SE Asia Stocks-Most tepid on trade caution; Indonesia falls 1% as banks weigh

Reuters

Published Nov 07, 2019 12:51

SE Asia Stocks-Most tepid on trade caution; Indonesia falls 1% as banks weigh

SE Asia Stocks-Most tepid on trade caution; Indonesia falls 1% as banks weigh

* U.S.-China trade deal could be delayed to Dec - official
* Indonesia hits near one-month low
* Philippines Q3 GDP came in better than forecast

By Sameer Manekar
Nov 7 (Reuters) - Indonesian shares fell more than 1% on
Thursday, dragged by heavy losses in financials, while other
Southeast Asian markets treaded water as signs of a delay in
Washington and Beijing sealing an interim trade deal dampened
sentiment.
Reuters on Wednesday reported that a meeting between U.S.
President Donald Trump and China's Xi Jinping to sign the
long-awaited interim trade deal could be delayed until December.
Officials are still scoping venues for the meeting, which
was originally scheduled to take place on the sidelines of a
now-cancelled mid-November summit of Asia-Pacific leaders in
Chile.
"The location of any deal ceremony is considerably less
important than any willingness to sign a deal at all. Or to the
substance of any such deal," ING said in a note.
"The question really is, do we even get a December deal?"
The Indonesian index .JKSE seemed underwhelmed by the
trade news, but shares dropped after President Joko Widodo urged
bank executives to help spur growth with cuts in lending rates
and loans, following feeble third-quarter growth data.

The index touched its lowest in nearly a month, with
financials taking a hit as the government's statement could
pressure lenders' margins.
Bank Rakyat Indonesia BBRI.JK and Bank Mandiri (Persero)
BMRI.JK dropped 4.3 and 2.5%, respectively.
An index of the country's 45 most liquid stocks .JKLQ45
were set to declined 1.8%.
Meanwhile, a delay in a long-awaited trade deal suppressed
trading in Singapore .STI , with industrials dragging the index
lower.
Jardine Strategic Holdings JSH.SI lost 1.5%, while
financial sectors supported the index, with Capitaland Ltd
CATL.SI posting a 1.1% gain.
The Philippine bourse .PSI traded flat after closing 2.3%
weaker on Wednesday, after data showed that the country's
economy grew better than expected in the third quarter.
Blue-chip stocks recovered from a plunge in the previous
session, with SM Prime Holdings SMPH.PS and Ayala Corp AC.PS
climbing as much as 2.5% and 0.7%.
Thai stocks .SETI edged lower, dragged by energy and
materials sectors, while Malaysia's benchmark index .KLSE was
little changed.

For Asian Companies click;

SOUTHEAST ASIAN STOCK MARKETS AS AT 0445 GMT

Market Current Previous close Pct Move
Singapore 3263.53 3262.69 0.03
Bangkok 1622.08 1623.99 -0.12
Manila 8022.21 8025.88 -0.05
Jakarta 6132.878 6217.545 -1.36
Kuala Lumpur 1603.09 1603.25 -0.01
Ho Chi Minh 1025.4 1024.91 0.05

Get The App
Join the millions of people who stay on top of global financial markets with Investing.com.
Download Now

Change so far in 2019
Market Current End 2018 Pct Move
Singapore 3263.53 3068.76 6.35
Bangkok 1622.08 1563.88 3.72
Manila 8022.21 7,466.02 7.45
Jakarta 6132.878 6,194.50 -0.99
Kuala Lumpur 1603.09 1690.58 -5.18
Ho Chi Minh 1025.4 892.54 14.89


Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.

Sign out
Are you sure you want to sign out?
NoYes
CancelYes
Saving Changes