* Singapore falls after data shows exports slip in Aug
* Vietnam up on last-minute buying in real estate stocks
By Rashmi Ashok
Sept 17 (Reuters) - Philippine stocks fell on Tuesday as
soaring crude oil prices stoked fears that the oil importing
nation's trade deficit could widen further, while Singapore
slipped after data showed exports contracted for a sixth
straight month in August.
Crude oil prices jumped nearly 15% on Monday as attacks on
Saudi oil facilities over the weekend halved the kingdom's oil
output, creating the biggest disruption to global oil supplies
in decades and raising tensions in the Middle East.
For countries that are running trade deficits, such as the
Philippines, higher oil prices run the risk of widening their
deficit and subsequently exerting downward pressure on the
currency. A weaker currency in turn further drives up the
country's spend on oil imports.
"The question now is, how long will the prices stay high or
when will the supply normalise? Some say a few weeks, others say
few months," said Charles William Ang, associate analyst, COL
Financial Group.
"If the market believes that oil prices will continue to
spike, then a correction in the market is certainly a distinct
possibility."
Philippine stocks .PSI shed 0.8%, making them the region's
worst performers. SM Investments Corp SM.PS lost 1.5%, while
land developer Ayala Land ALI.PS shed 2.2%.
Indonesian stocks .JKSE closed slightly higher, recovering
from a near 2% drop in the prior session.
Indonesia, which has swung between a current account deficit
and surplus in recent months and is a net oil importer, may also
come under pressure if the oil spike lasts.
Singapore stocks .STI fell after data showed exports
shrank for a sixth straight month. The figures were slightly
better than expectation but failed to lift investor
sentiment.
Conglomerate Jardine Strategic Holdings JSH.SI and
CapitaLand Ltd CATL.SI slipped 1.8% and 1.7%, respectively.
Meanwhile, Vietnam shares .VNI added 0.7%, driven by
last-minute buying in real estate stocks with Vinhomes JSC
VHM.HM tacking on 2%.
Malaysian stocks .KLSE see-sawed throughout the session to
close marginally higher.
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SOUTHEAST ASIAN STOCK MARKETS
Change on the day
Market Current Previous close Pct Move
Singapore 3183 3203.93 -0.65
Bangkok 1663.93 1662.93 0.06
Manila 7932.23 7996.9 -0.81
Jakarta 6236.69 6219.435 0.28
Kuala Lumpur 1604.3 1601.25 0.19
Ho Chi Minh 996.74 989.86 0.70
Change so far in 2019
Market Current End 2018 Pct Move
Singapore 3183 3068.76 3.72
Bangkok 1663.93 1563.88 6.40
Manila 7932.23 7,466.02 6.24
Jakarta 6236.69 6,194.50 0.68
Kuala Lumpur 1604.3 1690.58 -5.10
Ho Chi Minh 996.74 892.54 11.67