SE Asia Stocks-Fall ahead of U.S. tariffs; Singapore sinks to 14-month low
* Singapore hits lowest since April 2017
* Malaysia down for third session in five
By Sumeet Gaikwad
July 6 (Reuters) - Southeast Asian stock markets fell on
Friday as investors closed positions and waited anxiously for
the impending tariffs on Chinese imports by U.S. President
Donald Trump, with Singapore falling more than 2 percent to a
14-month low.
Trump said on Thursday the United States may ultimately
impose tariffs on more than $500 billion worth of Chinese goods
as the world's two largest economies hurtled toward the start of
a trade war.
A DBS analysis showed that South Korea, Malaysia, Taiwan and
Singapore are the economies most at risk in Asia, based on trade
openness and exposure to supply chains.
Singapore shares fell the most in over three months
as financial and real estate stocks faltered. The index is
poised to fall for a fourth straight week.
The city-state's top lenders DBS Group Holdings
and United Overseas Bank fell over 3 percent each.
Shares of several real estate developers tumbled, a day
after a surprise government move to tighten curbs on property in
a bid to cool the market.
City Developments slid over 16 percent while UOL
Group fell over 10 percent.
Philippines stocks were down nearly 1 percent with
industrial and real estate stocks falling the most.
Blue-chips SM Investments Corp and Ayala Land
were down 1.7 percent each.
The Philippine central bank has vowed to get the country's
inflation rate back into its target range after the June pace
surged to a more than five-year high, increasing pressure for
more interest rate hikes than the two made this year.
Financials and consumer stocks dragged the Malaysian index
0.7 percent lower.
Public Bank was down 1.4 percent while Sime Darby
Plantation lost 1.7 percent.
Malaysian palm oil futures fell for a third straight session
on Thursday, hitting their lowest in a week.
In Indonesia, the Jakarta index was moderately lower
as gains in energy stocks were offset by losses in financial and
consumer shares. The index is heading towards its third straight
weekly fall.
Thai shares fell for a second day. Index heavyweight
PTT Pcl was down nearly 3 percent while Airports of
Thailand fell 1.5 percent.
Thailand, Malaysia and Vietnam indexes are also headed for a
fourth straight week of losses.
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SOUTHEAST ASIAN STOCK MARKETS: CHANGE AS AT 0350 GMT
Change on the day
Market Current Previous close Pct Move
Singapore 3187.19 3256.71 -2.13
Bangkok 1592.44 1601.42 -0.56
Manila 7167.51 7233.57 -0.91
Jakarta 5735.523 5739.332 -0.07
Kuala Lumpur 1678.34 1690.65 -0.73
Ho Chi Minh 891.97 899.4 -0.83
Change on year
Market Current End 2017 Pct Move
Singapore 3187.19 3402.92 -6.34
Bangkok 1592.44 1753.71 -9.20
Manila 7167.51 8558.42 -16.25
Jakarta 5735.523 6355.654 -9.76
Kuala Lumpur 1678.34 1796.81 -6.59
Ho Chi Minh 891.97 984.24 -9.37
(Reporting by Sumeet Gaikwad in Bengaluru; Editing by Gopakumar
Warrier)