SE Asia Stocks-Most fall ahead of China trade data; Singapore up
* Philippines down after three sessions of gains
* Malaysia Feb industrial data due later in day
By Shreya Mariam Job
April 11 (Reuters) - Most Southeast Asian stock markets
edged lower on Thursday as investors exercised caution amid a
tariff spat between the United States and the European Union,
and ahead of China trade data on Friday.
"Investors will likely stay defensive and monitor
geopolitical developments ahead of China trade data later in the
week," ING said in a note.
China's exports are expected to have rebounded in March
after a sharp drop in February, while imports likely shrank for
a fourth straight month but at a more modest pace, a Reuters
poll showed.
Investors remained wary as U.S. President Donald Trump has
threatened new tariffs on goods from the European Union even as
the Sino-U.S. trade dispute remains unresolved.
Indonesian shares slipped amid political uncertainty
ahead of the presidential elections on April 17.
Consumer and financial stocks led the decline with Astra
International Tbk PT down 1.6 percent, while Bank
Negara Indonesia (Persero) Tbk PT lost 1.8 percent.
Philippine shares fell 0.3 percent and were headed
for their first session of decline in four, after data showed a
drop in the country's February exports.
Exports slid 0.9 percent from a year earlier, while imports
rose 2.6 percent.
Malaysian stocks declined 0.7 percent, hurt by a 3
percent fall in state utility firm Tenaga Nasional Bhd
.
Malaysian state-owned investment firm Khazanah Nasional has
raised 1.05 billion ringgit ($255 million) through the sale of
85 million Tenaga Nasional shares at the bottom of a 12.33–12.58
ringgit range.
Investors now await February industrial output data expected
later in the day for cues about the local economy.
Meanwhile, Singapore shares gained on telecom stocks.
Singapore Telecommunications Ltd rose as much as
2.3 percent to a more than five-month high. The Economic Times
reported Singapore Telecommunications, Bharti Airtel Ltd
and Warburg Pincus were in talks to buy the near-61
percent stake of Zee founder Subhash Chandra's family in Dish
TV, to be followed by an open offer for 26 percent more.
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SOUTHEAST ASIAN STOCK MARKETS As at 0350 GMT
Change on the day
Market Current Previous close Pct Move
Singapore 3336.63 3327.65 0.27
Bangkok 1660.75 1662.13 -0.08
Manila 7981.1 8008.53 -0.34
Jakarta 6439.43 6478.326 -0.60
Kuala Lumpur 1628.5 1639.46 -0.67
Ho Chi Minh 981.87 981.91 0.00
Change so far in 2019
Market Current End 2018 Pct Move
Singapore 3336.63 3068.76 8.73
Bangkok 1660.75 1563.88 6.19
Manila 7981.1 7,466.02 6.90
Jakarta 6439.43 6,194.50 3.95
Kuala Lumpur 1628.5 1690.58 -3.67
Ho Chi Minh 981.87 892.54 10.01
(Reporting by Shreya Mariam Job in Bengaluru; Editing by
Subhranshu Sahu)