Most slide on trade war jitters, headed for weekly decline

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(Sept 7): Most Southeast Asian stock markets fell on Friday in line with broader Asia, as investors feared a new round of Sino-U.S. tariffs, while lingering economic woes in emerging markets also hit sentiment.

The public comment period on the Trump administration's plan to impose tariffs on US$200 billion more of Chinese goods was set to end by midnight in Washington on Thursday, and investors were edgy as the tariffs could go into effect shortly afterward.

Emerging market stocks have been rattled this week as currencies in Argentina, Turkey and Indonesia lost ground and South Africa slipped into a recession.
MSCI's broadest index of Asia-Pacific shares outside Japan lost 0.8%, its sixth straight daily decline, while benchmark stock indexes in Singapore, the Philippines, Malaysia and Indonesia were each poised to end the week lower.

Financial stocks dragged the Singapore index as much as 0.8% lower to a near 1-1/2-year low. The benchmark was in the red for the seventh time in eight sessions.

The city-state's top lender DBS Group declined 1.1%, while United Overseas Bank slipped 0.6%.

Philippine shares were down for a third day, hurt by declines in industrials and real estate stocks. The index is poised to post its biggest weekly fall in over two months.

Index heavyweights SM Investments Corp and Ayala Corp fell 2% and 1.5% respectively.

Malaysian stocks were largely unchanged as losses in consumer staples and industrial stocks offset gains in telecom and healthcare.

Blue-chip SIME Darby Plantation was the biggest drag on the benchmark, falling 1.5%, while Genting Bhd rose 1%.

Malaysian July industrial production data is expected later on Friday.

Thai shares fell as energy stocks declined. Oil and gas producer PTT slipped 0.5%.

Meanwhile, the Jakarta index rose marginally, helped by consumer stocks. Unilever Indonesia rose 3%, while diversified conglomerate Astra International
rose almost 3%.

An index of the country's 45 most liquid stocks was slightly lower.


Change on the day

Market Current Previous close Pct Move
Singapore 3123.25 3147.69 -0.78
Bangkok 1689.54 1693.94 -0.26
Manila 7554.2 7638.71 -1.11
Jakarta 5796.317 5776.095 0.35
Kuala Lumpur 1796.9 1798.57 -0.09
Ho Chi Minh 961.83 958.19 0.38

Change on year

Market Current End 2017 Pct Move
Singapore 3123.25 3402.92 -8.22
Bangkok 1689.54 1753.71 -3.66
Manila 7554.2 8558.42 -11.73
Jakarta 5796.317 6355.654 -8.80
Kuala Lumpur 1796.9 1796.81 0.01
Ho Chi Minh 961.83 984.24 -2.28