling is unlikely to be seen," he added. For Asian Companies click; SOUTHEAST ASIAN STOCK MARKETS Change on day Market Current Previous Close Pct Move Singapore 3198.39 3200.28 -0.06 Bangkok 1629.4 1632.32 -0.18 Manila 7861.05 7907.03 -0.58 Jakarta 6444.738 6469.999 -0.39 Kuala Lumpur 1642.73 1649.94 -0.44 Ho Chi Minh 975.91 969.79 0.63 Change on year Market Current End 2017 Pct Move Singapore 3198.39 3068.76 4.22 Bangkok 1629.4 1563.88 4.19 Manila 7861.05 8558.42 -8.15 Jakarta 6444.738 6194.498 4.04 Kuala Lumpur 1642.73 1690.58 -2.83 Ho Chi Minh 975.91 984.24 -0.85 (Reporting by Shanima A in Bengaluru, Editing by Shreejay Sinha)

SE Asia Stocks-Malaysia hits over 3-mth low; most wary on slowdown woes

Mar 27 2019

* Worries remain over impending U.S. recession * Asia shares ex-Japan falls 0.2 pct * Philippines falls most in the region By Shanima A March 27 The Malaysian stock market hit a more than three-month low on Wednesday, with most Southeast Asian indexes remaining subdued in thin trade, tracking weakness in broader Asia due to continued caution over global economic slowdown worries. Adding to the steep sell-offs since Friday, the yield curve remained inverted, though the 10-year U.S. Treasuries yield inched up to as high as 2.432 percent from Monday's 15-month low of 2.377 percent, leaving the markets nervous about the economic slowdown. "Overall, there are worries about U.S. curve inversion, and I think that's the reason people are concerned," said Joel Ng, an analyst at KGI Securities. "There is still a little cautiousness in the market, and at this moment we don't see much participation in the market too, the volumes aren't that great." MSCI's broadest index of Asia-Pacific shares outside Japan fell 0.2 percent. Leading the losses in the region, the Philippine benchmark declined about 0.4 percent, hurt by financials and industrials stocks. Shares of Metropolitan Bank and Trust Co fell as much as 2 percent. The Malaysian index fell nearly 0.5 percent to its lowest since Dec. 20, before paring some of the losses. Banking stocks were among the biggest drags on the index with Public Bank Bhd dropping 1.2 percent and CIMB Group Holdings Bhd falling to its lowest in 1 year. Meanwhile, data from the United States showed that consumer confidence declined in March with homebuilding falling more than expected in February, pointing towards a slowdown in economic activity. "Soft economic data reminded us that a global cyclical downswing is hitting the U.S. as well, although to a lesser extent," said Margaret Yang, markets analyst at CMC Markets, Singapore, in a note. In Indonesia, consumer staples and real estate stocks weighed most on the benchmark index. It fell 0.2 percent. However bucking the trend, the Vietnam index rose 0.6 percent, helped by real estate stocks. On Tuesday, Vietnam Ministry of Planning and Investment said the country received $4.1 billion in foreign direct investments (FDI) in the first quarter of this year, up 6.2 percent from a year earlier. Singapore's index was up 0.3 percent, buoyed by financials stocks. United Overseas Bank Ltd rose as much as 1 percent while DBS Group Holdings Ltd added 0.6 percent. For Asian Companies click; SOUTHEAST ASIAN STOCK MARKETS AS AT 0401 GMT Market Current Previous close Pct Move Singapore 3209.11 3200.28 0.28 Bangkok 1625.72 1632.32 -0.40 Manila 7873.21 7907.03 -0.43 Jakarta 6455.997 6469.999 -0.22 Kuala Lumpur 1643.47 1649.94 -0.39 Ho Chi Minh 975.72 969.79 0.61 Change so far in 2019 Market Current End 2018 Pct Move Singapore 3209.11 3068.76 4.57 Bangkok 1625.72 1563.88 3.95 Manila 7873.21 7,466.02 5.45 Jakarta 6455.997 6,194.50 4.22 Kuala Lumpur 1643.47 1690.58 -2.79 Ho Chi Minh 975.72 892.54 9.32 (Reporting by Shanima A in Bengaluru; Editing by Rashmi Aich)

SE Asia Stocks-Most end higher as U.S. recession fears recede

Mar 26 2019

* Broader Asia shares ex-Japan up 0.2 pct * Cautiously-optimistic view on Spore's manufacturing environment- analyst By Shanima A March 26 Most Southeast Asian stocks edged higher on Tuesday, with Indonesia adding 0.9 percent, as worries over a U.S. recession ebbed after Treasury yields rose. Sentiment continued to remain fragile, however, over inversion of the 10-year U.S. Treasury yield curve, an indicator of impending recession in the world's largest economy. Equities around the world witnessed a sharp selloff on Monday on fears over global economic growth. However, the 10-year U.S. Treasury yield came off late-2017 lows and edged up to 2.442 percent, sending the MSCI's broadest index of Asia-Pacific shares outside Japan 0.2 percent higher after a 1.4 percent loss in the previous session. Indonesian stocks, the top performer in the region, climbed 0.9 percent, boosted by gains in consumer staples and financials. Shares of cigarettes maker Gudang Garam Tbk PT gained 2.9 percent, while Bank Negara Indonesia (Persero) Tbk PT added 1.4 percent. Singapore shares added 0.6 percent, with conglomerate Jardine Matheson Holdings rising 1.2 percent. The country's manufacturing output in February expanded slightly, rising 0.7 percent from a year earlier. OCBC Bank in a note forecast a "lacklustre view of the manufacturing momentum for 1Q19 in the light of the dampened global growth prospects." Thai shares closed 0.4 percent higher despite data showing the country's factory output in February slipped 1.6 percent, compared to a Reuters poll forecasting a 0.5 percent decline. Financials and energy stocks led the index higher, with oil and gas explorer PTT Exploration and Production PCL rising 0.8 percent and Kasikornbank PCL edging 1.1 percent higher. In Philippines, the benchmark index gained 0.6 percent, bolstered by industrial sector. Heavyweights SM Investments Corp and JG Summit Holdings added 1.2 percent and 1.5 percent, respectively. Vietnam shares, however, bucked the trend and ended marginally lower, hurt by losses in utilities and real estate stocks. For Asian Companies click; SOUTHEAST ASIAN STOCK MARKETS Change on day Market Current Previous Close Pct Move Singapore 3200.28 3182.92 0.55 Bangkok 1632.32 1625.91 0.39 Manila 7907.03 7863.02 0.56 Jakarta 6469.999 6411.251 0.92 Kuala Lumpur 1649.94 1649.15 0.05 Ho Chi Minh 969.79 970.07 -0.03 Change on year Market Current End 2017 Pct Move Singapore 3200.28 3068.76 4.29 Bangkok 1632.32 1563.88 4.38 Manila 7907.03 8558.42 -7.61 Jakarta 6469.999 6194.498 4.45 Kuala Lumpur 1649.94 1690.58 -2.40 Ho Chi Minh 969.79 984.24 -1.47 (Reporting by Shanima A in Bengaluru; Editing by Shreejay Sinha)

SE Asia Stocks-Most rebound as U.S. recession fears recede; Indonesia leads gains

Mar 26 2019

* Asia shares ex-Japan up 0.3 pct * Singapore awaits factory output data * Thai Feb factory output falls 1.6 pct By Shanima A March 26 Most Southeast Asian stock markets bounced back on Tuesday from steep losses in the previous session as worries about a U.S. recession eased, with Indonesia leading the gains and rising most in more than a week. Shares on the Wall Street stabilised overnight, after the steep sell-off on Friday on looming worries over 10-year U.S. Treasury yield curve inversion, an indicator of impending recession in the world's largest economy. "After a sea of red on regional stock markets yesterday, Asia appears to be letting out a collective sigh of relief this morning as European and North American stocks stabilised in the overnight session," Jeffrey Halley, senior market analyst at OANDA, said in a note. MSCI's broadest index of Asia-Pacific shares outside Japan rebounded 0.3 percent after losing 1.4 percent in the previous session. However, investors remained cautious ahead of data on United States consumer confidence for March after the rebound in February following three straight monthly declines. The Indonesian index led the gains in the region and posted its best day in more than a week, rising 0.88 percent, boosted by financials and consumer staples stocks. Bank Central Asia Tbk PT added more than 1 percent and shares of household products maker Unilever Indonesia Tbk PT clocked their biggest gain since February 18. Singapore shares rose 1 percent ahead of industrial production data for February. Thai shares were trading 0.1 percent higher, after an unexpected fall in factory output in February. Thailand's manufacturing production index (MPI) in February unexpectedly dropped 1.6 percent from a year earlier, led by lower production of steel, computers and rubber products, the Industry Ministry said on Tuesday. A Reuters poll had expected it to have risen at a slightly faster pace than in the previous month. The results of country's first elections since a 2014 coup were still unclear after the Election Commission on Monday said the winners of the remaining 150 of the lower house seats may be announced only on Friday. A final official announcement is expected on May 9. For Asian Companies click; SOUTHEAST ASIAN STOCK MARKETS AS AT 0413 GMT Market Current Previous close Pct Move Singapore 3209.94 3182.92 0.79 Bangkok 1628.13 1625.91 0.14 Manila 7902.8 7863.02 0.51 Jakarta 6466.493 6411.251 0.88 Kuala Lumpur 1649.02 1649.15 -0.01 Ho Chi Minh 970.81 970.07 0.08 Change so far in 2019 Market Current End 2018 Pct Move Singapore 3209.94 3068.76 4.60 Bangkok 1628.13 1563.88 4.11 Manila 7902.8 7,466.02 5.85 Jakarta 6466.493 6,194.50 4.39 Kuala Lumpur 1649.02 1690.58 -2.46 Ho Chi Minh 970.81 892.54 8.77 (Reporting by Shanima A in Bengaluru; Editing by Rashmi Aich)

SE Asia Stocks-End lower on U.S. recession fears; Vietnam sheds 2 pct

Mar 25 2019

* Philippine shares among worst performers, end 1.9 pct weaker * Singapore Feb core inflation rate eases * Thailand Feb factory output seen rising 0.52 pct By Shanima A March 25 Southeast Asian stock markets ended lower on Monday with cautious investors across the globe opting for safe-haven bonds as risk assets were rattled by fears of an impending U.S. recession, while Vietnam shares slumped to a near one-month low. Concerns about the health of the world economy heightened last week after remarks by the U.S. Federal Reserve, sending the 10-year treasury yields to the lowest since early 2018. Meanwhile, data showed preliminary measures of manufacturing and services activity in the United States grew at a slower pace this month than in February, and dampened sentiment further. Traditionally, an inverted yield curve - where long-term rates slip below short-term - has signalled a recession in the offing. Asian shares followed the broader global equities sell-off, with MSCI's broadest index of Asia-Pacific shares outside Japan dropping 1.5 percent to a one-week trough. Leading the declines in the region, Vietnam shares closed 1.9 percent weaker, with real estate stocks weighing on the index. Philippines shares ended 1.9 percent lower, with losses in industrial stocks accounting for most of the declines. Thai shares shed 1.2 percent as the Southeast Asia's second-largest economy awaits the final results of the country's first election since a 2014 coup. Pheu Thai party linked to self-exiled former leader Thaksin Shinawatra won 138 seats, while military junta chief Prayuth Chan-ocha's Palang Pracharat party got 96, but the winners of 150 of the lower house seats are still unclear, the election commission announced after market hours. The overall winner of Sunday's election may not emerge for weeks because the Election Commission has said it will announce the official results of the final 150 seats in the 500-seat parliament on May 9. On a separate note, Thailand's annual manufacturing output in February is expected to have risen at a slightly faster pace than in the previous month, a Reuters poll showed. Singapore shares fell 0.9 percent to their lowest close in nearly two months, after data showed that the city-state's core inflation rate for February eased to 1.5 percent from a year earlier. The rate hit its lowest in nine months on expectations that the central bank will keep monetary policy unchanged when it meets next month. Indonesia stocks closed 1.8 percent weaker, dented by losses in consumer staples and financial stocks, with Gudang Garam Tbk PT slipping more than 4.5 percent. For Asian Companies click; SOUTHEAST ASIAN STOCK MARKETS Market Current Previous close Pct Move Singapore 3182.92 3212.1 -0.91 Bangkok 1625.91 1646.29 -1.24 Manila 7863.02 8013.42 -1.88 Jakarta 6411.251 6525.274 -1.75 Kuala Lumpur 1649.15 1666.66 -1.05 Ho Chi Minh 970.07 988.71 -1.89 Change so far in 2019 Market Current End 2018 Pct Move Singapore 3182.92 3068.76 3.72 Bangkok 1625.91 1563.88 3.97 Manila 7863.02 7,466.02 5.32 Jakarta 6411.251 6,194.50 3.50 Kuala Lumpur 1649.15 1690.58 -2.45 Ho Chi Minh 970.07 892.54 8.69 (Reporting by Shanima A in Bengaluru; Editing by Sherry Jacob-Phillips)

SE Asia Stocks-Tumble on U.S. recession fears; Thailand falls 1 pct ahead of election results

Mar 25 2019

* Philippine shares worst performer in the region * Singapore shares 1.7 pct lower, inflation data awaited By Shanima A March 25 Southeast Asian stock markets fell on Monday, in line with broader Asia, as investors sought refuge in safer assets on U.S. recession worries, with Philippines taking the worst hit Thailand slipped more than 1 percent ahead of the results of the kingdom's first elections since a 2014 coup. Stocks around the world were under pressure as investors fled to the safety of bonds after cautious remarks by the U.S. Federal Reserve last week on cooling economy sent the 10-year treasury yields below the three-month rate for the first time since 2007 embedding interest rate curve inversion. Traditionally, an inverted yield curve - where long-term rates fall below short-term - has signalled an impending recession. MSCI's broadest index of Asia-Pacific shares outside Japan dropped 0.6 percent to a one-week low. Thailand was awaiting the outcome of elections for the lower house - the country's first since a 2014 army coup. The unofficial result is expected Monday afternoon. With 93 percent of overall votes counted, the Election Commission reported junta chief Prayuth Chan-ocha's Palang Pracharat party was leading with 7.64 million votes, indicating prospects of Prayuth Chan-ocha to remain as prime minister of the country. Analysts saw Thai stocks tracking a global decline in equities on Monday, with the benchmark index falling as much as 1 percent. Morgan Stanley said in note on Sunday, "We will watch how alliances settle over the next 72 hours to get a better gauge of political control in the lower house. We think this will be key for foreigners to return after their net sales of about $7 billion of Thai equities over the last 12 months." The Philippine index, the worst performer in the region, dipped as much as 2.5 percent to a one-week low, hurt by losses in financials and industrial stocks. Singapore index fell to a two-month low, declining 1.7 percent, led by a 2 percent fall in DBS Group Holdings Ltd shares. Investors are awaiting the city state's headline inflation rate for February, due later in the day. For Asian Companies click; SOUTHEAST ASIAN STOCK MARKETS AT 0419 GMT Market Current Previous close Pct Move Singapore 3166.49 3212.1 -1.42 Bangkok 1633.3 1646.29 -0.79 Manila 7817.33 8013.42 -2.45 Jakarta 6435.338 6525.274 -1.38 Kuala Lumpur 1651.39 1666.66 -0.92 Ho Chi Minh 971.28 988.71 -1.76 Change so far in 2019 Market Current End 2018 Pct Move Singapore 3166.49 3068.76 3.18 Bangkok 1633.3 1563.88 4.44 Manila 7817.33 7,466.02 4.71 Jakarta 6435.338 6,194.50 3.89 Kuala Lumpur 1651.39 1690.58 -2.32 Ho Chi Minh 971.28 892.54 8.82 (Reporting by Shanima A in Bengaluru; Editing by Rashmi Aich)

World News

German Greens leap in EU vote, eyes now on France

Germany's Green party doubled its share of the vote in Sunday's European Parliament election, leaping into second place behind Chancellor Angela Merkel's conservatives and above the centre-left Social Democrats.