Fall ahead of U.S. tariffs; Singapore sinks to 14-month low

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(July 6): 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% to a 14-month low.

Trump said on Thursday the United States may ultimately impose tariffs on more than US$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% 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%, while UOL Group fell over 10%.

Philippines stocks were down nearly 1% with industrial and real estate stocks falling the most.

Blue-chips SM Investments Corp and Ayala Land were down 1.7% 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% lower.

Public Bank was down 1.4%, while Sime Darby Plantation lost 1.7%. 

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%, while Airports of Thailand fell 1.5%. 

Thailand, Malaysia and Vietnam indexes are also headed for a fourth straight week of losses.

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