Most SE Asian stocks fall; Malaysia retreats from 3-month top

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BENGALURU (Aug 29): Most Southeast Asian stock markets fell on Wednesday as a lack of supportive cues and caution ahead of a looming deadline on tariffs with China hurt risk sentiment.

A new set of tariffs may kick in next week as the deadline for public comment on US President Donald Trump's plan to impose 25% tariffs on another US$200 billion of Chinese goods is on Sept 5.

Philippine shares fell for a second session in three, dragged by financials and consumer staples. Ayala Corp was among the biggest drags with a drop of 1.4%, while Universal Robina Corp slid over 2%.

Malaysian shares retreated from a three-month high hit in the previous session. Medical gloves and equipment maker Hartalega Holdings Bhd was the biggest drag with a drop of 3%. Dialog Group followed closely with a 2.6% decline.

Indonesian shares fell after two straight sessions of gains with financials leading the decline. Bank Central Asia and Bank Negara Indonesia declined 1.4% and 2%, respectively.

Thai shares were largely flat with Siam Commercial Bank rising 1%, while oil and gas producer PTT declined 0.5%.

Singapore shares rose marginally as gains in financials offset losses in industrials.

Top lender DBS Group Holdings rose as much as 0.5%, while diversified conglomerate Jardine Matheson Holdings fell over 1%.

Change on the day

Market             Current   Previous close  % move
Singapore          3251.9    3247.55         0.13
Bangkok            1719.31   1718.15         0.07
Manila             7809.64   7844.61         -0.45
Jakarta            6015.707  6042.65         -0.45
Kuala Lumpur       1817.33   1826.9          -0.52
Ho Chi Minh        990.34    995.19          -0.49

Change on year

Market             Current   End 2017        % move
Singapore          3251.9    3402.92         -4.44
Bangkok            1719.31   1753.71         -1.96
Manila             7809.64   8558.42         -8.75
Jakarta            6015.707  6355.654        -5.35
Kuala Lumpur       1817.33   1796.81         1.14
Ho Chi Minh        990.34    984.24          0.62