SE Asia Stocks-Most markets fall on risk-off sentiment; Vietnam, Indonesia gain
* Singapore shares extend fall to over 8-1/2-month closing
low
* Philippine shares erase gains to end lower for eighth
session
By Ambar Warrick
June 25 (Reuters) - Most Southeast Asian stock markets fell
on Monday, tracking broader Asia amid a sustained equity
sell-off, while Vietnam shares extended their recovery into a
second session.
MSCI's broadest index of Asia-Pacific shares outside Japan
fell about 1 percent after a Wall Street Journal
report that U.S. President Donald Trump planned to bar many
Chinese companies from investing in U.S. technology firms and
block additional technology exports to China.
Safe-haven assets such as the Japanese yen and gold
saw higher bids. The yen rose about 0.4 percent against
the dollar.
In Southeast Asia, Singapore shares fell 0.8 percent,
extending their decline into a third session and hitting their
lowest since Oct. 4, 2017. Financials were the largest drags on
the index, with lenders DBS Group and Oversea-Chinese
Banking Corp shedding 0.9 percent and 1.3 percent
respectively.
Singapore's headline inflation rate quickened more than
expected in May from a year earlier, hinting that the island
state may see increased inflationary pressure in the near
future.
Philippine shares gave up early gains to close at
their lowest in 1-1/2 years, and marked their eighth consecutive
session of decline.
Industrials were the biggest drags on the index, with SM
Investments Corp declining about 2.7 percent.
Vietnam shares ended about 0.8 percent higher,
building on Friday's gains, as financial and real estate stocks
led the charge.
"It's a modest recovery... The market looked technically
oversold on Friday, while valuations are far less expensive now.
However, overall activity is well below peaks and sentiment
remains fragile," said Fiachra MacCana, head of research at Ho
Chi Minh Securities.
Indonesian shares rose about 0.6 percent, with
consumer staples and financials leading the gains.
Indonesia's trade deficit narrowed to $1.52 billion in May
but was worse than expected, due to higher oil prices. The
rupiah fell about 0.6 percent to the dollar following
the news.
An index of the country's 45 most liquid stocks
ended 1.1 percent higher.
SOUTHEAST ASIAN STOCK MARKETS
STOCK MARKETS
Change on the day
Market Current Previous close Pct Move
Singapore 3260.84 3287.4 -0.81
Bangkok 1622.28 1634.98 -0.78
Manila 6986.88 7063.2 -1.08
Jakarta 5859.083 5821.812 0.64
Kuala Lumpur 1678.1 1694.15 -0.95
Ho Chi Minh 990.52 983.17 0.75
Change on year
Market Current End 2017 Pct Move
Singapore 3260.84 3402.92 -4.18
Bangkok 1622.28 1753.71 -7.49
Manila 6986.88 8558.42 -18.36
Jakarta 5859.083 6355.654 -7.81
Kuala Lumpur 1678.1 1796.81 -6.61
Ho Chi Minh 990.52 984.24 0.64
(Reporting by Ambar Warrick in Bengaluru; Editing by Subhranshu
Sahu)