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%.
SOUTHEAST ASIAN STOCK MARKETS: AS AT 0343GMT
Change on the day
|Market||Current||Previous close||% move|
|Ho Chi Minh||990.34||995.19||-0.49|
Change on year
|Market||Current||End 2017||% move|
|Ho Chi Minh||990.34||984.24||0.62|